Big beef loan scrapped amid uproar over Amazon deforestation

Stop Financing Factory Farming
23rd February '22
An aerial drone view of many cattle in many feedlot pens in the deforested region of Para, Brazil
Drone view of cattle feedlot in Para, Brazil

According to Bloomberg, a $200 million loan for Marfrig Global Foods has fallen apart amid growing Amazon deforestation concerns associated with Brazil’s second-biggest beef producer. IDB Invest removed its financing from the operation after civil society groups, including Friends of the Earth, protested that the loan would violate the bank’s sustainability policies.

This article was originally published by Bloomberg.

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