Marfrig Global Foods S.A. (Marfrig) is a Brazilian multinational corporation in the animal protein industry. It procures cattle from approximately 30,000 direct suppliers and up to 90,000 indirect suppliers, primarily operating in the Amazon and Cerrado biomes.

&Green’s financing will support Marfrig implement a comprehensive no- deforestation throughout its supply chain in the Amazon and Cerrado biomes. This policy applies to all tiers of farms associated with Marfrig, ensuring that the entire lifecycle of the cows, from birth to slaughter, is free from deforestation.

&Green and Marfrig have established specific milestones and targets for full traceability and zero deforestation in their supply chain. The loan structure includes incentives for expedited progress, potentially resulting in lower interest rates.

Marfrig Global Foods S.A. (Marfrig)
Mato Grosso, Brazil
E&S Risk Category
&Green Investment
USD 30 million
Investment Term
10 years
Financial Structure
&Green provided a USD 30 million loan, disbursed in Q1 2021. The loan carries a 10-year tenor and aims to be a catalyst for the company to issue more green debt in the markets over the coming years.
Impact Targets
1,254,500 hectares of protected forests
7,000 of degraded lands being intensified
6,000 hectares of restored native forest
157 smallholder farmers benefitting


The implementation of the impact targets related to land intensification, native forest restoration and smallholder farmers inclusion, expected to be done by IDH’s Sustainable Production Calves Program, has suffered delays, with activities starting only at the end of 2023. Progress will be reported during reporting year 2024.

&Green chose to support Marfrig to create momentum for sustainable and inclusive production models in Brazil, particularly in the cattle ranching sector, which is identified as the main driver of deforestation and habitat loss due to forest conversion to pastureland.

&Green’s investment supports Marfrig’s pioneering commitment to trace and monitor indirect suppliers, addressing deforestation caused by cattle ranching in Brazil. Marfrig’s commitment to trace and monitor both direct and indirect suppliers in Brazil’s fragmented and informal cattle sector serves as a potential proof of concept for the meat industry’s application of no-deforestation criteria in the supply chain.

Marfrig’s commitment extends beyond supply chain management. By establishing an inclusive and sustainable cattle supply chain, they aim to protect over 1 Million hectares of forest and restore natural forest in key areas. Cattle suppliers will benefit from market access and the sharing of best practices. Marfrig also commits to pastureland restoration on smallholder farms. &Green emphasizes the importance of including all producers to ensure deforestation-free compliance and transform business practices.


Compliance Targets

Marfrig brought forward its target of achieving full traceability of the direct and indirect suppliers in all biomes to 2025, that is five years earlier than planned initially. The company implemented the first cycle of official audits under the Legal Amazon cattle suppliers monitoring protocol (involving the Amazon and Cerrado regions), adopted by the MPF, being recognized as 100% in compliance by the federal government attorney.


By means of the Verde+ program reinclusion process, Marfrig has reintegrated 3,561 farms since 2021. Marfrig’s supply chain in Mato Grosso has 646 smallholder farms, 51 of them were re-included after technical assistance provided by Marfrig.

Animal welfare

Supplier farmers in Brazil fulfilled 85% of the Marfrig Club Program’s animal welfare criteria.

Third-Party Verification

For the first time, Marfrig has its Sustainability Report verified by a third-party, and included the progress on &Green’s ESAP implementation as part of the report.

As Sustainability Director of Marfrig, it brings me great pride to reflect on the significant developments of our partnership with &Green three years since their investment. Our commitment to combating cattle-driven deforestation obtained tangible progress made in tracing and monitoring both direct and indirect suppliers. It marks not just a continuation of our pioneering efforts but also a testament to the transformative power of collaboration in driving sustainable change within Brazil's meat industry, setting a precedent for industry-wide sustainability.


Director of Corporate Sustainability and Communication, Marfrig



Marfrig will continue investing to accelerate its Verde+ program.


Marfrig will implement the delayed IDH Sustainable Calf Production Program.


Marfrig will start ecological restoration project in partnership with relevant market players and forest restoration company called, aiming at restoration of 6,000 hectares of native forests.


Marfrig will launch Low Carbon Beef, a model based on low carbon technologies in the livestock farming sector, in line with the CCN protocol, developed in partnership with the Brazilian Agriculture Research Company (Embrapa).

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