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Banks for Animals 2024 Report rates financial institutions on animal welfare policies

Banks for Animals released their 2024 updated report, “Beyond Profits: Global Review of Financial Institutions in Animal Welfare and Food Systems.” This report ranks and assess over 80 financial institutions in 22 different countries based on their public-facing policies and how they address animal welfare and sustainable food systems.


While it is disappointing to see that not many financial institutions properly addressing animal welfare and the protein transition, there was improvement over last year's report.


The Banks for Animals’ blog stated, “Key findings from the global assessment highlight a concerning trend: just 10% of the evaluated financial institutions have policies to divest from animal cruelty practices and promote plant-based alternatives, with over 53% scoring zero. Despite some progress, with eleven banks improving their policies since 2023, notable entities like Goldman Sachs and ICBC have regressed in their previous commitments.”


“This report also presents a case study of a campaign that asks the Dutch bank Rabobank to fully implement its animal welfare policies, requiring that some of its clients, such as the international retailers Makro and Ahold Delhaze, stop sourcing eggs from hens confined in controversial battery cages in all their operations—including in lower income countries like Argentina, Colombia, and Indonesia.”

 

ABOUT Banks for Animals: Banks for Animals is a project launched in 2021 by international NGO Sinergia Animal to bring more transparency to the financial sector. The goal is to raise awareness about the policies (or the lack of them) from banks and investors around the world when it comes to credit and investments that don’t comply with the most basic requirements of animal welfare.

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