World Bank’s funding of hog factory farms under fire over climate effect

Published 2024년 4월 7일

Tridge summary

The International Finance Corporation (IFC), a branch of the World Bank focusing on the private sector, faces criticism for its investments in large-scale industrial livestock operations, which are accused of exacerbating global heating and compromising animal welfare. Critics, including environmental and animal welfare organizations, are calling for the World Bank to halt its funding of such projects, pointing out the allocation of over $1.6 billion from 2017 to 2023. A particular point of contention is a $47.3 million loan granted by the IFC to a Chinese firm for building 'hog hotels', multistorey pig farms, which have sparked debate over their environmental and ethical impacts. Despite these criticisms, World Bank officials maintain that their agricultural financing policies are aligned with sustainable and eco-friendly practices.

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Original content

The private sector arm of the World Bank is facing claims that it contributes to global heating and the undermining of animal welfare by providing financial support for factory farming, including the building of pig farming tower blocks in China. A coalition of environmental and animal welfare groups is calling on the World Bank to phase out financial support for large-scale “industrial” livestock operations. More than $1.6bn was provided for industrial farming projects between 2017 and 2023, according to an analysis by campaigners. The International Finance Corporation (IFC), part of the World Bank Group, is owned by 186 member countries including the UK, which has a 4.5% shareholding. Andrew Mitchell, the minister for development, is a governor of the IFC. Kelly McNamara, a senior research and policy analyst at Friends of the Earth US, said there was a “mismatch” between the World Bank’s commitments on the climate crisis, sustainable development and animal welfare, and its ...

Source: TheGuardian