An investor group representing $6.5 trillion is telling the fast food industry to put its money into the fight against global warming.
The group, which calls itself the Farm Animal Investment Risk and Return (FAIRR) initiative, has sent letters to the world’s biggest fast food companies urging them to control their carbon footprint – or else expect a backlash from investors.
Their letter reads: “Livestock farming is responsible for 14.5% of global GHG emissions. On a commodity basis, beef and dairy cattle are responsible for a significant portion of total emissions, contributing 65% of the sector’s overall GHG outputs.”
According to FAIRR, these high emission levels are not only a threat to the environment, they also pose a threat to economic sustainability and subsequent company growth.
“Without a clear sustainability strategy and a more forward-looking approach, we believe [your company] will endanger not only its own supply security and financial growth, but also global food security,” they concluded.
The letter was sent to McDonald’s, KFC, Domino’s, Chipotle, Pizza Hut, Burger King, and other major food chains under their management. In addition to reducing carbon emissions, the letter demands that these same fast food companies monitor their water use and cut its polluting of water sources caused by excessive fertilization on adjacent land.
The companies have until March 2019 to present a tangible plan of action for the coming years. So far, over 80 investors have signed the letter, making it clear to the fast food giants that they can either comply or face the financial consequences. Learn more about FAIRR’s analysis of the issues facing the industry