Friends of the Earth: ‘105 Orgs Demand Banks Stop Financing Industrial Livestock Production that Fuels the Climate Crisis’
By Marc Morano
September 14, 2024
10:58 am
https://foe.org/news/banks-industrial-livestock/New York – 105 civil society organizations from across the globe have raised concerns with major U.S. banks today, urging them to halt their financing of industrial livestock production. The open letter, delivered to financial giants including Bank of America (BAC), Citigroup (C), and JPMorgan Chase (JPM), highlights the critical role these institutions play in exacerbating the climate crisis through their support of meat, dairy, and feed corporations, including companies like JBS S.A. (JBSAY), Tyson Foods Inc. (TSN), Cargill, and Nestlé S.A. (NESN and NSRGY).
The letter underscores the severe environmental impacts of industrial livestock production. Signatories argue that the industry’s emissions significantly contribute to global warming and biodiversity loss while also inflicting substantial harm on animal welfare and human rights.
“Most global food and agriculture emissions come from livestock production, and studies have found that global livestock production will use almost half of the world’s 1.5˚C emissions budget by 2030 and 80% by 2050,” the letter states. The emissions from the top 56 global meat, dairy and feed corporations alone are reportedly higher than those of Japan, t😊he world’s eighth largest emitter.
https://www.climatedepot.com/2024/09/14/friends-of-the-earth-105-orgs-demand-banks-stop-financing-industrial-livestock-production-that-fuels-the-climate-crisis/
