Feedback and World Animal Protection reveal the top 10 UK local authorities investing their pensions in factory farming
UK local authority pension funds hold £238 million of investments in industrial livestock companies, according to resarch published this week by Sustain alliance member Feedback, working with World Animal Protection. The researchers say that investment in such companies contributes to global climate change, deforestation, biodiversity loss, human rights abuses and animal suffering. The pension funds investigated were also found to hold £54 million investments in the large soya producer and trader ADM.
Take action: Find out how much your council’s pension is invested in industrial livestock, and call on your council to divest
Feedback and World Animal Protection are calling on responsible companies and institutions to divest from damaging industrial livestock production, especially as part of local authority plans to play their part in achieving Net Zero greenhouse gas emissions. In the report, they reveal the top 10 UK local authority pension funds with the largest investments in industrial meat and dairy companies, with the West Midlands (£35.9m), Swansea (£12.4m) and Strathclyde (£10.3m) investing the most, of those who declare their investments publicly. Clwyd, South Yorkshire, Avon, London Borough of Greenwich, Merseyside, Durham and Greater Gwent (Torfaen) are also in the top 10; with Essex investing the most in industrial soya production (£6.6m).
The fossil fuel divestment movement has been successful in removing investment from climate-damaging industries: 1,485 institutions globally representing over $39.2 trillion in assets have already committed to divest from fossil fuels, helping delegitimise these companies and pave the way for regulation.
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Published 20 Jan 2022
Climate change and nature: Sustain has taken a keen interest in the rapidly accumulating evidence about the effect of food and farming on climate change and nature, as scientific evidence emerges that our food system is a very significant contributor to greenhouse gas emissions and biodiversity loss.
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