"A new analysis shows that billions went to industrial livestock and grain companies, including a $200 million loan to a firm producing corn and soy in the heavily deforested Cerrado region of Brazil."
"The world’s biggest development banks have agreed that they will funnel their financial support to businesses that promise to reduce greenhouse gas emissions.
But a new analysis published Wednesday by animal and environmental advocacy groups says those banks have given billions to big livestock and grain companies expanding greenhouse gas-intensive agricultural systems.
The report, researched and written for the Stop Financing Factory Farming campaign, finds that the world’s top development banks—those that support private-sector projects in developing countries—invested $4.6 billion between 2010 and 2021 in agriculture, with much of it flowing to big corporations, including Smithfield, Danone and grain giant Louis Dreyfus."
Georgina Gustin reports for Inside Climate News June 21, 2023.
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