EMPTY PROMISES

Global Witness reports that Cargill has purchased soy from farms in Bolivia where over 20,000 hectares of forest were razed since 2017. The investigation highlights a systematic failure by Cargill to collect origin data for its soy supplies, undermining its 'deforestation-free' commitments. Furthermore, a leaked company map suggests Cargill may target areas that would put over three million hectares of forest at risk. The report also identifies several global banks, including Barclays, BNP Paribas, HSBC, and Santander, as providers of billions of dollars in financing to Cargill despite their own anti-deforestation pledges.

• Cargill has directly purchased soy from farms in Bolivia's Santa Cruz region where more than 20,000 hectares of forest have been cleared since 2017, specifically within Mennonite colonies such as Nuevo Mexico, Nueva Esperanza, La Honda, Hacienda Verde, and Valle Verde.
• Cargill is failing to record the specific origin of soy at its storage facilities, often listing only 'Santa Cruz' as the provenance, which makes it impossible to verify if the soy is deforestation-free.
• Analysis of a leaked Cargill map indicates the company may be open to sourcing soy from areas that would require the clearing of more than three million hectares of standing forest.
• Major global financial institutions have provided billions of dollars in services to Cargill since 2021, including a US$6 billion revolving credit facility arranged by a consortium including BNY Mellon, BNP Paribas, Deutsche Bank, and HSBC, and US$2 billion in bonds underwritten by BNP Paribas, Barclays, Santander, and Bank of America.
• The Chiquitano Forest, described as the last great tropical dry forest in the world, is a critical ecological transition zone currently facing increasing and alarming deforestation rates driven by soy and cattle-ranching.
• The Bolivian government has implemented a program of environmental deregulation, including laws that make it easier for smallholders to deforest up to 20 hectares and the reduction or abolition of fines for illegal clearing.

APA

Global Witness (2023). EMPTY PROMISES. https://globalwitness.org/documents/115/Empty_Promises_Cargill_Soy_Banks_September_2023.pdf

Chicago

Global Witness. EMPTY PROMISES. 2023. https://globalwitness.org/documents/115/Empty_Promises_Cargill_Soy_Banks_September_2023.pdf.

Wikipedia

{{cite report |author=Global Witness |title=EMPTY PROMISES |date=September 2023 |url=https://globalwitness.org/documents/115/Empty_Promises_Cargill_Soy_Banks_September_2023.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{globalwitness2023empty, author = {{Global Witness}}, title = {{EMPTY PROMISES}}, institution = {Global Witness}, year = {2023}, month = sep, url = {https://globalwitness.org/documents/115/Empty_Promises_Cargill_Soy_Banks_September_2023.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }