Climate Groups Demand Banks Stop Funding Industrial Livestock Production
Over 100 climate advocacy groups, under the umbrella organization Friends of the Earth, have urged major U.S. banks, including Bank of America, Citigroup, and JPMorgan Chase, to immediately stop funding industrial livestock production. The groups argue that such funding exacerbates climate change, biodiversity loss, food insecurity, and animal and human rights violations. They demand that banks treat livestock as a high-emitting sector, set and implement agriculture sector-specific climate targets, and cease financing that enables the expansion of industrial livestock production. The letter singles out Cargill, ADM, Bunge, and Nestlé as high-emitting corporations involved in meat, dairy, and feed production. It claims that food production significantly contributes to global warming and that investing in industrial livestock production is not sustainable. The groups conclude that banks cannot meet their climate commitments without reducing financing to meat, dairy, and feed corporations. The letter s demands pose a dilemma for banks, as they must balance their climate commitments with the potential consequences of ceasing funding for corporations that provide food for people. The Friends of the Earth groups advocate for a shift away from industrial livestock production, but the implications of their demands on food security and human rights remain a contentious issue.
Source: thenewamerican.comPublished on 2024-09-18
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