FAIRR’s top news picks
Another Iraq Drought Highlights Climate Change’s Threat to Food
Bloomberg | 25 October 2021
Extreme weather caused by climate change is threatening food security around the world as Iraq is forced to cut its crop area in half due to a severe drought. With Turkey, Syria and Iran also affected, countries don’t have enough water reserves and will have to consider securing extra supplies of food. While countries around the globe continue to experience the adverse effects of climate change, a new UN report released this week finds that emissions need to be cut seven times faster than currently outlined in order to meet targets.
What’s the beef with cows and the climate crisis?
The Guardian | 27 October 2021
With livestock producing about 14,5% of human-induced climate emissions, the UN wants a shift away from outsized meat and dairy industries. Yet, meat production continues to rise. Countries are failing to establish viable targets to reduce livestock-related emissions or meat consumption. Even the methane pledge signed by the US and EU earlier this month doesn’t outline specific commitments for the farming sector, neglecting its contribution to worldwide emissions. At the same time, countries like Australia are paradoxically refusing to sign the pledge due to concerns about the impact on the farming industry.
Above Food to acquire Atlantic Natural Foods becoming a leader in shelf-stable, plant-based foods
Food Navigator | 25 October 2021
Above Food, a plant-based foods company, is set to acquire Atlantic Natural Foods for an estimated $30m. This deal will make Above Food a leader in shelf-stable, plant-based foods. With sales of plant-based seafoods climbing 23% in 2020, the two companies identify a ‘shelf-stable’ opportunity as they are able to have the lowest unit economics allowing them to reach over 2 billion people. Over in Europe, alternative protein producers are also joining forces as leading alternative protein companies in Switzerland have come together this week to find The Swiss Protein Association (SPA).
Graphic of the Week
Source: China Dialogue
More Food for Thought
Dollars in the dirt: Big Ag pays farmers for control of their soil-bound carbon | Rod Nickel and Karl Plume | Reuters<br />Impossible Foods Eyes $7 Billion Valuation in Fundraising| Katie Roof and Gillian Tan | Bloomberg