"A key challenge to growing the plant-based protein market is making the taste and texture of the products comparable to animal-based protein. It is the solutions from the flavours and fragrances companies that will allow this to happen.
"These are proprietary technologies, providing the companies with significant barriers to competition, which in turn will allow them to generate high levels of profitability.
"This is just one example of how a detailed understanding of a wide range of businesses can translate into identifying investments for a global sustainability portfolio.”
David Winborme, global sustainable equity portfolio manager at Impax, says he engages with the management teams of many of the companies in which he is already invested, as a way of understanding the emerging trends in their sectors.
