CHINA MAKES MAJOR COMMITMENT TO BUY LAB-GROWN MEAT FROM ISRAEL
China has made a major deal that may indicate a major commitment moving forward for the world’s largest market. The country imports about £10 billion worth of meat annually, part of its effort to feed its 1.4 billion people. In a major shift they has just signed a $300 millions dollar agreement to buy lab grown meat from three Israeli companies, SuperMeat, Future Meat Technologies and Meat the Future. The move has been welcomed both be environmental and animal rights groups as lab-grown meat greatly reduces the slaughtering of animals.
CHINA POSITIONED TO BE ENVIRONMENTAL LEADER?
So far China has done very little to be seen as a leader in environmental issues, but this deal may signal a shift in the giant market’s priorities and strategy. Is this another sign this country is serious about reducing its carbon footprint? It is uniquely positioned to be a global leader in such an effort, both because of the scale of its market’s impact and the recent pull back by the United States on environmental issues and the Paris Accords
CHINA DEAL PROMOTES CLEAN MEAT AWARENESS
Head of the Good Food Institute, Bruce Friedrich, said the deal was a “colossal market opportunity.” He believes the deal “could put (clean) meat onto the radar of Chinese officials who have the capacity to steer billions of dollars into this technology”. Just last year, the Chinese government issued an advisory, telling citizens to reduce their consumption of meat by 50 percent. China currently imports approximately £10 billion worth of meat annually to help feed its 1.4 billion people.
CHINA’S MARKET STRATEGY EFFECTS THE WORLD
UN Food and Agriculture Organization estimates that livestock production is responsible for 14.5 percent of global greenhouse gas emissions, while Worldwatch Institute has estimated it could be as much as 51 percent. The world’s water freshwater supply is also significantly impacted by traditional farming.
Additionally, about one billion people currently suffer from hunger globally and the population will reportedly reach 9.8 billion by 2050, making a high-animal diet unsustainable.