Standard Chartered announces global cage and crate-free policy

UK-based Standard Chartered Bank, which operates in more than 70 countries, now only serves livestock clients using cage-free or crate-free production systems.The Bank no longer works directly with those converting or damaging valuable forests, peatlands, areas important for wildlife, or areas with legal protection. All producer-clients must follow the IFC Good Practice Note on Improving Animal Welfare in Livestock Operations, including the five freedoms of animal welfare. Clients are expected to “manage their environmental and social impacts responsibly.”

Responsible sourcing, sustainability certification for food-based products, animal feed and biofuels, and farming practices that preserve soil fertility and minimize GHGs and water use are among other requirements.