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In recent months, rumors have circulated that a possible meat tax could be looming on the horizon. Now, a major report could have confirmed it.
The report was released by the Farm Animal Investment Risk and Return (FAIRR), which is an initiative that informs investors of possible risks/opportunities in the market. In this recent report, they explain the case for such measures. Many believe that such a tax would address the harmful impact of meat on human health and the environment.
Of course, they aren’t the first to bring this issue to the table, as other recent headlines have made the same case. As it stands, there is no pending legislation of this sort in the U.S, however, the report indicates that they believe it is ‘increasingly probable,’ that we would see such measures in the future.
If so, meat would meet (no pun intended) the same fate as tobacco, carbon, and sugar, which are currently taxed in 180, 60 and 25 jurisdictions around the world.
The report further claims that greenhouse gas emissions from livestock are about 14.5 percent of the world’s total. “Investors are starting to consider this in a similar way to how they have considered climate risk,” said Rosie Wardle, who manages investor engagements at FAIRR. “It’s kind of accepted now that we need to address livestock production and consumption to meet that 2-degree global warming limit.”
With such legislation already in place, many countries have begun to change their food pyramids to fit a different spectrum of balance in the foods that we eat.
However, significant research has not been conducted to support that such legislation could actually change/help anything. So, it begs to reason that taxing meat could actually do anything. Of course, while it isn’t currently pending in the states, we can only hope for some sort of supporting evidence to back an increase in taxes. What do you think?