Dive Brief:
- The Consumer Goods Forum (CGF) has pledged to cut its members' food waste in half by 2025. CGF members, about 400 retailers and manufacturers, include many major food and beverage companies, such as Nestle SA, Unilever, and General Mills.
- According to New Food Magazine, food waste costs the global economy about $750 billion annually. Food waste has been called "one of the greatest challenges of our time with 30% (1.3 billion tonnes) of food produced being wasted each year."
- CGF's Food Waste Resolution is committed to aligning the industry with the World Resources Institute's Food Loss & Waste Protocol currently in development. The resolution also contributes to UN's food waste sustainability goals set to be met by 2030.
Dive Insight:
Sustainability is a major focus for many food and beverage companies today, and part of being sustainable is managing and reducing food waste at all levels of the supply chain, from ingredients to retail. Companies are hopping onboard as a way to decrease their carbon footprint, have less of an impact on the local environment, improve efficiency and profits, and boost their image among eco-conscious consumers.
Food company executives and CGF members like Paul Polman, CEO of Unilever and board co-sponsor of the CGF’s sustainability work, said, "At a time of growing food insecurity and climate change, we can’t afford to let this continue. This resolution marks a step change in industry leadership and is an important contribution to the longer term sustainable development agenda," New Food Magazine reported.