Member AUM
$70 trillion
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Antibiotics Statement

Demonstrating Investor Support for Antibiotics Stewardship Policies
Total AUM:
$3 trillion

Statement Overview

The rate of antibiotic resistance has risen to dangerously high levels in all parts of the world, and this threat is continuing at pace.

In 2017, scientists found that a gene allowing resistant bacteria to move from animals to humans had spread to over 30 countries; while in the US a superbug, which is resistant to all 26 available antibiotics, was reported to have killed a woman in Nevada. These are just a few examples of the emergence of antimicrobial resistance (AMR), estimated to be responsible for 700,000 deaths around the world each year. This is a trend that the US Centers for Disease Control and Prevention (CDC) considers one of the world’s “most serious health threats”.

Political attention to this issue is escalating. UK Chief Medical Officer, Sally Davies, has warned that we may face the ‘end of modern medicine’ if we fail to overcome the AMR challenge. Through industry press, former Belgian PM, Mark Eyskens, has urged the European Union to take more decisive action to prevent a global health crisis. Following this, international governments, the United Nations and multi-lateral institutions met in Berlin in October 2017 to identify gaps in tackling the development and spread of AMR, and to commit to a concerted and tangible actionplan.

We believe that companies and investors have a key role to play in driving progress forward on this crucial issue. With this statement, we aim to demonstrate investor support for antibiotics stewardship policies while helping companies to use antibiotics in a safer way.


Investor Statement

We, the undersigned investors, recognise the routine non-therapeutic use of antibiotics in livestock production as a major risk to public health.

Worldwide, most antibiotics are used in farm animal production systems, often to promote growth and to prevent the spread of disease among animals housed in unsanitary conditions and in close confinement. In the US, an estimated 75% of antibiotics are being used on farm animals [1], 70% in the European Union (EU), and 45% in the UK [2]. This overuse of antibiotics in livestock production is recognised by the World Health Organisation as an important factor in the emergence of antimicrobial resistance (AMR) worldwide [3].

The global regulatory landscape is moving to phase out the routine non-therapeutic use, and consumers, civil society organisations and the media are increasingly scrutinising corporate practice on this issue. Companies that fail to act are likely to face significant impacts on their reputation and brand, threatening sales and profits [4].

Not only does AMR present a material risk for food companies, but it is also a systemic risk across multiple sectors, including the pharmaceutical, healthcare and insurance industries. Immediate action is required to preserve the efficacy of antibiotics against diseases in both humans and animals. We, therefore, view reform of the non-therapeutic use of antibiotics in livestock production as both necessary for public health, and essential for risk mitigation and long-term value creation. We also consider it material when evaluating a company’s prospects in line with our portfolios.

Thus, we support the establishment of a comprehensive antibiotics policy that includes clear timelines for phasing out routine, non-therapeutic use of antibiotics across all livestock, seafood and poultry supply chains. We enclose a best practice policy on antibiotics stewardship, which has been developed in consultation with leading industry and issue experts to provide guidance to food companies, including both meat producers and purchasers (such as retailers and restaurants), in the development of their individual policies.

This investor statement is coordinated by the FAIRR Initiative.

Investor Signatories

This statement is currently supported by 75 investor signatories collectively managing over $3 trillion of assets.

Aviva Investors

Interfaith Center on Corporate Responsibility

Ostrum Asset Management

Aegon Asset Management

BMO Global Asset Management


Resona Bank, Ltd.

Bank J. Safra Sarasin

Achmea Investment Management

CANDRIAM Investors Group

University of California, Office of the CIO of the Regents



Kempen Capital Management

Fidante Partners

Raiffeisen Capital Management


Hermes Investment Management

Strathclyde Pension Fund

Addenda Capital

Coller Capital

Calvert Research and Management


Impax Asset Management

Trilogy Global Advisors

Dana Investment Advisors

NEI Investments


Triodos Investment Management

Walden Asset Management

EdenTree Investment Management

Solaris Investment Management

Trillium Asset Management

Boston Common Asset Management

Central Finance Board Methodist Church and Epworth Investment Management

Domini Impact Investments LLC

Australian Ethical

The Sustainability Group of Loring, Wolcott & Coolidge

Bridges Fund Management

UFCW Pension Plan for Employees

Everence and the Praxis Mutual Funds

Christian Super

Castlefield Partners

Church of Sweden

Middletown Works Health Care VEBA

Zevin Asset Management

Azzad Asset Management

Green Century Capital Management

Friends Fiduciary Corporation

Sophia School Corporation

Sonen Capital

Southern Pastures

WHEB Asset Management

Sisters of St. Francis of Philadelphia

Mennonite Education Agency

Civic Capital Group, LLC

Quantum Financial Planning LLC

EBG Investment Solutions AG

Cruelty Free Super

JMG Foundation

Trinity Health Inc.

The LankellyChase Foundation

As You Sow

Shareholder Association for Research and Education

Starboard Wealth Planners

Miller Howard Investments, Inc.

JLens Investor Network

Northwest Coalition for Responsible Investment

Dalhousie University

Confrapar administração de recursos s/a

Seventh Generation Interfaith Inc.

Congregation of St. Basil

Evangelische Bank eG

Socially Responsible Investment Coalition