Published 30 Jun,2020 via Bloomberg Green (Bloomberg) -- Carbon taxes could wipe more than $11 billion in profits from leading meat companies in the coming decades as governments look to curb the industry’s damage to the environment, according to investor network Fairr.
The meat sector has come under increased scrutiny in recent years over its impact on the environment, links to deforestation and animal welfare standards. Agriculture is second only to energy in contributions to global greenhouse gas emissions, and raising animals accounts for almost half the industry’s carbon footprint.
With momentum gathering for policy makers to impose levies on farm-animal emissions, carbon taxes could cut as much as $11.6 billion from 40 leading meat companies’ earnings before interest, taxes, depreciation and amortization by 2050, Fairr said in a report. That’s equal to about 5% of each company’s revenue.
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Agnieszka de Sousa