{"id":94958,"date":"2026-07-10T13:16:17","date_gmt":"2026-07-10T16:16:17","guid":{"rendered":"https:\/\/redept.com.br\/blogosfera\/bp-investors-decline-to-comment-on-deforestation-allegations-involving-the-companys-ethanol-operation-in-brazil\/"},"modified":"2026-07-10T13:16:17","modified_gmt":"2026-07-10T16:16:17","slug":"bp-investors-decline-to-comment-on-deforestation-allegations-involving-the-companys-ethanol-operation-in-brazil","status":"publish","type":"post","link":"https:\/\/redept.com.br\/blogosfera\/bp-investors-decline-to-comment-on-deforestation-allegations-involving-the-companys-ethanol-operation-in-brazil\/","title":{"rendered":"BP investors decline to comment on deforestation allegations involving the company\u2019s ethanol operation in Brazil\u00a0"},"content":{"rendered":"

NORGES BANK INVESTMENT MANAGEMENT<\/strong>, BlackRock, Elliott and Vanguard\u2014 all among BP\u2019s largest shareholders over the past 12 months \u2014\u00a0 declined to comment to Rep\u00f3rter Brasil<\/strong> on allegations that environmental damage was caused by construction works at a sugar mill operated by one of the company\u2019s subsidiaries in Brazil.<\/p>\n

According to complaints submitted to the Tocantins State Public Prosecutor\u2019s Office (MP-TO) in September 2025, the installation of a water pipeline intended to irrigate sugarcane plantations and supply water to Pedro Afonso Bioenergia\u2019s ethanol plant allegedly altered the natural flow of local waterways, destroyed springs, and affected fish breeding areas in the Tocantins River. Pedro Afonso Bioenergia is a subsidiary of BP Bionergy, a company controlled by BP.<\/p>\n

In May 2026, a new complaint accused the company of clearing approximately 5,000 hectares of the Cerrado biome\u2014the equivalent of approximately 7,000 football fields\u2014to establish cultivation areas intended for irrigation. The deforestation allegedly took place without environmental studies proportionate to the scale of the intervention.\u00a0<\/p>\n

:: Read also: Brazil prosecutors examine whether BP\u2019s ethanol plant caused environmental damage in the state of Tocantins ::<\/strong><\/p>\n

BP investors remain silent<\/h2>\n

BP is a publicly traded British multinational whose shares are listed on major stock exchanges around the world. One of its largest shareholders is Norges Bank Investment Management (NBIM), which manages the world\u2019s largest sovereign wealth fund on behalf of the Norwegian government. In a statement to Rep\u00f3rter Brasil, NBIM said only that it applies climate and nature guidelines across its investment portfolio but does not comment on single investments in the portfolio (read the full response here).\u00a0<\/p>\n

In a document outlining its expectations on nature for portfolio companies, the fund states that companies should \u201cdemonstrate whether they have eliminated deforestation and peatland loss from their business activities and value chains\u201d and respect \u201cthe right to free, prior and informed consent for indigenous people\u201d.<\/p>\n

According to data from LSEG, the global financial markets infrastructure and data provider, investment managers BlackRock, Elliott, and Vanguard ranked among BP\u2019s largest shareholders in 2025. None responded to Rep\u00f3rter Brasil<\/strong>\u2018s requests for comment.<\/p>\n

In its official stewardship guidance on natural capital, BlackRock states that it expects companies with significant impacts on natural habitats to \u201cpublish no-deforestation policies and strategies on biodiversity.\u201d Vanguard, meanwhile, says that corporate boards should exercise \u201coversight of material risks\u201d\u2014including environmental risks\u2014that could affect long-term investment returns.<\/p>\n

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ASSINE NOSSA NEWSLETTER<\/h2>\n<\/p><\/div>\n<\/p><\/div>\n
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