Food 4 Thought issue #3

Dear Reader,

Welcome to the third issue of the Food 4 Thought newsletter! Today’s issue features a biotech company offering more sustainable food packaging, a movement to prevent a Brazilian meat company from listing on the NYSE, a study on the concerning state of aquatic food production, and France’s second attempt to regulate plant-based meat substitutes. Thanks for tuning in!

-Isabel

1. Climate activists are pressuring the U.S. SEC to prevent Brazilian meat company JBS from obtaining a U.S. IPO 

A coalition of environmental advocacy groups is calling on the U.S. Securities and Exchange Commission (SEC) to prevent Brazilian meat giant JBS from listing on the New York Stock Exchange (NYSE.) In a series of letters addressed to the SEC, environmental groups, including Rainforest Action Network, Mighty Earth, and World Animal Protection, highlight the meat company’s poor track record regarding deforestation of the Amazon rainforest, climate change, human rights abuse, and greenwashing.

Glenn Hurowitz, CEO of Mighty Earth, emphasized, “This is probably the single most important IPO for the climate in history. There are profound implications if JBS, the world’s worst Amazon deforester, is given the go ahead to seek billions of dollars from Wall Street…”

If given the green light, JBS would likely be eligible for a U.S. IPO by the end of this year. The meat producer has been attempting to list on the NYSE for nearly a decade, but the process got halted by a corporate bribery scandal in 2017 and COVID-19.

2. MadeRight produces sustainable food packaging from fungi

Israeli biotech startup MadeRight is creating healthier, more sustainable food packaging by harnessing fungi. The company is looking to offer an alternative in a growing industry scrutinized for its negative impact on health and the environment. According to the company’s website, 40% of the plastic produced worldwide is utilized for packaging and only 9% of that plastic gets recycled, which means it makes its way into landfills, waste, soil, and air.

MadeRight’s packaging is produced through a circular economy model, an alternative economic model that keeps products and materials in circulation instead of the traditional “take-make-waste” model. The process begins by growing fungi on industrial organic waste, followed by converting the fungi into high-value biomaterials, and finally producing sustainable, high-performance packaging materials. MadeRight highlights how fungi are among the most scalable materials, as they grow rapidly year-round and are adaptable to different environments and climates.

The startup launched in 2022 and has amassed $2M in funding thus far. Additionally, the company has won several awards, including the Unilever Sustainable Challenge Award, the Mass Challenge 22 Cohort, and the 2023 Disrupting the Future of Plastics award.

3. Study finds more than 90% of aquatic food sources are threatened by environmental change

A study conducted by researchers at Blue Food Assessment has found that 90% of ‘blue’ foods, which include fish, shellfish, plants, and algae, are threatened by environmental change. The research identifies 17 environmental stressors impacting the quality and quantity of aquatic food sources, including five climate-related stressors (warming, acidification, sea level rise, severe weather events, and altered precipitation), five non-climatic stressors (hypoxia, eutrophication, diseases, invasion, and parasites), and seven biological and chemical stressors.

According to the study, aquatic food sources in the U.S. and several Asian countries, including China, Thailand, and Japan, face the most significant threats based on the prevalence of the aforementioned environmental stressors. Furthermore, several countries in Asia, Africa, and Latin America face significant challenges in supporting mitigation and adaptation measures to deal with the numerous environmental stressors at play. This is a cause for concern, as more than three billion people rely on blue foods as a food source.

To sustain aquatic food sources, the researchers suggest several remedies, including greater stakeholder engagement, improving local adaptation responses, incorporating local and indigenous knowledge/practices, and local government involvement and action that responds to the vulnerabilities of blue foods.

4. France attempts to regulate plant-based food labeling for the second time

France is the latest country to attempt to regulate plant-based meat imitation products. The French government recently published a decree prohibiting vegan and vegetarian food companies from labeling their products with 21 meat terms, including “steak”, “ham”, and “spare ribs.” Marc Fesneau, the country’s agriculture minister, asserts that the purpose is to promote transparency, loyalty, and consumer trust.

This is France’s second attempt to issue a decree banning meat-related language on plant-based food packaging. The first decree was published in 2022 and was rejected by the Council of State, which claimed it was too vague. The country’s updated decree is said to be more comprehensive.

Those who support the decree include French farmers and meat companies, who believe plant-based meat products can mislead consumers.

The proposed legislation has attracted criticism from climate advocacy and animal rights groups, who say the government is pandering to the meat industry. EU data shows that France is the European country producing the most beef, accounting for more than 21% of the bloc’s total production. Critics also argue that the government should instead focus on the harmful effects of animal farming and meat consumption on human health and the environment.