Switch to delicious plant-based meat to protect the environment and reduce carbon emissions.
In recent years, more and more meat lovers are willing to change their diets and try plantbased meat. Reasons behind such shifts include health issues and the public pressure to the issue of reducing carbon emissions, protecting the environment, and being animal-friendly. More importantly, the technology used to manufacture plant-based meats has improved as well: meat alternatives available now are as tasty as natural meats.
Through genetic engineering, the company developed plant-based hemoglobin which gives the meat substitute the bloodiness and color similar to natural meat to cater to meat lovers. Although countries do not have net-zero sustainability policies concerning meat products at the moment, in 2020 the EU did initiate discussions on whether to tax all meat products with an additional “meat tax” in EU countries. The idea is to include environmental costs in the price of meat products to discourage meat consumption. During the 2021 COP 26 summit, many countries announced that they plan to impose a VAT on meat and dairy products, making artificial meat once more a hot topic.
Case study company introduction
Established in California in 2011, Impossible Foods aims to cease manufacturing food from animal meats and transform the global structure of the food industry into a truly sustainable system. The company rolled out its first product in 2016 - a nutritious and delicious plant-based beef product. In November 2021, Impossible Foods obtained USD 500 million in financing. The amount increased the company's total capital to over USD 2 billion which was the highest among all food companies that year.