JBS Delays IPO

Bloomberg reports that JBS’s planned IPO, which Mighty Earth has called the biggest climate risk IPO in history, “will likely be delayed into the second half of 2024.”

In response to the news, Mighty Earth CEO Glenn Hurowitz released the following statement:

“JBS can spin this however it wants, but any delay of the JBS IPO is a bad sign for the world’s biggest meatpacker — and an unambiguous win for the climate and nature.

“The longer investors and regulators have to learn about JBS’s history of greenwashing, corruption, and pollution, the harder it will be for the SEC to allow this IPO to move forward.

“It appears that JBS’s failure to address its climate and deforestation footprint is preventing it from realizing its financial strategy and costing it billions of dollars. If JBS executives were smart, they’d announce a serious decarbonization plan before trying to put themselves before U.S. capital markets.”