SINGAPORE– The shift towards plant-based proteins might benefit food security, the chief sustainability officer of Singapore’s state financier stated Tuesday.
Steve Howard of Temasek stated around 18% of calories originated from animals, however 80% of farming land is utilized for stock. In some markets, 80% of grain is fed to animals, he informed CNBC’s “Squawk Box Asia.” Those resources can be diverted far from animals farming if intake patterns alter.
“More plant-based protein, more alternative proteins — that can really build in food security,” he stated.
Howard stated severe heat waves are impacting food production in India and approximated that grain shops will just have the ability to sustain the world for around 73 days, simply “a couple of months of food security for the entire world.” He stated individuals with lower earnings are specifically susceptible to food cost boosts.
“We have to really focus on diversification,” he stated. Using modern-day innovation in farming will likewise benefit food security.
Green financial investment
Separately, Howard stated cash will still be bought green innovation in spite of economic crisis worries.
“You look for … where are the long-term value creators in a recession, don’t you?” he stated. “People are still looking to deploy capital in that environment.”
The tailwinds are strong due to the fact that of a “virtuous circle” of brand-new innovations that are carrying out well and ending up being more economical, he stated, pointing out electrical cars, alternative protein and solar power.
He stated solar power is moving at “an extraordinary pace of expansion,” and the very same might occur for energy storage and other sustainable sources.
Meanwhile, the policy environment is strong and there’s client need for green options, he stated.
“If you go three, four years ago, most of the capital markets were asleep at the wheel on climate, not really doing things meaningfully. Now, capital markets are queuing up,” he stated.
Companies and federal governments have actually doubled down on sustainability and environment targets, Howard stated.
“The tailwinds are turning into a hurricane,” he stated.