World's Biggest Meat Processor to Tackle Amazon Deforestation Using Blockchain Tech

JBS S.A. aims to track all of its cattle suppliers on a blockchain system by 2025.

Sep 24, 2020 at 9:41 a.m. UTC
Updated Sep 14, 2021 at 9:59 a.m. UTC

JBS S.A., the biggest meatpacker globally by sales, plans to use blockchain technology to stem deforestation caused by cattle suppliers in the Amazon.

  • As reported by Reuters Wednesday, the Brazilian company aims to be monitoring all of its meat suppliers on a blockchain system by 2025.
  • JBS said currently it checks that all direct suppliers do not clear forest without authorization, but others further down the chain may "launder" meat from cattle raised on illegally cleared ground.
  • The announcement comes as the company seeks to counter criticism of the meat industry in the region, which is said to be responsible for extensive forest clearances to make way for cattle pastures.
  • JBS also announced it would set up a fund worth 1 billion reals (around $179 million) fund to support social and economic development in the Amazon.
  • The company aims to provide 25% of the funding (250 million reals) itself over the first five years, with other parties expected to join the initiative and match its donation.
  • Another 25% may follow later if third-party support is strong enough, JBS' global CEO, Gilberto Tomazoni, told Reuters.
  • Despite years of campaigning from environmentalists, Amazon rainforest destruction is still soaring.
  • Reuters said an area the size of Lebanon was cleared in 2019 – the most in over 10 years.
  • The extensive forest fires that have plagued the region have also been linked to the beef industry.
The Festival for the Decentralized World
Thursday - Sunday, June 9-12, 2022
Austin, Texas
Save a Seat Now

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Trending

1
CoinDesk - Unknown
Crypto News Roundup for May 25, 2022

With bitcoin seemingly unable to break above the $30,000 threshold, plus a look at the suspects in the cast of the UST collapse, CoinDesk’s "Markets Daily" is back with the latest news roundup.

With bitcoin seemingly unable to break above the $30,000 threshold, plus a look at the suspects in the cast of the UST collapse, CoinDesk’s "Markets Daily" is back with the latest news roundup.

CoinDesk - Unknown
2
CoinDesk - Unknown
ApeCoin

CoinDesk - Unknown
3
CoinDesk - Unknown
Proof-of-Work vs. Proof-of-Stake: What Is the Difference?

Proof-of-work (PoW) and proof-of-stake (PoS) are two different methods to validate cryptocurrency transactions.

Proof-of-work (PoW) and proof-of-stake (PoS) are two different methods to validate cryptocurrency transactions.

CoinDesk - Unknown
4
CoinDesk - Unknown
Golf Brand Callaway Joins LinksDAO as Equity Investor, ‘Strategic Partner’

The DAO that wants to buy a golf course is adding a big name to its cap table.

The DAO that wants to buy a golf course is adding a big name to its cap table.

CoinDesk - Unknown