Cases of illegal deforestation were found in suppliers of the two companies in which Morgan Stanley holds stakes. Documents obtained by Repórter Brasil show that Marfrig bought cattle from the family of one of the largest deforesters in the Amazon. The two meatpacking companies in which Morgan Stanley holds shares are also linked to farms that have been fined for illegal deforestation in their supply chains.

The Business and Human Rights Resource Centre contacted Morgan Stanley to respond to these allegations; the response can be found below.