Critics fear decision to list Brazil-based firm JBS, long linked to Amazon’s deforestation, will add to the climate crisis

Environmental groups are outraged that the world’s biggest meatpacking company, JBS, which has long been linked to Amazon’s deforestation, has received approval from US authorities to list on the New York Stock Exchange.

The decision, announced on Tuesday by the Securities Exchange Commission, follows reports that JBS subsidiary Pilgrim’s was the biggest donor to the inauguration committee of Donald Trump. Since taking power, Trump has reduced the independence of the SEC and other agencies, demanding their work be “controlled” by the president.

The Brazil-based company’s shares elsewhere hit a record high on Tuesday when news broke of the SEC ruling on the contentious application, which has been tussled over for several years, and is a joint listing with Amsterdam.

Last week, JBS filed a report to the SEC saying it would hold a general shareholders meeting about the listing on approximately 23 May, and that the first day of trading of its shares in New York could be as early as 12 June.