Public development banks are directly undermining UN and Paris climate goals by channeling billions of taxpayer dollars into multinational meat corporations
As the climate crisis boils over, new research shows that reducing methane emissions is our best hope to rapidly stem the crisis. It’s time to turn up the heat on the industrial meat industry and dramatically curtail its climate harm, which includes 32% of global methane emissions. Yet instead development banks are using public funds to expand this sector that generates 16.5% of total greenhouse gas emissions (GHGs).
On 19 and 20 October, hundreds of public development banks (PDBs) will gather for the second Finance in Common Summit to make pledges to advance Paris climate and UN sustainable development goals (SDGs). The summit – which will also focus on agriculture and agribusiness transformation – presents a vital opportunity for these banks to put their money where their mouth is and align their agriculture investments to meet these goals.