Investors call for urgent steps to tackle antimicrobial resistance amid rising concerns
14 May 2024 --- The Investor Action on Antimicrobial Resistance (IAAMR) initiative is calling on global leaders to combat antimicrobial resistance (AMR) by unveiling seven recommendations to address the global systemic risk of the AMR crisis on human health, economic stability and investment portfolios. This comes ahead of the UN General Assembly’s meeting on antimicrobial resistance (AMR) in September.
AMR is recognized as a “leading threat” to global human health, claiming 1.27 million lives in 2019, a number projected to rise to ten million annually by 2050.
Rampant misuse and overuse of antimicrobial drugs in humans and animals is further leading to the emergence of new drug-resistant bacteria, viruses, fungi and parasites. This makes AMR a “systemic risk” akin to COVID-19 and the 2008 financial crisis, notes the IAAMR.
“Today’s statement includes seven critical requests for tackling AMR encompassing science-based guidance and targets, effective stewardship and a ‘One Health’ approach, integrated surveillance of drug usage, funding for research and development projects on new antimicrobials and alternatives, and ensuring equitable global access,” says the IAAMR.
"The statement is open for all investors and asset owners to sign on until 22nd July 2024."
The FAO has also raised concerns over antimicrobial use on farms and launched a country-focused initiative last month to combat AMR's impact on the food and agriculture sector.
The seven requests
IAAMR makes recommendations for global policymakers to support the establishment of an independent panel, modeled on the International Panel on Climate Change (IPCC), to provide policymakers with regular scientific assessments on AMR.
The IAAMR encourages R&D on developing alternatives to antimicrobials.It also wants stakeholders to support the development of an international framework, such as the Montreal Protocol or the Paris Agreement, for AMR with a science-based target to guide sustained and cohesive action on AMR.
IAAMR also wants to see further reductions in the use of antibiotics in agriculture and end the routine use of antibiotics for growth promotion and group prophylaxis in animal farming.
Crucially, it also calls for legislative initiatives to set maximum residue limits for antibiotics in wastewater from manufacturing facilities.
Global policymakers are encouraged to promote research and development of new antimicrobials and alternatives to antimicrobials target priority pathogens as defined by WHO.
Investor concerns
The IAAMR flags that the global economic costs associated with AMR are set to reach US$100 trillion, leading to a 3.8% decrease in global GDP by 2050. This has alarmed the investor community, which is increasingly concerned about the negative impact AMR will have on global financial markets, economic stability and long-term value generation.
“Awareness among policymakers regarding the threat posed by AMR is growing, evidenced by the UK government's announcement of its new national action plan to protect people and animals from drug-resistant infections.”
The plan targets the reduction of antibiotic usage and drives further advancements in drug and vaccine development.
However, investors are calling for an “international framework” to ensure sustained and cohesive action to combat the AMR crisis.
Earlier initiatives to combat AMR include FAIRR calling upon fast food chains to disclose their antibiotic use.Some efforts to combat AMR in the protein supply chain include FAIRR Initiative’s global request to 12 major fast food chains last year to disclose their antibiotic use and reduction policies to tackle antimicrobial AMR and the use of AI by scientists for AMR surveillance in livestock in China.
Calling for coordinated effort
The IAAMR was founded by the Access to Medicine Foundation, the US$70 trillion backed FAIRR investor network and the UK Department of Health and Social Care.
“We urgently need a coordinated effort from investors, corporates, and policy makers to tackle the underlying drivers of AMR using a ‘One Health’ approach,” says Dr. Emma Berntman, senior engagement specialist at the FAIRR Initiative.
“Drawing on a deep understanding of the interconnections between food systems, health, and the environment, investors recognise that AMR is an unmanaged global systemic risk. Now, they are calling for change to safeguard the efficacy of antibiotics for future generations, as well as ensure the resilience of investment portfolios.”
Last week, the Cargill-led Transform project brought together key stakeholders in the poultry industry to support Antimicrobial Use Stewardship Principles, encompassing over 40% of global poultry meat production. The sign-ups include US multinational fast food corporation Yum! Brands and various European poultry associations.
By Insha Naureen
