Cease Financing Industrial Livestock Farming

5th Mar 24 by Vera Hoveling

The recent report by Feedback EU sheds a stark light on the role of Dutch bank in financing industrial livestock farming.

Dutch Banks: Cease Financing Industrial Livestock Farming

 A call for change: the impact of industrial livestock farming

In a world grappling with the consequences of climate change, deforestation, and human rights violations, industrial livestock farming takes center stage. Often overlooked as a driver of these issues, their continued expansion is incompatible with the urgent need to protect our planet and ensure the well-being of future generations.

The role of Dutch banks in this story

The recent report by Feedback EU, ‘Climate Impact of Big Money’, sheds a stark light on the role of Dutch banks, such as ING, ABN Amro, and Rabobank, in financing these harmful practices. These banks have invested substantial sums of money in industrial livestock farming.

ING and Rabobank both rank in the top ten largest financiers of the sector globally. They provided business loans and revolving credit, and guaranteed bond issuances. ING with $15.6 billion in credits, Rabobank with $15.4 billion. This cannot be ignored any longer.

Local consequences and the responsibility of banks

The impact of this financing extends not only globally but also to our own backyard. In the Netherlands, the expansion of mega-farms has led to the bankruptcy of small-scale farmers and serious environmental issues. We must acknowledge that these problems concern us all and that it is time to take action. It starts with no longer funneling billions into the agribusiness.

“The continuous financing of mass production of meat and dairy by Dutch banks undermines crucial efforts in climate, biodiversity, deforestation, human rights, and corruption,” says Frank Mechielsen, Director of Feedback EU. “It is time for change. Banks must stop financing industrial livestock farming, and they must do so now.”

Towards a sustainable future: A Call to Action

These findings compel us to act. It is time for Dutch banks to cease their financing of industrial livestock farming. It is time for governments to impose stricter regulations and revise subsidies. It is time for change, and it begins today.

Read the full report by Feedback EU here.


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