The tax will reduce cow flatulence.
Via The Guardian:
“Sin taxes” on meat to reduce its huge impact on climate change and human health look inevitable, according to analysts for investors managing more than $4tn of assets.
The global livestock industry causes 15% of all global greenhouse gas emissions and meat consumption is rising around the world, but dangerous climate change cannot be avoided unless this is radically curbed. Furthermore, many people already eat far too much meat, seriously damaging their health and incurring huge costs. Livestock also drive other problems, such as water pollution and antibiotic resistance.
A new analysis from the investor network Farm Animal Investment Risk and Return (Fairr) Initiative argues that meat is therefore now following the same path as tobacco, carbon emissions and sugar towards a sin tax, a levy on harmful products to cut consumption. Meat taxes have already been discussed in parliaments in Germany, Denmark and Sweden, the analysis points out, and China’s government has cut its recommended maximum meat consumption by 45% in 2016.
“If policymakers are to cover the true cost of human epidemics like obesity, diabetes and cancer, and livestock epidemics like avian flu, while also tackling the twin challenges of climate change and antibiotic resistance, then a shift from subsidisation to taxation of the meat industry looks inevitable,” said Jeremy Coller, the founder of Fairr and the chief investment officer at the private equity firm Coller Capital. “Far-sighted investors should plan ahead for this day.”
Maria Lettini, director of Fairr, said: “As implementation of the Paris climate agreement progresses we’re highly likely to see government action to reduce the environmental impact of the global livestock sector. On the current pathway we may well see some form of meat tax emerge within five to 10 years.”