Friends of the Earth Accuses Major U.S. Banks of Financing Climate Change Through Industrial Livestock Lending

Environmental group Friends of the Earth has accused U.S. banks of contributing to climate change by lending billions of dollars to the industrial livestock industry, a significant source of methane emissions. The three major lenders, Bank of America, Citigroup and JPMorgan Chase, account for over half of the $134 billion in lending tied to meat, dairy and other related corporations. The group called for the banks to halt new lending that leads to expansion of industrial livestock operations and require clients to report greenhouse gas targets and related action plans to reduce emissions.