Banks Urged to Stop Financing Livestock Production

Over 100 climate groups are pressuring JPMorgan Chase, Citigroup, and other private banks to stop financing global meat and dairy companies.  According Agriculturedive.com, the institutions’ lending activities undermine the environmental commitments of those groups.  An open letter from organizations led by Friends of the Earth to some of the world’s biggest banks calls for a halt on any new financing that expands industrial livestock production and to add requirements that meat, dairy, and feed clients disclose their climate action plans.  The letter calls out the banks by name for supporting the world’s biggest meat, dairy, and animal feed producers like JBS, Tyson Foods, and others.

While food companies are a small part of the banks’ overall lending portfolios, the groups say they have a much bigger impact on the institutions’ environmental footprints. The letter said Increased lending has let the world’s biggest emitters grow their operations and emissions.

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