The Oatly Milk Controversy, Explained
After a firm with ties to deforestation invested in the Swedish oat milk company last month, fans are calling for a boycott.
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In mid July, however, Oatly earned a valuation of $2 billion after a $200 million investment from Blackstone Growth, per Bloomberg. Blackstone's major investment alongside its alleged ties to deforestation in the Amazon are now at the center of the current controversy.
As Young wrote in the caption, Blackstone has investments in Hidrovias do Brazil and Pátria Investimentos, two firms that "are directly contributing to the destruction of the Amazon rainforest."
Per a report from the Intercept last August, the Brazilian firms Young mentioned "are significantly responsible for the ongoing destruction of the Amazon rainforest," as they have taken control of land, deforested it, and helped build a "controversial" highway "to facilitate the cultivation and export of grain and soybeans."
While Oatly's intentions may be good, the situation highlights the challenges in "ethical" and conscious shopping.