As part of the AMR Multi-Stakeholder Partnership Platform monthly updates, we feature perspectives from experts on critical issues, progress, advancements, and key initiatives in our joint efforts against antimicrobial resistance (AMR).
For this month’s interview, we spoke with Dr. Emma Berntman, Head of AMR Programmes at the FAIRR Initiative. She shared insights on why AMR matters to the financial sector, how investors can drive responsible antimicrobial use in agriculture, and how investment strategies can support the implementation of the 2024 UNGA Political Declaration on AMR.
Why is addressing AMR important for investors and the financial market? How does FAIRR assess the financial risks AMR poses to investors, particularly in sectors like agriculture and healthcare, and what strategies do you recommend for mitigating these risks?
Investors increasingly recognised AMR as a systemic risk with the potential to financially impact multiple sectors, not just healthcare and pharmaceuticals, but also food, agriculture, insurance, and tourism. It has been estimated that almost 10% of global equity markets are exposed to AMR-related risks and that if no action is taken to curb AMR, this could result in a 3.8% decline in global GDP by 2050, which will impact the value of diversified investment portfolios held by many investors such as pension providers.
73% of antibiotics sold globally are used for food-producing animals, making this a key sector for addressing inappropriate use. As regulations governing the use of antibiotics in animal agriculture vary globally, companies across all stages of the animal protein value chain are encouraged to implement responsible antibiotic stewardship practices to safeguard the continued efficacy of antibiotics and mitigate the financial risks posed by AMR.
Since its inception, FAIRR has taken a holistic approach to AMR, focusing on investor awareness raising and education, corporate engagements and disclosure assessments, and AMR policy work. FAIRR assesses the antibiotic policies and practices of 60 animal protein producers, animal pharmaceutical and fast food companies, considering both the degree of antibiotic policy alignment with globally recognized guidelines from the WHO and the evidence of their implementation.
FAIRR is also one of the founding partners of the multistakeholder initiative Investor Action on AMR (IAAMR). Ahead of the UNGA high-level meeting on AMR, the initiative developed an investor statement with seven key asks addressed to global policymakers, which was endorsed by 86 investors representing $13 trillion in assets. In 2024, the initiative received the City AM Dragon Award for Industry Association of the Year in recognition of its work on AMR within the financial sector.
What role can investors play in promoting responsible antimicrobial use in animal health and agriculture? How can investment strategies be aligned with AMR mitigation goals and the commitments outlined in the UNGA political declaration?
Investors have an important role to play in encouraging more responsible antimicrobial use in animal health and agriculture. Recognising this, FAIRR harnesses the power of capital on behest of our investor members to reduce the risk of AMR. Through stewardship, capital allocation and engagement, investors can encourage companies to strengthen antibiotic policies, phase out inappropriate routine use of medically important antimicrobials, and improve transparency. These actions align with the 2024 Political Declaration on AMR, which calls for a meaningful reduction in antimicrobial use in agri-food systems by 2030 (Article 56) and emphasises a One Health approach to AMR that fosters cooperation between human health, animal health and the environment (Article 36).
Investment strategies can contribute to AMR mitigation goals by incorporating AMR-related risks and opportunities into financial analysis, supporting innovation in alternatives, such as vaccines and diagnostics, and reinforcing the importance of robust data collection and disclosure. While regulatory action and public policy remain central, responsible investor engagement can complement these efforts and support the transition to more sustainable and resilient food systems.