Are Banks Responsible for Animal Welfare and Climate Disruption? A Critical Review of Australian Banks’ Due Diligence Policies for Agribusiness Lending

Dados Bibliográficos

ID16898232
AutoresC Parker (0000-0003-1870-5706, The University of Melbourne), Lucinda Sheedy-Reinhard (The University of Melbourne)
Ano2022
Volume11
Fascículo3
Páginas603-628
Data de publicação2022-11-01
Peer ReviewedSim
Open AccessSim
TipoARTICLE
PeriódicoTransnational Environmental Law (JOURNAL)
Identificadores do periódicoISSN: 2047-1025 • E-ISSN: 2047-1033
EditoraCambridge University Press (CUP) (PUBLISHER)
DOI10.1017/s204710252200022x
OpenAlexW4293224669
IdiomaEN
Citações recebidas3
Referências citadas11

This article argues that banks should adopt animal welfare policies in the light of the growing acceptance of the need for ‘responsible banking’, which incorporates environmental, social, and governance analysis into credit risk and due diligence processes. The responsibility of banks for animal welfare is underscored by the drive towards greater investment in animal agribusiness, and the vicious cycle through which animal agribusiness can both contribute to, and be impacted by, climate disruption. The article evaluates, through a desktop review, how leading Australian retail banks and agribusiness lenders are addressing animal welfare and climate disruption in animal agribusiness lending. We find that although most banks have made a commitment to animal welfare and climate policies, these often amount to little more than greenwashing. We call for an ecosystem of industry, regulatory, and civil society action to address this danger

Agribusiness · Agriculture · Animal welfare · Business · Due diligence · Economics · Market economy · Welfare · Corporate Social Responsibility Reporting · Environmental Sustainability in Business · Finance