Jeremy Coller Foundation, Chief Investment Officer of Coller Capital and Chair of the FAIRR Initiative.
In the aftermath of the Second World War, the world faced a looming catastrophe of a planet unable to produce enough food for its fast-growing population. The answer came in the promise of the Green Revolution: a business-led transformation to more efficient methods of agriculture, promising plenty for all. But from the beginning, it provided a monumental example of the law on unintended consequences.
First came the glut: The new methods were so successful, they swiftly produced a vast supply of cereals in the U.S., forcing down prices and threatening countless farms and related businesses. Then came easy access to antibiotics, allowing mega-farms to confine ever-larger numbers of animals in ever-more-crowded feedlots, sustained on a diet of crops that could have been more efficiently fed to humans.
The animal industrial revolution was born, and the abundance made possible by the Green Revolution was squandered. Far from ending food shortages, industrial agriculture now exacerbates them. Because instead of being used to feed the 345 million people facing crisis levels of food insecurity, most of the enormous surpluses the Green Revolution helped generate are used to feed the 70 billion animals that end up on our plates each year.
Across the world, 77% of agricultural land is now given over to animal production, including crops for feeding them. Yet it produces just 18% of the global supply of calories for humans. We’re using more than three-quarters of our resources to produce less than one-fifth of our output. The numbers just don’t add up. And that’s before you consider the fact that intensive agriculture accounts for 14.5% of anthropogenic greenhouse gas emissions, is the biggest driver of deforestation, is one of the biggest consumers of fresh water and antibiotics and, as we see with the current concerns around avian flu, is fueling the risk of another deadly pandemic.
Business Leaders In The Driver’s Seat
Something has to change, fast. And it’s innovative business leaders and investors who are best placed to bring about a new green revolution. In fact, many already are, with pioneers in everything from plant-based proteins to net-zero farming cultivating not just tomorrow’s dinner but also the very future of food.
• Plant-based pioneers: The past two years saw a 43% U.S. sales increase in food products using plants to imitate the taste, texture and appearance of meat. This is significant, as switching from a conventional beef burger to, for example, Beyond Meat’s plant-based equivalent can reduce your burger’s greenhouse gas emissions by 89%.
• Clean meat: Investment in “clean” meat, i.e., actual animal protein produced by culturing animal cells (usually in a lab), soared by 425% from 2019 to 2021 (from $50 million to $1.4 billion), according to Good Food Institute data. Singapore has become the first country to allow the commercial sale of these animal proteins. The U.S. is one step closer to seeing clean meat on the menu following the Food and Drug Administration’s approval of Upside Foods lab-grown chicken.
• Sustainable feed: The collapse of the grain supply from Ukraine following the Russian invasion was a stark reminder that no aspect of the animal production system is as vulnerable as feed. That’s why some animal protein producers are focused on developing more sustainable options, including Cranswick, a U.K.-based pork-poultry producer that is trialing insect protein, and the Millennial Salmon Project, which is piloting algae-based feed.
• Net-zero farming: Many farmers have committed to net zero and are innovating with carbon storage, renewables and bioenergy to help power their farms and local areas.
An Ever-Green Revolution
I recently celebrated my 65th birthday and found myself reflecting on how completely the world of business has changed in my lifetime. New jobs and technologies mean tasks that would once take a whole team weeks to complete are now the work of an afternoon. Yet when it comes to that most basic of needs, feeding ourselves, we’re still reliant on a failing model created before I was born.
It just doesn’t make sense. A new green revolution—an ever-green revolution—one focused on more efficiently and effectively feeding the world while better caring for the planet and agricultural animals, could not just solve the very real problem of food insecurity. It could also create myriad new opportunities for farmers, consumers and investors alike. In Israel, for example, startups are already creating whole new industries based on novel fermentation technologies and lab-grown meat, while strategies such as promoting crop rotation and better soil management in the EU’s Green Deal can reduce the environmental impact of farming and make it more resilient.
There’s no reason why we can’t make this happen on a global scale. It’s in our hands, and there are three key steps business leaders can take to help bring it about.
1. Affect policy. First, we must use our influence to make policymakers level the food industry playing field. Worldwide, around 87% of yearly subsidies is given to agricultural practices that undermine the pursuit of net zero. Meanwhile, tax regimes such as VAT in Italy and Germany make sustainable options such as plant-based milk more expensive than animal-based options, and labeling regulations threaten to forbid the use of terms such as “oat milk.”
2. Invest in skills. We need to invest in the skills needed at every stage of tomorrow’s food industry—from data management to safety testing to the science of agritech.
3. Work together. Finally, we need to work collaboratively, across public and private sectors and across the value chain. The challenge of building a net zero, sustainable food system is enormous and creates ample opportunity for all, but siloed thinking is unlikely to get us there.
The human race has a long history of innovating its way into trouble. Happily, it has a long history of innovating its way out again, as well. We face a pivotal moment for food production across the world—and it’s important for business leaders to take the right path.
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