Abiove, which includes ADM (ADM.N), Bunge (BG.N), whose members include Cargill, Cofco and Louis Dreyfus, confirmed that it had ‘initiated talks’ to exit the pact, which is supported by the federal government and environmental groups.
The WWF said in a note that the decision was a setback for the environment.
The companies’ exit from the pact ‘weakens one of the most effective tools to combat deforestation in the country’ and exposes farmers to increasing climate risks, WWF said.
