The Brazilian company JBS, the world’s biggest meat processor, has announced record profits a day after it pledged to reach net-zero greenhouse gas emissions by 2040 – the first global meat and poultry company to do so.
Surging exports to China and Hong Kong fed its record profit of 4bn Brazilian reais (GBP516m) for the last quarter of 2020 – up a staggering 65% on the previous year – the company said on Wednesday night. Sales to China and Hong Kong from Brazil grew by about 60%, it said.
The results meant the world’s biggest protein producer had “plenty of money to spend in removing illegal deforestation from its Amazon supply chain”, as it promised to do by 2025, said Mauro Armelin, director of Friends of the Earth for the Brazilian Amazon. And it had no excuses if it failed to meet a target it originally promised to hit in 2011, he added.