More than 100 climate groups are pressuring JPMorgan Chase, Citigroup, and other private banks to stop financing global meat and dairy companies. Agriculture Dive Dot Com says the institutions’ lending activities undermine their environmental commitments.
An open letter from groups 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 says increased lending has let the world’s biggest emitters grow their operations and emissions.
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Sabrina Halvorson
National Correspondent / AgNet Media, Inc.
Sabrina Halvorson is an award-winning journalist, broadcaster, and public speaker who specializes in agriculture. She primarily reports on legislative issues and hosts The AgNet Weekly podcast. Sabrina is a native of California’s agriculture-rich Central Valley.