Project 1882 calls on the World Bank to re-evaluate funding for animal factories
In an open letter addressed to World Bank President Ajay Banga, Project 1882 appeals to the World Bank to reconsider its financing of factory farms. Project 1882 sees Ajay Banga’s commitment to tackling the climate crisis as an opportunity to make a real difference for animals, humans and the climate.
Together with UN agencies, the World Bank works to provide financial support and advice to countries in the Global South to reduce global poverty. When Ajay Banga took over as president of the World Bank Group in May 2023, his goal was to steer the organization towards a more sustainable future. Project 1882 welcomed the World Bank’s updated objectives, which included a commitment to combat climate change. This was a step in the right direction, but more action is needed.
Project 1882 is particularly concerned about the International Finance Corporation’s (IFC) support of industrial livestock farming and animal feed production. Between 2017 and 2023, the IFC invested 3.5 billion dollars into the expansion of these activities. The negative impacts of large-scale factory farms are numerous and severe, according to Project 1882. They include biodiversity loss, climate change, food insecurity, price increases, disease and pandemic risks, and animal cruelty.
– The World Bank can no longer turn a blind eye to the consequences of factory farms and needs to do its part to create a sustainable and fair food system, says Benny Andersson, CEO of Project 1882.
Project 1882 wants the World Bank to recognize its updated mission and adjust its investments in the food sector accordingly. It is about time that we acknowledged factory farms as one of the primary contributors to climate change and the loss of biodiversity. We must redirect our support towards food and farming systems that prioritize biodiversity and protect the animals that are the most exploited and suffer the worst.
Project 1882 wants the World Bank to:
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Publicly recognize the negative impact of factory farms on the climate and biodiversity and reassess the World Bank Group’s support in favor of more sustainable food and agriculture systems
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Discontinue IFC's support for large-scale factory farms and animal feed production
Project 1882 calls on Ajay Banga and the World Bank to read the open letter and act accordingly. It is time for the World Bank Group to take the lead and invest in a more sustainable future.
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