Marfrig - deforestation pledges
Brazil-based meat heavyweight Marfrig has agreed a US$30m finance deal that commits it to zero deforestation in its operations.
The finance agreement, signed with the international investment fund &Green, with assistance from Netherlands-based public-private partnership IDH, also commits Marfrig to the conservation of forests, the recovery or compensation of native vegetation and intensified use of low productivity areas.
The Sao Paolo-based business, the world s second-largest beef producer, revealed the terms of the agreement in a note to shareholders.
It said: &Green requires stringent environmental, social and governance (ESG) criteria to be complied with and obtaining this financing shows that Marfrig is capable of meeting such rigorous sustainability criteria.
It is time to seal the marriage between carbon finance and forest protection
Matthew Spencer, Sustainable Trade Initiative
11 January 2021
CO2 from forest fires have the same climate cost as that from burning fossil fuels, yet funding for forest protection lags far behind, writes Matthew Spencer of IDH - the Sustainable Trade Initiative
All carbon pollution is equal: this is a founding assumption of the UN Climate Convention, because the atmospheric effect of a tonne of carbon dioxide emitted from a smoking tropical tree in Mato Grosso.
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