Sustainability has become an imperative for companies as well as the planet under the urgency toward net zero. A decade ago, reducing environmental impact was merely a “nice to have” for organizations. Today, leaders face ever-increasing pressure from employees, customers, and investors to act decisively on environmental issues. Furthermore, companies’ sustainability efforts have created new demand, and the market is expected to become a trillion-dollar opportunity. McKinsey research shows that about $275 trillion of cumulative spending on physical assets would be needed over the next three decades under the NetZero 2050 scenario from the Network for Greening the Financial System (NGFS). While sustainability is now a necessity, it is also a genuine and enormous business opportunity for green business building.
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A trillion-dollar opportunity at stake
Compared to other economic sectors, the energy sector is facing a seismic shift ...”
We estimate that our total annual addressable market in beef is $500 billion. And we can address all of it thanks to our unique technology stack ...”
I think there’s a real clear analogy to draw with electric cars ....”
Chief digital officer, CLP Group
Austin Bryan
CEO and cofounder, Redefine Meat
Eshchar Ben-Shitrit
CEO and cofounder, Eat Just
Josh Tetrick
I think there’s a real clear analogy to draw with electric cars. In Norway, for example, electric cars made up 2 percent of the total cars purchased ten years ago but now make up more than 70 percent. We can’t ignore the fact that the majority of people won’t be driven by ethics. They’re not going to be driven by morality. They want good-tasting food just like they want a fast and safe car.”
—Josh Tetrick, CEO and cofounder, Eat Just
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We estimate that our total annual addressable market in beef is $500 billion. And we can address all of it thanks to our unique technology stack, which allows us to produce both minced-meat products (such as burgers) and whole-muscle cuts (such as steaks). Let’s assume that a 1 percent market share requires us to produce 250,000 tons of New-Meat products with an average price of $20 per kilogram. According to our analysis, this saves 6.25 megatons of greenhouse gas emissions. A year from now, we expect to have the capacity to produce approximately 5,000 tons of New-Meat a year in our first factory. By 2025, we expect to have capacity to produce 250,000 tons of New-Meat products, and in 2027, we can achieve this volume in sales. At first glance, this can seem like a huge amount of meat to scale up to production, but with our investment in automation and the maturity of our technology, we are already seeing a massive increase in productivity.”
—Eshchar Ben-Shitrit, CEO and cofounder, Redefine Meat
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Compared to other economic sectors, the energy sector is facing a seismic shift from a traditional one-way generation, transmission, distribution, and retail model to ubiquitous access for a multifaceted world where you and I are independent producers and consumers of energy, much in the same way that we now live and breathe digital content through our various devices. That’s a massive journey.”
—Austin Bryan, chief digital officer, CLP Group
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