Animal welfare is an increasingly important CSR issue and it’s just moved even more to the center of the corporate conversation on the topic. 18 institutional investors, who represent £1.5 trillion in assets under management, have become the founding signatories to the first investor statement on farm animal welfare.
The signatories of the Business Benchmark on Farm Animal Welfare (BBFAW) say farm animal welfare is potentially material to long-term investment value creation in the food sector. The commitment will look into farm animal welfare issues when analysing food companies. The signatories will also encourage high standards across the food industry.
They also point to the BBFAW as a framework that can be used by companies and by investors to guide their work on farm animal welfare.
In a statement, the investors highlight that “farm animal welfare is an important issue for companies and suppliers across the food sector, including those in the retail, food processing, food service and hospitality sectors.”
They mention food scares, high profile undercover investigations of animal cruelty, and health risks linked to food safety that have prompted companies to be more diligent about food provenance, traceability and quality, as well as more transparent on the management of their supply chains.
“This is the first time that institutional investors have supported a formal public statement on farm animal welfare. It is a clear sign that we farm animal welfare is transitioning from being seen as a niche ethical issue to one that is recognised as an important source of business risk and of opportunity”, says BBFAW program director Nicky Amos.
The BBFAW is an initiative led by Compassion In World Farming, World Animal Protection and Coller Capital. Follow the link for a full list of the signatories.
Image credit: Animals Australia