Advertisement

Newsroom

Grieg Seafood to exclude Cargill over deforestation claims

The company said it would not buy from Cargill’s Aqua Nutrition subsidiary until its mother company had “significantly reduced” its “soy-related deforestation risk in Brazil” in a move to apply pressure on supply chains.

Grieg Seafood to exclude Cargill over deforestation claims

July 8, 2020

Norway’s Grieg Seafood issued bonds worth NKr1bn ($105m) with the condition that the proceeds do not find their way to Cargill that has been accused of failing to protect rainforests in the Amazon, reports the Financial Times.

The salmon producer will use raised money to finance environmental projects including sustainable aquaculture and pollution control. The company also said it would not buy from Cargill’s Aqua Nutrition subsidiary until its mother company had “significantly reduced” its “soy-related deforestation risk in Brazil” in a move to apply pressure on supply chains.

Cargill previously reported continued progress toward building a deforestation-free soy supply chain. The company outlined key achievements, including mapping of its Brazilian soy supply chain, in its mid-year progress report.

Advertisement

Latest Magazine

Event news