Monthly Archives: April 2021

For my last blog post this term I wanted to talk about Biden’s Build Back Better Plan and what it means for the future. With the election of President Joe Biden, there has been renewed hope in the fight for climate action. President Biden has rejoined the Paris Climate Accords, a set of nationally determined contributions (NDC’s) that are revised every couple years at the Conference of Parties (COP) where countries come together to negotiate and check in which each other on their climate targets. But on top of rejoining Paris, President Biden has passed an unprecedented $2 trillion dollar COVID-19 relief bill and is proposing another $2 trillion dollar infrastructure renewal plan. This is significant in that the scale is unprecedented, similar to the New Deal proposed by President Roosevelt after The Great Depression…. and it is a real possibility. Both Houses of Congress are controlled by the Democratic Party and will therefore have a high likelihood of being passed.

Source: LA Times

Although infrastructure doesn’t automatically link you to climate change, nor does it sound too exciting, these proposals have enormous stipulations that are linked to green infrastructure. On top of that, there will be millions of direct and indirect jobs that will be created as a result. What this green infrastructure will look like specifically is making buildings more energy efficient, re-tooling jobs for the future as the shift away from coal intensifies, and increasing the efficiency of the electric grid, especially for electric vehicles. This long due investment into infrastructure is much needed, there are communities in America that do not have clean access to drinking water, stable wi-fi, and a reliable power source. This plan will not only boost the American economy but will also create benefits that will flow into Canada, given the interconnectedness of the North American economy.

This plan sounds great for the environment, but at the end of the day it’s a plan and is only in the beginning stages. One can only remain hopeful as we see what happens over the next 4 years of the Biden presidency.

With recent trends in sustainable consumption and healthy living, one product that has been garnering much attention in the media and the stock market are plant-based meat companies. These companies have had crazy IPOs (initial public offerings)  and have been highly overvalued as they are seen as the future to sustainable living. The problem that these plant based meats are proposing to solve is sustainable consumption. When taken in aggregate, meaning if you take into account the emissions needed to raise, transport, and process traditional livestock, the meat industry actually produces more carbon emissions than the transportation sector combined.

The key issue that The Very Good Food Company addresses is sustainable food sourcing. Plant based meats increases the sustainability of the planet by reducing consumption emissions and our dependency for traditional meat sources on land and below water (UN SDG’s 12, 13, 14, 15). Meat production can be carbon emissions intensive with raising livestock, transportation emissions, final packaging, and processing. In fact, household consumption of food has been found to emit more than the transportation industry combined due to the indirect emissions of transporting and raising livestock, thus creating additional externalities and costs. According to Our World In Data on average, raising and producing 100 grams of beef protein yields 25 kilograms of carbon dioxide equivalents, while a similar comparison of protein from beans generates 0.65 kilograms of emissions.

Source: CNN

By offering plant-based meat alternatives, companies like Beyond Meat, Impossible Foods, and The Very Good Food Company are trying to decrease consumption of said meat products with alternatives that are bean, tofu, or even corn based. However, one caveat is that these alternative meats can sometimes be very unhealthy. In order to replicate the taste of meat, these companies have created heavily processed production cycles that have add intense amounts of sugars, and sodium. So, the question is, are these meat-alternatives as healthy as they claim to be?

If theres one word thats been over used in this pandemic its: unprecedented. If you take it for its literal dictionary definition then you would know that there is actual precedent for COVID-19. That was the Spanish Flu seen in 1918, which lasted for 2 years and kicked off The Roaring 20’s, a time of new innovation and growth in the economy, sparked none other than businesses and entrepreneurs. However, whats changed from 100 years ago is that we are living in a globalized economy, everything is linked and COVID-19 has disrupted this global economy. Today, I wanted to talk about the potential this pandemic has for businesses and more specifically, how it has changed consumer behaviour and sustainability marketing.

The Roaring 20’s (Image Source: Financial Times)

According to an article by McKinsey, value is more essential than ever in the times of COVID, however this sentiment varies across different countries. I believe that this is because consumers are now thinking more about their spending while others, have saved and can spend on other non-essentials more freely. Indeed, the pandemic has impacted and exposed the different socio-economic classes and may have actually widened the gap. Another article by Deloitte highlights the importance of going digital, which was a similar finding the McKinsey article. Consumers need to feel safe in order to make a purchase and going online facilities this safety. In fact, digital sales have become more active than during the holiday period during the pandemic. Another finding from the McKinsey article is that there has been a shock to consumer loyalty. Although we love our favourite brands, the article showed that consumers are more price sensitive, want to find value, and are willing to try new things. However, besides value, convenience, and availability, consumers are also saying that purpose and quality are reasons why they would facilitate a purchase. The desire to support local, or the company’s vision would be purpose for example.

These findings have massive implications for how both traditional marketers and green marketers will move forward. Digital marketing will be more important than ever, and as new grads we must be prepared to adapt to this shift. Understanding how the consumer behaviour has shifted and how to integrate that shift into technological applications will probably define how we as a generation will take on this new roaring 20’s. But right now, I can only hope that this pandemic will be ending soon and look to an optimistic summer.