Findings – 2024

The preliminary company findings were first presented at biodiversity COP16 in Cali in October 2024. The complete report and full data were made available in December 2024. Updated findings were published in October 2025 and the full dataset in November 2025.

The findings reveal that companies and financial institutions in cattle supply chains have a long way to go to make progress on deforestation, ecosystem conversion and associated human rights abuses.

The 2024 Floresta 250 – Cattle report finds that:

80% of cattle sector heavyweights are ignoring their links to Brazilian deforestation

Eight in 10 (83%) of the assessed companies are yet to publish deforestation commitments for at least one of the cattle commodities relevant to them (they were assessed based on links to beef and leather).

Similarly, eight in 10 (80%) of the financial institutions assessed have not published a deforestation policy for cattle products. This includes Vanguard, BlackRock and JPMorgan Chase, the three financial institutions providing the most finance to the assessed companies.

There is little evidence of implementation

Commitments must be supplemented with disclosure on implementation, but company action on this front is weaker yet. Even among companies and financial institutions that have published deforestation commitments, not enough are following up by publishing evidence of implementation.

Nine in 10 (91%) companies had not publicly disclosed any of their volumes as deforestation and/or conversion-free for leather, 88% for beef.

Even among companies with commitments, many did not require suppliers to be aligned or committed to deforestation and/or ecosystem conversion-free standards across their operations. Only 24% required this from their suppliers for beef, and 31% for leather.

Only 6% of financial institutions required clients/holdings to have a traceability mechanism in place.

Human rights issues are overlooked

Any effective approach to tackling deforestation in company supply chains and financial portfolios must address human rights. Four human rights areas are critical for an effective approach on deforestation and ecosystem conversion: (i) respecting customary rights to land, resources and territory; (ii) securing Free, Prior and Informed Consent; (iii) following a zero-tolerance approach to violence and threats against forest, land and human rights defenders; and (iv) respecting labour rights. The Floresta 250 – Cattle findings show little progress on this front.

Only three of the 175 companies (Nestle, General Motors and Colgate-Palmolive) have publicly committed to addressing the most critical human rights issues in commodity supply chains.

None of the financial institutions assessed had publicly available policies covering these rights when looking at cattle products.

Deforestation is a solvable crisis

The good news is that deforestation is a solvable crisis. High quality data and frameworks are available and have been successfully applied by leaders in the financial sector. 

A clear, practical and viable path exists for financial institutions to follow, applying the Finance Sector Roadmap.

Delaying action now will make effective action more expensive and difficult in the future.