Appeal: Protect Threatened Species
Help us stop firms investing in extinction
Help us stop firms investing in extinction
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We have found that a number of big pharmaceutical companies in the traditional Chinese medicine industry are selling products containing leopard bone and pangolin scales.
Over the course of two years, we discovered 88 traditional Chinese medicine products containing leopard and pangolin on sale online. Astonishingly, we also found products that contained tiger and rhino horn, despite claims from the Chinese Government that this is prohibited.
Finding these products officially on the manufacturers’ websites was quite startling. We were under the impression that the Chinese Government’s policies didn’t allow this.
Leopard
Leopards are vulnerable to extinction. Asian leopards have disappeared from 85 per cent of their range.
Pangolin
Pangolin populations are in decline globally.
Tiger
Tigers are now extinct in Cambodia, Laos and Vietnam, and are perilously close to extinction in China.
Rhino
Rhinos are being poached almost to extinction, largely for their horns.
Our research also revealed 62 international investors with shares in these traditional Chinese medicine manufacturers.
These investors are banks, insurance companies, pension funds and asset managers based in Australia, Canada, the EU, Japan, Switzerland, the UK and the US.
Many are Fortune 500 companies and household names. They include AXA, Citigroup, Deutsche Bank, HSBC, Legal & General, Prudential, Royal Bank of Canada, and Goldman Sachs.
©Kristoffer Trolle via Wikimedia Commons
It’s extremely disappointing to think that well-known financial organisations are profiting from the use of threatened species.
With your help, we’re putting pressure on these companies to stop funding extinction. If enough investors turn their backs on pharmaceutical companies that use threatened wildlife, it could persuade manufacturers to switch to sustainable plant-based alternatives.
Most traditional Chinese medicine doesn’t include wildlife, and the products we found account for just a small proportion of the overall output of these companies. A shift in priorities could make a massive difference to the future survival of leopards, pangolins, tigers and rhinos.
If investors are thinking of moving funds out of big pharma in China, they can look to Norway as an example. In September 2021, Norges Bank – the central bank of the Norwegian Government – excluded four traditional Chinese medicine firms from the Norwegian Government Pension Fund Global because they were using threatened wildlife.
The reason? There was an “unacceptable risk that companies contribute to serious environmental damage”.
Two EIA reports – ‘A Bitter Pill to Swallow’ and ‘Smoke and Mirrors’ – were instrumental in alerting the Norwegian Government to the potential risks of investing in traditional Chinese medicine companies.
Norway has set a trailblazing precedent. We hope that other countries will follow their lead.
Thanks to your support, we have uncovered the Chinese pharmaceutical companies that are flouting international law and the firms that are investing in extinction.
If you are able to make a donation today, your gift could help turn the tide on the use of threatened species in traditional Chinese medicine.
By donating today, you could help us to:
Please donate today to help us protect endangered wildlife. Any donation you’re able to give could be doubled, doing even more to help save threatened species and preserve threatened ecosystems and habitats. On behalf of everyone at EIA, thank you.