In partnership with the Farm Animal Investment Risk and Return Initiative, ShareAction and the Interfaith Center on Corporate Responsibility, Praxis Mutual Funds® and other investors are sending letters to companies with public-facing brands in the restaurant and fast food sectors, which are particularly exposed to financial risk associated with antibiotics overuse.
According to the U.S. Food and Drug Administration, 80 percent of all antibiotics used in the United States are given to farm animals. While the therapeutic use of antibiotics for sick individual animals can produce positive outcomes, the routine, supplemental use of antibiotics for all animals concerns scientists. The World Health Organization says this trend is contributing to an emerging global threat of a post-antibiotic era, where the medicine humans rely on becomes ineffective through overuse in food supply chains.
Praxis has participated in letters to McDonald’s and Yum! Brands, recognizing the progress the companies are making and encouraging them to implement timelines for phasing out routine antibiotic use. Shareholder dialogues with the companies are expected to follow.