The report “Beyond Profits: Global Review of the Financial Sector on Animal Welfare and Food Systems” developed by the international NGO Sinergia Animal in 80 financial institutions in 22 countries evaluates the conduct of banks using 21 criteria, including: financing practices with farm animals, wild animal trade, testing (medical and non-medical) and use of antibiotics.
Support for the transition to plant-based alternatives was also measured.
“Our world faces unprecedented challenges: The climate crisis, public health risks and increasing food insecurity demand immediate action from all sectors,” said Merel van der Mark, director of the Animal Welfare Program. and Animal Synergy Finance.
In Colombia, banks like Bancolombia obtained 10% of the points and Banco Agrario 2%.
International banks such as Triodos, from Volksbank, Australian Ethical, Rabobank and ABN Amro remain among the five banks evaluated with best practices.
The report mainly focuses on financial institutions from the Netherlands, Australia and the United Kingdom as leaders in policies related to animal welfare and sustainable food systems.
Likewise, it shows a significant gap in the implementation of these policies in banks in the United States, Asia and Latin America.
Likewise, although it shows that banks have positive aspects, some are lagging behind compared to other countries, pointing to the need for greater commitment and action in this area.
Therefore, the report invites financial institutions that are lagging behind to align themselves with international calls.
It is important to note that recently, the United Nations Assembly called for greater ambition in strengthening animal health and welfare, as factors that contribute to the Sustainable Development Goals.
Additionally, COP28 issued a declaration prioritizing resilient food systems and climate action.
The OECD updated its guidelines to include provisions on animal welfare, and the World Health Organization called for healthier, diversified, plant-based diets.
The report is a wake-up call to the financial sector to prioritize long-term sustainability, prioritize animal welfare and build more sustainable food systems, van der Mark said.
