“The global rise of sugar taxes makes it easy to envisage a similar wave of regulatory measures targeting the meat industry,” Fitch Solutions says. Still, “it is highly unlikely that a tax would be implemented anytime soon in the US or Brazil”.
SINGAPORE (Aug 19): Meat could be a target for higher taxes, given criticism of the industry’s role in climate change, deforestation and animal cruelty, according to a report by Fitch Solutions Macro Research.
The idea is still in its infancy and faces a lot of opposition from farming groups, but it is emerging as a trend in Western Europe, says the research group. If taxes gain traction, it could encourage more people to switch to poultry or plant-based protein and help drive the popularity of meat substitutes.
