JBS's banks could be liable for handling profits tied to alleged illegal Amazon clearing, groups argue

Banks working with JBS — the world's largest beef processor — could face liability after environmental and human rights groups filed money laundering complaints over profits allegedly linked to illegal deforestation in the Amazon.

Here's what to know

The Transnational Legal Coalition took its allegations to authorities in the United Kingdom, Ireland, Germany, and the Netherlands, filing 14 complaints on Nov. 5 with prosecutors and financial regulators, according to Mongabay.

British bank Barclays, reportedly JBS's largest financier, is among the dozen financial firms, investors, and advisory businesses named alongside JBS in the filings.

The coalition said anti-money laundering laws could make JBS and the institutions handling its money legally liable. Its argument rests on treating earnings from cattle raised on illegally cleared land as "proceeds of crime."

A 2024 Global Witness investigation cited by Mongabay put Barclays' earnings from its dealings with JBS at $1.7 billion for 2018-2023.

More background

Environmental nonprofit AidEnvironment linked JBS suppliers to more than 16 million acres of forest clearance in Brazil's Amazon region between 1988 and 2026. More than 80% of the farms in AidEnvironment's sample showed evidence of clearing in legally protected zones.

The clearing affected two categories of protected land, Mongabay explained: Areas of Permanent Preservation, where vegetation removal is generally prohibited, and Legal Reserves, portions of rural holdings that Brazilian law requires owners to conserve.

Additionally, according to a Global Witness investigation, almost 8,000 cattle from unlawfully occupied land within Apyterewa Indigenous territory reached JBS's supply chain between 2018 and 2023.

What's being done?

JBS said in a statement that it lacks the information needed to assess the allegations, which it disputes. Mongabay also reported that Barclays declined to comment.

Meanwhile, in an email to the outlet, a spokesperson for coalition member Mighty Earth described JBS as "aware of the key findings."

Coalition coordinator Bláithín Quigley also said, "Illegal deforestation of the Amazon is a crime, not a business model." 

Where can I learn more?

The complaints against JBS put both Amazon deforestation and the banks financing the company under scrutiny. These stories cover Amazon clearing and emissions as well as alleged lobbying against deforestation rules:

• Interpol linked 161 firms to Amazon clearing across Latin America, with 233 arrests.

• Brazil's Amazon emissions nearly quadrupled without a drought, according to a study.

• Mondelēz allegedly lobbied to weaken and delay EU deforestation rules, a watchdog says.

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