Nordea AM breaks off with Brazilian meat giant

According to NAM's Head of Responsible Investments, the asset manager has not been impressed with JBS' level of commitment. NAM dropped JBS from its portfolios after several meetings in Brazil regarding the company's connections to cattle from farms involved in deforestation, Eric Pedersen says in the Guardian.

JBS, the Brazilian meat processer has been linked five times to cattle supplied by Amazon farms involved in deforestation. | Photo: Pexel: Kat Jayne.

Nordea Asset Management has dropped JBS, the world’s biggest meat processor, from its portfolio, according to Head of Responsible Investments Eric Pedersen, reports the Guardian on Tuesday.

The decision was taken about a month ago. Over the past year alone, JBS has been linked to cattle supplied by Amazon farms involved in deforestation five times. Pedersen says that the scandals and JBS's response to them influenced Nordea's decision to exclude the company from its portfolios.

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