Bunge and ADM Boards: stop deforestation!
Last year the Amazon Rainforest lost 11,000 square km of forest – equivalent to three football fields every minute. Meanwhile other biomes in Latin America such as Argentina's Gran Chaco and Brazil's Cerrado are being cleared at a rapid pace to make way for the expansion of the soy and beef industries. Destruction of these ecosystems is driving wildlife to extinction, worsening climate change, and pushing local communities off of their land.
U.S. agribusinesses Bunge and ADM bear responsibility for driving this problem by buying soy from cleared areas - incentivizing and encouraging the clearance. Mighty Earth's soy and cattle tracker has documented thousands of acres of clearance linked to ADM and Bunge’s supply chain in the past year alone. This soy is then sold as animal feed to fuel the global meat industry.
As two of the largest soy traders in the world, ADM and Bunge have unique power to both cause and prevent further destruction brought about by soy production in Latin America. Given their market share and influence, if both Bunge and ADM change their buying practices, we will have a critical mass to tip the entire agribusiness industry and catalyze a historic shift towards forest protection and regenerative agriculture.
Just weeks ago, 160 of the world's largest food companies like Tesco, Unilever, and McDonalds came together to call on their suppliers stop sourcing soy from environmentally-sensitive areas in Latin America. Regulation is underway in Europe that would also block imports of soy from these regions. ADM and Bunge should play the long-game and accept that adopting regenerative practices is the best strategy for ensuring their companies can thrive well into the future.
Shareholders recognize that destroying the environment is bad for our planet and bad for business. Earlier this year, over 65% of shareholders- including Blackrock- voted in favor of a shareholder proposal urging Procter & Gamble to adopt strong forest protections. Now shareholders are calling on Bunge and ADM to take the lead on protecting native ecosystems. Shareholders at both companies have filed resolutions, which will be reviewed and voted on by the ADM and Bunge boards of directors in the coming weeks. Join us in calling on these companies to swiftly adopt these resolutions and protect our planet’s most treasured forests.