Florida’s Chief Financial Officer (CFO) Jimmy Patronis issued a stern warning last week to U.S. financial institutions, urging them to reject pressure from activist groups aiming to “de-bank” the meat and dairy industries. The activists, part of a coalition of over 100 organizations, are targeting major U.S. banks to cut off financial services to businesses involved in livestock, animal feed production, and dairy operations, claiming that doing so will combat climate change.
In his official letter addressed to JPMorgan Chase CEO Jamie Dimon, with copies to Citigroup’s Jane Fraser and Bank of America’s Brian Moynihan, Patronis emphasized that Florida will not tolerate any form of financial discrimination against its vital agricultural industries. He stressed that such efforts not only threaten jobs and economic stability but also jeopardize Floridians’ access to essential food products.
The activist campaign, spearheaded by groups like “Friends of Earth,” has demanded that banks halt financing for meat, dairy, and animal feed businesses. They aim to impose stringent “social and environmental” restrictions on financial services and submit to oversight by the United Nations. The CFO’s letter describes this as a radical and harmful effort to impose policies that would be rejected by voters.