VeganPizza69 ⓋⒶ"Banks driving increase in global meat and dairy production, report finds"
CW: photos of meat processing:
The article is about a new report called: "Still butchering the planet". PDF here:
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.
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