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Weekly Blue Print 16 January 2023

By January 19, 2023 No Comments

Weekly Blueprint: 16 January 2023 

The Blueprint

I don’t think it comes as a huge surprise that Asia has a large appetite for meat. Meat and seafood-based proteins are said to rise by an astounding 78% by 2050, driven by growing wealth and urbanization within the region. Out of all the meat options, beef was found to have the highest carbon footprint, generating 60 kg of greenhouse gas emissions per kg of meat produced. Along with dairy, meat products contribute to 14.5% of anthropogenic greenhouse gasses annually, more than road transport’s contribution in 2016.

Currently, alternatives include plant-based meats, which are foods derived from plant-based proteins to mimic real meat. A study by Deloitte surveyed 2,000 consumers to find that consumers are increasingly sceptical of the environmental and human health benefits of plant-based meats as opposed to conventional meats. While it has been proven that plant-based meats generates up to 90% less greenhouse gas emissions that that of regular beef, many cite sentiments that it does not taste the same.

For the first time ever, lab-grown chicken meat was served to delegates during meal time at COP27. Lab-grown meat (also called in-vitro meat), are meat products that are grown entirely in a lab setting. For example, scientists can harvest a small sample of cells from a living animal and cultivate it to grow outside of the animal’s body, to produce a meat product. The end product would have the same taste and texture as we all know, but there would be no involvement of agriculture and farming practices. Contrary to its name, lab-grown meat isn’t technically artificial meat. Its origins are still from real animals, where it is then cultivated in a lab.

As compared to traditional animal agriculture, studies have found lab-grown meat to potentially reduce greenhouse gas emissions by 96%, use 45% less energy, use 99% less land, and decrease water consumption by 96%. As such, lab-grown meat could potentially be an attractive alternative, to meet consumer’s demand for meat products without destroying our planet for it. Another perk of lab-grown meat is that it has the potential to reduce the negative health effects associated with meat-eating. During production, scientists can control the quantities of cholesterol and saturated fat content in each cut.

As a land-scarce nation with food security challenges, lab-grown meat provides Singapore a huge opportunity to tackle such a pressing issue, while paving the way to be industry leaders. In December 2020, the Singapore Food Authority (SFA) became the first regulatory authority in the world to approve sale of cultured meat. Midway through 2021, the world’s first commercial cultured meat production facility became operational in Singapore.

With the ever-changing landscape around us, it can get overwhelming to stay current. The Blueprint highlights why pertinent global ESG issues and growing trends are important to our lives and livelihoods. We look forward to engaging in conversations about the interconnectedness of environmental, societal, and governance issues that impact our investments and our futures!

 

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