Got (Plant) Milk? The Rise and Regulation of the Alternative Meat and Dairy Markets
The plant-based food market has been exploding in recent years, with the plant-based meat market expected to reach a value of $7.4 billion by the end of 2022 and the alternative dairy market reaching a value of $23.2 billion in 2021.
The meat and dairy alternative markets require regulation, but despite their widespread and growing popularity, the U.S. Food and Drug Administration (FDA) has been slow to issue regulations that encompass these markets. In January 2022, the FDA released a list of draft and final guidance topics that it intends to complete before the end of 2022. These topics include draft guidance for plant-based dairy alternatives, plant-based meat alternatives, and for cultured meat. The FDA is soliciting public comments on the proposed guidance, although as of now none of the draft guidance topics have been released to the public
The Tax Consequences of NFTs
The popularity of NFTs has been rapidly increasing over the past year, but regulations and guidance relating to the tax consequences of buying and selling NFTs has been slow to keep up. Despite also living on the blockchain, NFTs and cryptocurrencies are not created equally in the eyes of the IRS. The IRS has addressed the rising popularity of cryptocurrencies and published guidance for crypto-investors but has not yet published any specific guidance for NFTs. This leaves many investors in a position of uncertainty regarding the tax consequences of their investments.
Sustainability en vogue — More Than Just a Fleeting Fashion Trend
“Sustainable,” “eco-friendly,” “ethical,” “recycled” — all buzzwords you might see the next time you’re shopping for a new outfit, designed to make you as a consumer feel like you’re making better choices to help reduce your carbon footprint. But what do those buzzwords really mean — is there any traceable impact the company has made to reduce its carbon footprint? In many cases, unfortunately not. The fashion industry has a major impact on climate change. It is estimated to contribute between 4 and 8.6 percent of the world’s greenhouse gases, and for the most part is largely unregulated. Any efforts to increase sustainability, such as by reducing pollution or eliminating labor abuses, are predominately voluntary commitments with little to no repercussions for failing to uphold those commitments.
The Not-So-Sustainable Side of Electric Vehicles
Set against the backdrop of climate change and a growing global push for sustainability, more people than ever before are turning toward Electric Vehicles (EVs) as a simple swap to reduce their carbon footprint – but are EVs really more sustainable? Although they might seem more sustainable, the long-term impacts of EVs on the environment are still not entirely known. While EVs reduce fossil fuel consumption now, what happens to the battery in an EV when it dies? Can it be recycled? How are the batteries produced? All these factors contribute to an uncertainty around EVs that has governments and scientists thinking of ways to improve the sustainability of the EV industry.
Fly Me (Safely) to the Moon: Regulating Commercial Space Travel
The recent successful trips to the edge of space by Jeff Bezos and Richard Branson are predicted to boost consumer confidence in the possibility of using commercial spaceflight as a global transportation system. However, as interest and involvement in commercial spaceflight grows, safety regulations are failing to keep up. The Federal Aviation Authority (FAA) has the authority to regulate spaceflight, but there is currently a moratorium on regulating the industry until 2023 to encourage innovation.
Put the Salary in the Job Description – Pay Transparency Laws’ Impact on Hiring and Pay Equity
Lately, more and more job applicants seem to want to know the expected salary prior to applying to a job. In 2018, LinkedIn conducted a survey of 450 members asking which parts of a job description they found the most important. When surveyed, sixty-one percent reported that compensation was the most important, indicating that compensation is a key factor for many applicants in evaluating whether a potential job opening is worth their time. Although companies offer their reasons for keeping salary information from applicants, pay transparency, especially in the recruiting stages, is one of the main ways to achieve pay equity
Nevada Limited English Proficiency Consumer Law Taking Effect October 1, 2021
A new Nevada law will take effect October 1, 2021 aimed at ensuring that all consumers are protected from unfair and deceptive business acts and practices, regardless of their proficiency with the English language.