Cargill is one of the world’s largest agricultural companies. It is financed by major banks despite failing to meet zero deforestation by 2020 commitments and an extensive legacy of rights abuses.
Based in the U.S., Cargill exports soy from Brazil and increases deforestation rates as they expand operations into the Brazilian Amazon and the Cerrado. Their many port developments threaten the lives and livelihoods of Indigenous and traditional communities. The latest soy expansion project involves a proposed river port in Abaetetuba, Pará, located on the Amazon river. If built, the port is expected to cause serious damage to the river ecosystem, impacting fishing communities.
The issues in Cargill’s latest plans are part of a long track record of continued failures to clean up its supply chains or to comply with national laws on Indigenous Peoples’ rights. Yet since 2019, Cargill has received US$473 million in credit for its soy operations. Cargill is financed by BNP Paribas, Bank of America, JPMorgan Chase, MUFG, UBS, and others. These banks are lagging behind international best practices on environment and human rights.