JBS, the global leader in animal protein production, is striving for a New York Stock Exchange listing, a move hampered by past scandals and economic challenges.
The company, led by the Batista brothers, now confronts global criticism over its environmental and ethical practices, compounded by a greenwashing lawsuit in New York.
Since its 2007 IPO on São Paulo’s B3, JBS has aimed for a dual listing to tap into the US’s cheaper capital.
The firm asserts that listing in the US would enhance governance oversight in line with SEC and NYSE regulations.
The São Paulo-based company is countering allegations of environmental harm and demonstrating its commitment to ethical supply chain management.
However, international resistance was spearheaded by the “Ban the Batistas” initiative and legislative efforts in both the US and UK.
The initiative targets JBS’s ethical and environmental shortcomings, urging the SEC to block the company’s IPO bid.
This pushback highlights concerns over JBS’s impact on deforestation and its past corruption issues.
A lawsuit by the New York Attorney General accusing JBS’s US entities of making false environmental claims adds to the company’s challenges.
It showcases the increasing demands for corporate accountability in environmental and governance practices.
JBS argues that a dual listing would serve the interests of a broad spectrum of stakeholders, promoting sustainable production methods.
Despite facing significant obstacles, the company remains committed to pursuing its US listing.
It underscores its pledge to environmental stewardship and the support of its stakeholders for its growth plans in the US market.