Chemicals Future of Food: Have plant-based protein sales peaked?
UBS Evidence Lab data shows taste improvement remains the key catalyst for broader adoption. Corporate engagement with the category remains high.
ESG, Sustainability
We outline the key takeaways and allocations for the first round of the 48C Tax Credit worth USD 4 billion.
An Overview – 48C Tax Credit
The Qualifying Advanced Energy Project Tax Credit, also known as 48C, was expanded by USD 10 billion under the Inflation Reduction Act. 48C is a unique credit, in that it is an allocated credit – USD 10 billion is available through a competitive process which is run through the Department of Energy (DOE), in which the DOE will decide how to prioritize and divide up the available amount. In late March, the Internal Revenue Service (IRS) released the first round of allocations which totalled to USD 4 billion. This includes more than 100 projects across 35 different states. The Treasury has noted that it will issue a notice for the second round of allocations in upcoming months.
48C is a project that…
Credit Amount:6% of a taxpayer's qualifying investment. Businesses can claim a 30% credit for projects meeting prevailing wage and apprenticeship requirements.
Allocations for Round One
UBS Evidence Lab data shows taste improvement remains the key catalyst for broader adoption. Corporate engagement with the category remains high.
Consumer goods brands in the 'branded' stage might provide more value.
Asian inflation was remarkably benign in 2021 but price pressures rose in the first half of 2022. Will ASEAN inflation take off as it did in the Americas and Europe or are different dynamics at work?