HSBC sounds alarm over investment in meat giant due to deforestation inaction

Bank argues JBS has no action plan' to tackle link between indirect suppliers and Amazon destruction following Guardian investigation

Analysts at global banking giant HSBC have sounded the alarm over the potential risks of investing in JBS, the world's biggest meat company, after a string of investigations raising concerns about Amazon deforestation issues in its beef supply chain.

The meat giant has no vision, action plan, timeline, technology or solution" for monitoring whether the cattle it buys originate from farms involved in rainforest destruction, according to analysis by the bank, which has substantial investments in the troubled meat packing firm.