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.
Lance Ippolito, Head Trader at The Future of Wealth, talks about the health of the tech sector amid the supply chain challenges and the catalysts fueling record highs on the stock market.
Darren Schuringa, Founder & CEO of ASYMmetric ETFs, discusses the major risks to markets and offers ways to hedge high inflation as consumer spending continues to rise.
Danielle Dimartino Booth, CEO & Director of Intelligence at Quill Intelligence and former Advisor to Dallas Fed, talks about what to expect from the FOMC meeting, and how labor participation and wage growth may impact inflation going forward.
Kristina Hooper, Chief Global Market Strategist at Invesco, talks about the Fed's flexibility around tapering and what to expect for the October Jobs Report.
Will Rhind, Founder & CEO of GraniteShares, talks about consumer spending amid inflation concerns and discusses the headwinds impacting the tech and energy sectors.
a.k.a Brands, an accelerator for next-gen, direct-to-consumer fashion brands like Princess Polly, released its first earnings report as a publicly-traded company with strong results. CEO Jill Ramsey joined Cheddar's "Opening Bell" to discuss the company's recent quarter and how the company has grown since its IPO in September.
Rivian is set to makes its market debut as the biggest IPO since Facebook in 2021. The EV maker priced its stock above the expected range at $78 apiece, allowing it to raise a whopping $11.9 billion. Matt Toole, director of deals intelligence at Refinitiv, joined Cheddar to discuss Rivian's highly anticipated IPO and how it's sending the already booming IPO market even higher.
A judge shot down a request by Apple to hold off on changes to payment options in the app store that would allow companies like Epic Games to use external payment systems. Apple had sought a stay that could delay making changes for years but the judge ordered them to implement fixes by December. The tech giant plans to appeal.
