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LONDON, UK: A report by environmental organisation Feedback says the world’s 55 largest industrial livestock companies have received over US$615 billion in financing since the Paris Agreement was signed in 2016.

As of March 2023, it included US$287.8 billion in stocks and US$35.5 billion in bonds with the top investors being BlackRock ($37.8 billion), Vanguard ($24.4 billion) and Capital Group ($21.4 billion).

Bank of America ($28.8 billion), Barclays ($28.2 billion) and JPMorgan Chase ($26.7 billion) topped the list of credit providers as the volume rose 15 percent between 2019-2022 compared to the previous four years. Barclays was the largest global creditor to JBS, Morgan Stanley to Tyson Foods and BNP Paribas to Cargill.

In addition to helping JBS, Marfrig, Cargill, Tyson Foods and Minerva grow and eat more animals, the financing has led to the annual production of an estimated 595 million tonnes of greenhouse gas emissions (CO2e) in the four-year period.

Feedback says the 55 livestock companies represent “about a fifth” of all the cattle, pigs and chickens butchered globally with no plans to reduce their output.

The report says this percentage equals a daily capacity to slaughter 44 million chickens, 199,000 cattle and 639,000 pigs – a volume that is unsustainable according to professor Hans Pörtner, scientist and co-chair of the UN Intergovernmental Panel on Climate Change (IPCC): “Without reducing and cutting down on meat consumption and the associated high-intensity agriculture systems, we will not be able to keep global warming to 1.5 degrees.”

According to a May 2023 study published in Nature Food, the US$14.0 trillion of externalities linked to the global food system includes 61 percent attributed to meat, dairy, eggs and animal fat causing an estimated US$8.5 trillion annually in externalized health and climate costs.

In addition to ending private funds for industrial livestock corporations and taxing any related pollution activity, Feedback says it wants governments to set limits on their pollution of water, air and soil, tax methane and nitrous oxide emissions, stop deforestation, increase protections for workers and restrict the use of antibiotics on animals.

https://feedbackglobal.org/
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