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Investor pressure group urges G20 to align agricultural subsidies with environment

News report image showing a combine harvester in an arable field

A group of 32 investors managing $7.3 trillion in assets issued their first ever call to the countries' finance chiefs ahead of a G20 summit, urging the group of wealthier countries to align agricultural subsidies with their climate and nature goals by the end of the decade.

A United Nations report stated that around 87% of the $540 billion in total annual subsidies to agricultural producers included measures that were price distorting and potentially harmful to nature and human health. The group, which includes Britain's biggest asset manager Legal & General Investment Managers and the fund arm of BNP Paribas, called for governments to shift incentives to focus on sustainable agriculture; remove subsidies from products with a high impact on climate-damaging emissions, such as dairy or red meat; and increase funding to help workers impacted by the switch.

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