Still too little attention for animal welfare amongst Dutch pension funds and insurers
Allianz, ABP, PfZW, and PME are doing too little to improve animal welfare in meat companies. This is evident from research by the Dutch Fair Finance Guide (Eerlijke Geldwijzer), conducted by Profundo. The financial institutions collectively invest $453 million in meat companies linked to serious animal welfare violations. None of the parties score higher than three out of ten points on animal welfare policies and their implementation.
The research analyzed the investments of pension funds and insurers in international meat giants such as Tyson Foods, WH Group, and JBS, whose parent company is based in Amstelveen. Allianz stands out as a major investor: the German insurer accounts for $321 million of the total amount.
Companies like JBS and Tyson Foods frequently face criticism for animal welfare violations. Animals are kept in mega-farms with concrete floors and limited daylight and without adequate space or access to the outdoors. There are often cruel slaughter methods and painful procedures such as tail and beak clipping, tooth filing, or dehorning without anesthesia. These meat giants do not comply with international BBFAW guidelines (Business Benchmark on Farm Animal Welfare) for animal welfare.
“Lack of policy is highly concerning”
The research shows that none of the four institutions report systematically on animal welfare, and robust monitoring is lacking. The absence of complaint mechanisms is also a problem: ABP, PfZW, and PME do not have systems allowing clients or other external stakeholders to submit complaints regarding investment decisions.
Julia Bakker, spokesperson for the Fair Finance Guide:
"It is positive that only a limited number of pension funds and insurers still invest in the livestock industry. But the fact that funding continues to flow to companies that violate basic animal welfare standards is very concerning. Financial institutions often argue that their investments can improve and influence company policies, but this research shows that such improvements do not happen in practice. It is crucial that institutions take responsibility and use their influence to reduce harm to animals, people, and nature, rather than exacerbate it."
Recommendations
The Dutch Fair Finance Guide calls on financial institutions to:
- Integrate animal welfare into their policies
- Set measurable goals to improve animal welfare in the supply chain
- Apply clear escalation steps toward companies that fail
- Report progress and results transparently
- Provide accessible complaint mechanisms
Policy changes
Since this research, PME and PfZW have reduced their investments in the mentioned meat companies. ABP has announced it will implement stricter animal welfare policies in the short term. Allianz did not cooperate with the survey.
