Your steak dinner may become more expensive soon.
A tax on red meat is becoming increasingly likely in many countries, according to a report from Farm Animal Investment and Risk Return (FAIRR,) a livestock investment education group. Sixteen countries have adopted sugar taxes in recent years, and as most countries, not including the US, work to keep up with the Paris Agreement climate accord, the study showed that the meat industry should expect similar levies.
“It is increasingly probable we’ll see meat taxes become a reality,” said Jeremy Coller, chief information officer of Coller Capital and founder of the FAIRR Initiative. “Countries such as Sweden and Denmark have already looked at meat tax proposals. The continued subsidization of meat is the antithesis of what’s needed as policymakers and countries gear up to deliver on Paris.”