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.

Digital Assets Head Weighs in on Spot Bitcoin ETF Race in the U.S.

06:12

Understanding the Success of Spot Bitcoin ETFs in Brazil

06:12

Understanding the Success of Spot Bitcoin ETFs in Brazil

01:15

Hashdex CEO Discusses Brazil's 'Sophisticated' Market for Crypto

05:50

Mastercard's Crypto Card Partnership With Binance Is Ending

Also read: Ecological Sanity Is Compatible With Human Freedom

Disclosure

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

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Consensus

01

07

23

50

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.

Digital Assets Head Weighs in on Spot Bitcoin ETF Race in the U.S.

10 Years of Decentralizing the Future

Digital Assets Head Weighs in on Spot Bitcoin ETF Race in the U.S.