Brazil: Chain Reaction Research report attributes to soy traders, meatpackers, retailers and financiers the most deforestation in Cerrado
Chain Reaction Research, a coalition of Aidenvironment, Profundo and Climate Advisers, has launched the report “Key Cerrado Deforesters in 2020 Linked to the Clearing of More Than 110,000 Hectares”. The Cerrado is a vast, biodiverse tropical savannah in Brazil. The report shows that the bioma is under threat from commodity-driven deforestation. Soy expansion and cattle ranching are direct drivers of forest loss in the Cerrado. The document presents new data on specific actors linked to Cerrado deforestation in 2020, including the quantified risk exposure of the largest soy traders, meatpackers, and retailers. Financiers with forest policies are exposed to material risks in their portfolios. Over half of soy-driven Cerrado deforestation is linked to prominent soy producers, such as SLC Agrícola, Nuveen, and JJF Holdings e Participações. Most of these companies have trading relationships with Cargill, Bunge, ADM, Louis Dreyfus Company (LDC), and Cofco. Meatpackers JBS, Marfrig, and Minerva are highly exposed to Cerrado deforestation in their supply chains. Retailers Casino Group, Carrefour, and Cencosud are key beef sales channels, equally linked to deforestation in the biome. BNP Paribas, Santander, Rabobank, HSBC, AP2, Caisse de Dépôt, Santander, Credit Agricole, Barclays, and Credit Suisse have billions of US Dollars of exposure to top Cerrado deforesters, which is in conflict with their own forest policies.