In this file photo from Tuesday, Jan. 27, 2015, a BurgerFi restaurant employee prepares to add cheese to a veggie burger as she grills an order at the Aventura, Fla., restaurant. (AP Photo/Wilfredo Lee)
Plant-based products that do not contain meat can continue to be labeled “sausages” or “burgers,” European lawmakers said Friday, when they rejected a proposal back by the meat industry to ban the terms.
In votes on issues relating to agricultural products, the European Parliament said that so-called veggie burgers, soy steaks and vegan sausages can continue to be sold as such in restaurants and shops across the union.
Europe’s largest farmers' association, Copa-Cogeca, had supported a ban, arguing that labeling vegetarian substitutes with designations bringing meat to mind was misleading for consumers.
On the opposite side of the debate, a group of 13 organizations including Greenpeace and WWF urged lawmakers to reject the proposed amendments, arguing that a ban would have not only exposed the EU “to ridicule," but also damaged its environmental credibility.
They said promoting a shift toward more plant-based diet is in line with the EU Commission's ambition to tackle global warming. Losing the ability to use the terms steak or sausage might make those plant-based products more obscure for consumers.
After the vote, the European Consumer Organization, an umbrella group bringing together consumers' associations, praised the MEPs for their “common sense."
“Consumers are in no way confused by a soy steak or chickpea-based sausage, so long as it is clearly labeled as vegetarian or vegan," the group said in a statement. “Terms such as ‘burger’ or ‘steak’ on plant-based items simply make it much easier for consumers to know how to integrate these products within a meal."
Together with Greenpeace, the group regretted that lawmakers accepted further restrictions on the naming of alternative products containing no dairy. Terms like ‘almond milk’ and ‘soy yogurt’ are already banned in Europe after the bloc's top court ruled in 2017 that purely plant-based products can't be marketed using terms such as milk, butter or cheese, which are reserved for animal products.
Concerns over inflation have become one of the biggest worries for executives. A survey from The Conference Board shows that more than 900 CEOs consider inflation a top tier concern, a major shift from last year's survey that had it as a low-level concern. Rebecca Ray, Executive Vice President, Human Capital, The Conference Board joined Cheddar's Opening Bell for more.
David Maza, Managing Director and Head of Product at Direxion, joins Cheddar News to discuss the evolution of mRNA technologies, future applications of this tech including fighting Lyme disease and HIV, and what this all means for investors.
Jordan Zakarin, Media Producer at A More Perfect Union, joined Cheddar News to break down the latest from Colorado, where at least 8,700 Kroger employees walked off the job in demand of increased benefits and wages.
Thomas Hayes, Chairman at Great Hill Capital, joined Wake Up With Cheddar to break down what to look for on the economic front in the coming months amid an Omicron surge and planned interest rate hikes.
Stocks closed lower Tuesday with investors initiating a broad sell-off, leading the Dow to have its worst day of 2022 so far as it had its biggest decline since November. Investors are eyeing treasury yields, which have surged to pre-pandemic highs, as well as looking ahead to the Federal Reserve's path forward when it comes to raising interest rates. Meanwhile, as earnings season kicks off, Goldman Sachs shares are under pressure after a lackluster earnings report. Goldman is weighing on bank stocks as a whole. Jeff Buchbinder, Equity Strategist for LPL Financial, joins Cheddar News' Closing Bell to discuss today's close, why treasury yields are ticking higher toward pre-pandemic levels, big bank earnings reports, and more.
Mike McGlone, Senior Commodity Strategist at Bloomberg Intelligence, joins Cheddar News' Closing Bell, where he says he believes we'll eventually see Bitcoin reach the $100,000 mark despite its recent struggles, and explains why Bitcoin will be less volatile than the Nasdaq.
Food waste is a major contributor to greenhouse gas emissions in the United States. Strella Biotechnology is trying to solve the problem by introducing new technology to a business that's been around for generations -- farming. The 24-year-old CEO created hi-tech sensors that interpret the shelf life of produce and alert farmers when fruits and vegetables are ready to be sent to supermarkets. The company says the process can help farmers make money, reduce food waste and increase the quality of produce. Strella Biotechnology's co-founder and CEO Katherine Sizov and co-founder and COO Jay Jordan joined Cheddar Climate to discuss.