Meatpacker’s IPO challenge is SEC’s chance to take a stand on climate issues
Several groups are asking the SEC to block JBS' NYSE listing on the basis of the company’s environmental track record.
The Securities and Exchange Commission’s (SEC) authority on climate issues has been heavily challenged in recent months, but a controversial IPO application by Brazilian meatpacker JBS could be a fresh chance to influence climate action.
It has been a tough few months for the SEC’s climate agenda: its proposed climate rule, already delayed several times, is facing increasing opposition by conservatives in the US. These consider sustainability to be beyond the financial regulator’s authority, and are attempting to block the final disclosure rules through threats of legal action, House committee hearings and smear campaigns.
