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Banks and pension funds among investors bankrolling meat and dairy

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Banks and pension funds among investors bankrolling meat and dairy

Written by Sophie Kevany

£380bn in backing comes despite calls by scientists for large reductions in meat consumption to help avoid climate crisis

Banks, investors and pension funds have poured billions into the world’s largest meat and dairy companies over the past five years, a new report has found. It compares the environmental impact of “‘big ag” to that of big oil.

The report, published on Thursday, said private financial backing for the world’s 35 largest meat and dairy companies totalled an estimated $478bn (£380bn) between January 2015 and 30 April this year.

The financing came in the form of loans, bonds and share ownership from the likes of BNP Paribas, Barclays, HSBC, Prudential UK, Standard Life Aberdeen, Legal & General and UK pension funds, including the Universities Superannuation Scheme and the Railways Pension Scheme.

Scientists have repeatedly expressed alarm over the environmental impact of large-scale food and dairy production and are calling for a transformation of the global food system. They say the current model is responsible for up to 30% of greenhouse gas emissions and 70% of freshwater use, with huge reductions in meat-eating essential to avoid climate crisis.

Related: Revealed: development banks funding industrial livestock farms around the world

Related: Revealed: UK banks and investors' $2bn backing of meat firms linked to Amazon deforestation

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Webinar: Expanded Sustainable Farming Incentive offer 2024 -26th Sept

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On Thursday 26th September, we’re holding a webinar for farmers to go through the guidance, actions and detail for the expanded Sustainable Farming Incentive (SFI) offer. This was planned for end of May, but had to be delayed due to the general election. We apologise about that.

Farming and Countryside Programme Director, Janet Hughes will be joined by policy leads working on SFI, and colleagues from the Rural Payment Agency and Catchment Sensitive Farming.

This webinar will be...
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