Investments in plant-based alternatives to meat lead to far greater cuts in climate-heating emissions than other green investments, according to one of the world’s biggest consultancy firms.

The report from the Boston Consulting Group (BCG) found that, for each dollar, investment in improving and scaling up the production of meat and dairy alternatives resulted in three times more greenhouse gas reductions compared with investment in green cement technology, seven times more than green buildings and 11 times more than zero-emission cars.

Investments in the plant-based alternatives to meat delivered this high impact on emissions because of the big difference between the greenhouse gases emitted when producing conventional meat and dairy products, and when growing plants. Beef, for example, results in six-to-30 times more emissions than tofu.

Investment in alternative proteins, also including fermented products and cell-based meat, has jumped from $1bn (£830m) in 2019 to $5bn in 2021, BCG said. Alternatives make up 2% of meat, egg and dairy products sold, but will rise to 11% in 2035 on current growth trends, the report said. This would reduce emissions by an amount almost equivalent to global aviation’s output. But BCG said meat alternatives could grow much faster with technological progress resulting in better products, scaled-up production and regulatory changes making marketing and sales easier.