Nordea, Swedbank, and Handelsbanken Cut Meat Industry Investments 89% Following Protests

Nordea, Swedbank, Handelsbanken, and Länsförsäkringar have reduced their investments in global meat companies by an average of 89 percent following customer protests over animal welfare. While major retail banks have divested from controversial entities like JBS, approximately $100 million remains invested through SEB, Danske Bank, and AP funds in companies with weak welfare standards. A report by Fair Finance Guide warns that 70 percent of these remaining investments are marketed as sustainable despite involving practices like tail docking without anesthesia.Jakob König from Fair Finance Guide emphasized that while consumer-oriented banks are listening to customer complaints, other institutions have increased their exposure to the meat sector. The report highlights a lack of regulatory oversight that allows financial products to be marketed as green without meeting rigorous animal welfare or environmental criteria. Most of the remaining capital is concentrated in large-scale pig and chicken producers operating in jurisdictions with minimal protections against animal cruelty.Brazilian meat giant JBS has been completely excluded from Swedish bank portfolios due to its history of poor animal treatment and its contribution to deforestation in the Amazon. However, the continued involvement of SEB and Danske Bank suggests a divide in how financial institutions approach ethical investment standards in the global food supply chain. Activists from World Animal Protection Sweden continue to push for tighter regulations to prevent banks from facilitating practices that would be illegal in Sweden.