Citigroup, Bank of America, and JPMorgan Chase face growing investor demand for stronger animal welfare oversight
Animal welfare is quickly emerging as a critical issue in the financial sector, as shareholder activism continues to shine a light on the role of major banks in financing factory farming. During the 2023, 2024, and 2025 annual general meeting (AGM) seasons, shareholders of Citigroup, Bank of America, and JPMorgan Chase submitted resolutions urging the banks to report on how their Boards of Directors oversee risks associated with animal welfare.
These resolutions, though not passed, received unprecedented support, signalling a growing awareness among investors of the financial, reputational, health, and environmental risks linked to animal cruelty in industrial farming systems.
A Landmark Shift in Finance and Animal Welfare
In 2023, Harrington Investments, Inc. (HII) filed what is believed to be the first-ever shareholder resolution at a major US bank addressing animal welfare. Submitted to JPMorgan Chase, the proposal called for revisions to the Public Responsibility Committee Charter to include oversight of animal welfare risks. While it received just 3% support, it marked the beginning of a trend that gained traction in 2024.
The following year, HII submitted a similar resolution at Citigroup, referencing Sinergia Animal’s Banks for Animals scorecard, which gave Citigroup the lowest possible score of zero. This powerful data-driven advocacy highlighted that some financial institutions can reduce animal cruelty through better screening and policies. The resolution garnered 6.5% support, clearing the 5% threshold needed for resubmission in 2025.
In 2025, animal welfare resolutions were filed again at both Citigroup and Bank of America. Although the vote shares were modest, 5.4% at Citigroup and 6% at Bank of America, the numbers were high enough for a first-time proposal to be refiled next year at Bank of America. Unfortunately, Citigroup’s vote share did not meet the 15% threshold required for a second submission.
Animal Welfare Outperforms Other Key Issues
Despite facing the headwinds of a challenging political climate, including an intensifying “ESG backlash” and regulatory threats from anti-ESG legislators, animal welfare resolutions held their ground.
At Citigroup’s 2025 AGM, the animal welfare resolution received more support than a climate change proposal. In 2024, it also outperformed shareholder resolutions on diversity, equity, and inclusion (DEI) and politically motivated de-banking. Similarly, at Bank of America, the animal welfare resolution beat out proposals on board nominations, and at JPMorgan Chase in 2023, it outperformed a resolution on civil liberties.
Why This Matters: Financial Risk, Climate, and Animal Cruelty
Major financial institutions like Bank of America, Citigroup, and JPMorgan Chase are among the largest backers of the industrial meat and dairy industries, sectors notorious for systemic animal cruelty, deforestation, pollution, and contributions to climate change.
These banks have pushed back against the shareholder resolutions, claiming their existing policies already cover animal welfare concerns. However, Sinergia Animal’s annual assessments of bank policies reveal the opposite: none of these institutions have meaningful animal welfare policies in place.
Factory farming is not just an ethical disaster—it’s a ticking time bomb of financial, environmental, and health risks. From zoonotic diseases to biodiversity loss and greenhouse gas emissions, the evidence is clear: financing industrial animal agriculture is incompatible with long-term sustainability goals.
The Way Forward: Responsible Finance Must Include Animal Welfare
The science is unambiguous: transitioning to sustainable, plant-based, and animal-friendly food systems is crucial to meeting the UN Sustainable Development Goals. It’s time for financial institutions to step up.
Sinergia Animal calls on Citigroup, Bank of America, and JPMorgan Chase to adopt science-based, long-term strategies that move capital away from factory farming and toward sustainable alternatives. Strengthening animal welfare policies is not just better for animals; it’s a sound investment in the planet’s future.
Read more about the resolutions here.
About Sinergia Animal
Sinergia Animal is an international animal protection organization working in Global South countries to reduce farm animal suffering and promote more compassionate diets. We have been recognized as one of the most effective animal protection NGOs in the world by Animal Charity Evaluators (ACE).