It’s not often that supermarkets get praise for positive environmental impacts but the investor group that is campaigning to replace animal protein with plant substitutes has singled out Tesco for praise.
The coalition of investors said Tesco was one of the best positioned multi-national companies to transition to alternative plant-based proteins.
The FAIRR Initiative also gave equal praise to Nestle, but was critical of Costco.
FAIRR published the analysis of 16 multi-nationals in a report called ‘Plant-based profits’ and said that it expects the market for alternative proteins to expand by over 8% a year and reach $5.2 billion by 2020.
The FAIRR initiative includes pension funds such as AP2, AP3 and AP4 and institutional investors such as Aegon, Aviva Investors, Coller Capital and Nordea.
Tesco and Nestle were praised for having livestock emission targets, their investor engagement over the subject, and innovative consumer marketing.
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