Australian Ethical Investment has joined a coalition of 40 institutional investors engaging with 16 multinational food companies over concerns of material risks posed by industrial animal production.
The Farm Animal Investment Risk and Return (FAIRR) initiative has sent a letter to General Mills, Kraft Heinz, Mondelez International, Nestlé SA, Unilever, Ahold-Delhaize, The Co-operative Group, Costco Wholesale Corporation, Kroger Company, Marks & Spencer, Wm Morrison Supermarkets, Ocado, Sainsbury’s, Tesco, Walmart, and Whole Foods Market. The letter urges companies to “identify their plans to respond to this risk, in particular by encouraging them to set strategies to diversity into plant-based sources of protein.”
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