Meats can be farmed in many ways. But in the best way (and it's a fairly common way) they are raised on useless land, practically wild, consuming grass and water that is also abundant. Think of mountainsides or floodplains in country with a lot of rain.

It had no negative environmental impact, and a very small positive one. Not compare with three impact of any large scale chemical or industrial process. It is necessarily vast. Mining and transporting exotic materials, manpower or specialised robots, etc. All these have huge ecological footprint.

Without even knowing the details (because the industry doesn't exist yet) it will certainly be an ecological disaster, compared against the best possible form of animal farming.

But that firm if animal farming needs to become the norm soon anyway.