The charity foundation of billionaire and Amazon founder Jeff Bezos is investing heavily in the research and creation of synthetic meat.
On Tuesday, the Bezos Earth Fund (BEF) revealed its intention to invest $60 million in studying and creating “alternative proteins.” According to the University of Melbourne’s definition, these are plant-based and food-tech alternatives to animal protein. With this $60 million pledge, BEF is taking a giant step toward its $1 billion goal of adapting food systems to climate change.
The organization’s development and promotion of synthetic meats is vital since, according to BEF, agriculture—and especially cattle agriculture—is thought to be a significant source of greenhouse gas emissions and climate change.
The Bezos Earth Fund invested in enhancing the quality of alternative proteins just one week after Oscar Mayer partnered with NotCo, Inc. This announcement comes after Oscar Mayer launched its first plant-based products, NotHotDogs and NotSausages.
Amassing his fortune through founding and currently running Amazon, Bezos stated in 2020 his intention to devote $10 billion over ten years to fight climate change through the Earth Fund.
According to the United Nations Environment Programme, a rise in the consumption of meat and dairy substitutes, particularly in high- and middle-income nations, can significantly reduce emissions that harm the environment.
One study by the Boston Consulting Group from July 2022 found that investing in alternative meats resulted in the largest carbon savings per dollar of invested capital compared to all other sectors.
Many people are looking for plant-based options, says the Good Food Institute. In 2022, the United States had record-breaking retail sales of plant-based meat and fish, reaching $1.4 billion.
However, the flavor and price of substitutes continue to be obstacles for customers.
The institute says the high price of plant-based meat is a significant deterrent for many US consumers.
