Private financial institutions and development banks are continuing to bankroll this destructive industry. We are working to engage with these two key players to bring about changes to our food systems.
Development banks are funded by governments, and are supposed to promote sustainable growth, human rights, reduce poverty and inequality, and improve lives. However, for decades they have pumped money into exporting factory farming systems around the world. We call on development banks to stop funding factory farming. Instead, they should support and help expand truly sustainable farming projects with a focus on plant-based proteins and high animal welfare, that take into account the needs of animals, local communities and the environment.
Private financial institutions
Private financial institutions like banks, pension funds and insurance companies have trillions of dollars tied up in companies that are linked to factory farming, like animal producers, feed companies, supermarkets and restaurants. For too long, they have focused on short-term profits, with little thought for animal welfare or the long-term impacts of factory farming. This means that our money – our pension pots, our insurance premiums, and our bank deposits – are likely funding factory farming. Financial institutions have a lot of power – that’s why we’re asking them to develop strong animal welfare policies, and use their influence to engage companies to improve their practices.
We want these financial institutions to acknowledge the negative impacts on animals, people and our planet generated by factory farming.
It’s time to use their power to change the way the world works. This means putting pressure on companies to improve their practices; introducing animal welfare, climate or biodiversity criteria that will reduce investment to factory farming; and investing more in humane and sustainable proteins.
We believe fairer finance is beneficial for animal welfare and a more sustainable future, which can also reinforce companies’ economies of scale and market competitiveness in a long term.