Major UK Banks Accused of Investing in Animal Cruelty
In a shocking report by World Animal Protection UK, Barclays, HSBC, Lloyds, Metro Bank, and Santander have all been implicated in investing in animal cruelty. The report, titled “Banking on Welfare,” examined the animal welfare policies of ten of the UK’s largest banks and found that these five banks make no mention of animal welfare in any of their policies.
Investing Customers’ Money in Animal Cruelty
The report, conducted by research specialists Profundo using the 2023 Fair Finance Guide Methodology (FFG), revealed that these banks are likely using their customers‘ money to fund activities such as factory farming, captive animal entertainment, and animal testing.
Top Banks for Animal Welfare
On the other hand, banks that scored higher for animal welfare include Triodos, Standard Chartered, The Co-operative bank, NatWest, and Virgin Money. While these banks do not have dedicated animal welfare policies, they do address animal welfare in other policy documents. Triodos, in particular, stands out for highlighting animal welfare in a greater number of policy documents than any other bank.
The Importance of Animal Welfare
According to a poll conducted by World Animal Protection, 3 in 5 UK consumers want all banks to have an animal welfare policy. The same number of people feel deceived that their bank may be investing their money in harmful activities like factory farming and deforestation. Additionally, nearly half of the respondents would switch banks to ensure their money is not used in investments that harm animals, and over half would prefer a lower interest rate over a bank that invests in animal cruelty.
Lindsay Duncan, World Animal Protection Farming Campaigns Manager, urges customers to take action: “By not having a dedicated animal welfare policy, these banks are likely to be investing their customers’ money into cruel practices such as industrial-scale factory farming. We are calling on customers to write to their bank urging them to put in place a dedicated animal welfare policy to stop them investing in animal cruelty.”
Globally, more than 80 billion animals are used for farming each year, with about 70% trapped in factory farms. The report highlights that 69 billion chickens are reared and killed for their meat annually, with over two-thirds raised in intensive indoor systems. Additionally, 1.5 billion pigs are subjected to intensive farming conditions that prevent them from expressing their natural behaviors.
If you want to take action, you can write to your bank and demand a dedicated animal welfare policy here. For more information, visit www.worldanimalprotection.org.uk.
Photo: Freepik.com
