Bull in the Climate Shop: Industrial Livestock Financing Sabotages Major U.S. Banks’ Climate Commitments

This report examines U.S. bank financing of meat, dairy, and feed corporations and the sizable climate impact of that financing. As the climate crisis has intensified, U.S. banks have come under increasing pressure to slash their greenhouse gas (GHG) emissions attributable to the loans, underwriting, investments, and other financial services they provide. Many of the largest banks have responded to these demands by committing to align their portfolios with pathways to net zero by 2050 or sooner. While leading U.S. banks have made bold statements regarding the importance of reducing emissions from food and agriculture, such statements have yet to translate into action — especially for industrial livestock which drives a majority of global food and agriculture emissions.