In a letter addressed to major banks and financial institutions, a diverse group of 105 environmental activists and animal rights organizations called on banks to reduce financial support of intensive livestock production.  In their letter, the activists call for a halt of support for new projects.

 The activists called on banks to determine compliance with the “Intergovernmental Panel on Climate Change 2022 with the respect to meat, dairy and feed industries.”  The letter stressed the importance of intensive livestock production to global greenhouse gas emissions including release of carbon dioxide and methane. 

The activists noted that half of the 2023 loans and underwriting amounting to $134 billion for meat, dairy and feed companies was extended by Bank of America, Citigroup and J.P. Morgan Chase with the major clients including Cargill, ADM, Bunge and Nestle.  JBS funding by Bank of America was highlighted as this producer was responsible for a substantial proportion  of methane emissions from meat production worldwide.