Tell Wall Steet to DEFUND factory farms.

If Wall Street banks withdraw support for meat, dairy, and feed corporations, our climate wins. You win. The entire planet wins.

Big Banks are supporting the corporations responsible for factory farming to the tune of billions of dollars each year. Industrial livestock and animal feed operations churn out pollution and greenhouses gases, and people and the planet are suffering as a result.

Your message to Wall Street banks could make a difference. Banks will struggle to meet their own climate goals if they fail to address this financing – and you can help them see this imperative.

But we need your help right now. Banks need to hear from you to be held accountable for bankrolling the meat, dairy and feed corporations that are driving increased greenhouse gas emissions and worsening the climate crisis.

Comments

Dear Jane Frazer, CEO of Citigroup; Brian Moynihan, CEO Bank of America; and Jamie Dimon, CEO JPMorgan Chase,

I am writing to urge your bank to end all financial support that enables the expansion of industrial livestock production.

Industrial livestock— meat, dairy, and animal feed production—drives a majority of global food and agriculture emissions. Studies estimate livestock production will use up nearly half of the world’s 1.5°C emissions budget by 2030 and 80% by 2050. This is of major concern for the climate.

Reducing your bank’s financed and facilitated emissions from loans and underwriting for meat, dairy, and feed corporations presents an opportunity to achieve significant progress towards your bank’s climate commitments by making only tiny shifts in your bank’s portfolio. According to a recent analysis by Friends of the Earth and Profundo, financing to meat, dairy, animal feed, food processing, and agri-commodity corporations represents just 0.25% of total loans outstanding for Bank of America, Citigroup, and JPMorgan Chase but roughly 11% of the banks’ financed emissions. This means that the emissions footprint of industrial livestock-related financing is 44 times greater than its portion of the banks’ lending portfolios.

Let’s be clear: climate risk is financial risk. This is widely understood among global investors and financial system regulators. Continued financing of corporations involved in meat, dairy, and feed production, and therefore the climate crisis, is a threat to a sustainable economy. To deliver on your stated climate commitments, your bank must treat industrial livestock as a high-emitting sector and halt all financing that enables its expansion.

Thank you for considering my opinion.

Sincerely,

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