Barclays has informed its beef sector clients that they must prevent deforestation in their South American supply chains, according to a policy document seen by Reuters. The bank’s new policy on deforestation, effective from July 1, requires beef producers to prohibit the production or primary processing of beef on or from areas in the Amazon cleared or converted after 2008. Companies must also commit to a deforestation-free South American beef supply chain with full traceability by 2025. The bank said it had “not provided financing to entities that undertake these activities since 2021” following “enhanced due diligence and oversight for clients engaged in beef production or primary processing operations in Brazil”.
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