Shocking Exposé: Global Banks Allegedly Support Chinese Drug Firms in Illegal Wildlife Trade
Top Chinese pharmaceutical companies, supported by global banks, exposed for employing endangered leopard and pangolin parts in their drugs, reveals environmental group's inquiry
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An environmental protection group has conducted an investigation revealing that three major Chinese pharmaceutical companies, supported by prominent global banks, are utilizing endangered animal parts in their medicines.
The Environmental Investigation Agency UK (EIA) reported on Monday that 72 companies authorized by China's drug regulator were discovered to be utilizing body parts from leopards and pangolins, two species at risk of extinction. Notably, three major traditional Chinese medicine (TCM) companies, Beijing Tong Ren Tang, Tianjin Pharmaceutical, and Jilin Aodong Medicine, are among them.
The EIA discovered a minimum of nine products from the firms that purportedly contain leopard and/or pangolin. The organization stated that some of the identified companies even sell products that include components of tigers and rhinos, contradicting China's official stance against the use of tiger bone and rhino horn in medicine.
"This usage, on an efficient industrial scale, inevitably drives these species towards the brink of extinction," commented Avinash Basker, a legal and policy specialist at EIA, in a separate statement.
CNN has contacted Tong Ren Tang, Tianjin Pharmaceutical, and Jilin Aodong for their response.
Jo Munnik
The world's most trafficked mammal, pangolins, are being cared for in this wildlife sanctuary.
In China, their brands enjoy immense popularity. Tong Ren Tang, established in 1669, stands out as one of China's most renowned brands. It prides itself on being the sole supplier of Chinese medicine to royal families for almost two centuries under the rule of eight emperors. Today, it has evolved into the largest producer of Traditional Chinese Medicine worldwide.
According to the report, the content highlights the substantial global presence of the entity in question, with a total of 62 banks and financial institutions, including Fortune 500 companies, investing in it. Notable shareholders mentioned include BlackRock (BLK), Citigroup (C), and HSBC (HSBC). While BlackRock and Citi chose not to provide comments, CNN's request for comment from HSBC remained unanswered.
The EIA is now urging these shareholders to divest their stakes.
Sunset, a bear in the Vietnam's northeastern Haiphong region that has been kept in years-long captivity for bile harvesting, is seen on the day of her rescue.
Nezahat Eve Sevim/Animals Asia
Basker expressed disappointment in the endorsement of this harmful exploitation by numerous prominent banks and financial institutions, especially considering their previous commitments to the contrary.
In the lucrative TCM sector, powdered leopard bones are utilized in adhesive bandages and tablets as a more cost-effective substitute for the pricier tiger bone, which is perceived to have efficacy in addressing arthritis and other joint conditions, as per animal rights organizations. According to the report released by the EIA, pangolin scales are reputed to aid in blood circulation, enhance human lactation, and alleviate symptoms of rheumatism.
In recent years, governments around the world have increased legal protections for some endangered animals, including in China.
A Thai customs official displaying one of 136 pangolins seized in Bangkok in 2017. Pangolins are the most illegally traded wild mammals on Earth, according to experts.
Sakchai Lalit/AP
In 2020, the Chinese government acknowledged the detrimental impact of "resource exhaustion" on pangolin species and consequently eliminated pangolin scales from its list of authorized ingredients in TCM.
Although conservation advocates welcomed this decision, they expressed doubts about its effectiveness in curbing illegal trafficking. According to the IUCN SSC Pangolin Specialist Group, a research organization, pangolins remain the most illicitly traded wild mammals on the planet, retaining their notorious distinction even after three years.
