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July 01, 2020 - Bloomberg Business

Meat Giants May Face Billions in Long-Term Carbon Taxes

Meat Giants May Face Billions in Long-Term Carbon Taxes
Cows in Animal AgFile Photo / © Photabulous!

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.

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