"Banks driving increase in global meat and dairy production, report finds"
CW: photos of meat processing:
https://www.theguardian.com/environment/2024/mar/18/banks-driving-increase-in-global-meat-and-dairy-production-report-finds
The article is about a new report called: "Still butchering the planet". PDF here:
https://feedbackglobal.org/wp-content/uploads/2024/03/Feedback-2024-Still-Butchering-the-Planet-Report.pdf
Key findings:
• Since the Paris agreement was signed in 2015, over
half a trillion dollars in credit have been provided to
the world’s largest 55 industrial livestock companies
– an average of $76.9 billion per year – fuelling the
expansion of global meat and dairy production.
• As of March 2023, a total of $323.3 billion in
shareholdings and bondholdings were held by
private financial institutions in the world’s largest 55
big livestock companies.
• Expansion of meat and dairy production is
completely at odds with the imperative to
restrict global temperature rise in order to avert
catastrophic climate change.
• Despite this, our analysis shows that finance for
big livestock companies is on the rise. In the four
years between 2019-22, there was an overall 15%
increase in finance to the 55 big livestock companies
compared to 2015-18.
• Just five of the 55 companies – JBS, Marfrig, Cargill,
Tyson Foods, and Minerva – combined cause an
estimated 595 million tonnes CO2-equivalent in
greenhouse gas emissions per year1, more than the
total emissions of the UK and Ireland2.
• At company level, Barclays is the largest global
creditor to JBS, Morgan Stanley is the largest global
creditor to Tyson Foods, and BNP Paribas is the
largest global creditor to Cargill.
• The biggest creditors to the top 55 big livestock
companies were: Bank of America ($28.8 billion),
Barclays ($28.2 billion) and JPMorgan Chase
($26.7 billion).
• The biggest investors in the top 55 big livestock
companies were BlackRock ($37.8 billion), Vanguard
($24.4 billion) and Capital Group ($21.4 billion).
• To mask their impacts, livestock companies are
increasingly resorting to creative accounting, pulling
the wool over investors’ and regulators’ eyes.
![An illustration of the Goddess Minerva in sepia or beige monotone and blue jewels, with a blue owl in flight, a sword in her hand, and a blue background in a sun motif with decorative wallpaper.
The artist's mark says E f B 2012.
The caption reads:
Choose your battles wisely.
No, that is too many battles. Put some back.
[Sigh] Still too many. Pick fewer battles.
No, that is still too many battles.
I got tired of seeing this meme with that viking warrior. Women are warriors, too, you know. - Miss Gayle](https://cdn.masto.host/urbanistssocial/media_attachments/files/113/488/831/439/645/660/original/a3f1e54604c7c99c.jpg "An illustration of the Goddess Minerva in sepia or beige monotone and blue jewels, with a blue owl in flight, a sword in her hand, and a blue background in a sun motif with decorative wallpaper.
The artist's mark says E f B 2012.
The caption reads:
Choose your battles wisely.
No, that is too many battles. Put some back.
[Sigh] Still too many. Pick fewer battles.
No, that is still too many battles.
I got tired of seeing this meme with that viking warrior. Women are warriors, too, you know. - Miss Gayle")
