Marfrig gets money on sustainability program
Marfrig is the first company in Brazil to issue Sustainable Transition Bonds. "The issuance of the bonds took post after a rigorous and extensive international audit that complied with the conformity of the operations of Marfrig Global Foods with the best practices of corporate governance and its public commitment to the preservation of the Amazon biome. Actions like this place Marfrig as a global benchmark in sustainability" said the company in a post on LinkedIn.
According to the information posted, the Brazilian meat processor has raised $500 million after issuing the bonds. The audit for the practices adopted to combat deforestation in the Amazon rainforest, violence against indigenous peoples and the use of slave labor within the Amazon Biome was conducted by DNV-GL, an independent international consulting firm specializing in corporate and environmental risk analysis. It is the seventh year when Marfrig receives the certification.
The audit assessed the animal purchases made from January 1 to December 31, 2018. For the seventh year, Marfrig was certified in compliance with the commitment first undertaken in 2009. The DNV-GL team verified that Marfrig’s cattle procurement team, aligned with the Sustainable Cattle Farming team, systematically has knowledge of all instructions of the social and environmental procedures for cattle sourcing and that it maintains in all its units a system that automatically identifies and prevents any attempt to purchase cattle from producers who violate the commitment and who have been blacklisted by Ibama, the Brazilian environmental protection agency, or by “slave labor” lists, and who have not engaged in fresh deforestation activities after 2009. It also attested that Marfrig conducts geospatial analysis of the properties located in the biome, which allows it to cross information and identify whether the properties operate in deforestation areas, conservation units and indigenous land.
“Sustainability is part of the company’s DNA. Animal welfare, environmental and social responsibility and partnerships with producers, entities and non-governmental organizations guide our operation,” said Paulo Pianez, sector director at Marfrig.
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