US Banks ‘Sabotaging’ Climate Targets By Financing Meat And Dairy
A new study has found that 58 banks in the United States are “sabotaging” their own net-zero commitments by providing financing to meat, dairy and animal feed corporations.
Research for the report, Bull in the Climate Shop: Industrial livestock financing sabotages major U.S. banks’ climate commitments, was conducted by U.S. environmental nonprofit Friends of the Earth and Profundo, a research group based in the Netherlands.
From 2016 to 2023, $134 billion in loans and underwriting was provided to meat, dairy, food processing, animal feed and agri-commodity corporations by 58 U.S. banks, according to the report.