Three US banks’ lending to meat, dairy and feed companies represents just 0.25 per cent of their loans but roughly 11 per cent of their reported financed emissions, says a study published this month by non-governmental organisations Profundo and Friends of the Earth.
The report looked at the $134bn in lending and underwriting to meat, dairy, animal feed, food processing and agri-commodity companies provided between 2016 and 2023 by 58 US lenders. More than half of the financing examined in the report comes from just three major banks: Bank of America, Citi, and JPMorgan.
