Following up on my earlier post on new banking opportunities, my good friend Susan was immediately in touch to provide helpful warnings on emerging meat substitutes. As bankers look at financing these opportunities for lower carbon footprint meats, it is critical to look at all aspects of the production process to be sure that we are not reducing a carbon footprint at the cost of creating other environmental challenges.
Specifically Susan linked me to an article highlighting the potential for high levels of glyphosate in the “burgers” now being sold as meat substitutes. As bankers look for new opportunities, a review of potential negative impact needs to occur so that decisions can be taken on the basis of full due diligence. A holistic and detailed approach is needed if we want to be sure that banks do not finance activities with meaningful negative consequences.
At the same time bankers should be looking for new opportunities and lower carbon footprint food production should be one. Vox in August 2019 provided a very helpful guide to these efforts in meat substitutes. Yet another example of the importance of looking for information from a variety of sources.
