Asset managers campaign to limit use of antibiotics
Attracta Mooney. The Financial Times, March 18 2017.
Seventeen large investors have joined a $2tn coalition of asset managers campaigning to limit antibiotics in food supply chains over fears the overuse of these drugs damages human health and hurts financial returns.
The coalition was launched last year to pressure the world’s largest food companies, including McDonald’s and Domino’s Pizza, to reduce excessive use of antibiotics in their poultry and meat supply chains.
Aegon Asset Management, the €332bn investment arm of the Dutch insurer, and Candriam, the Franco-Belgian fund house with €100bn in assets, are among the big investors to have joined the initiative, helping to double the assets under management collectively overseen by the group.
The coalition, which now comprises 71 investors, has gained support following warnings from the World Health Organization that irresponsible use of the vital medicines is leading to a “post-antibiotic era”, where humans could die from common infections and minor injuries.
Access the full article here.