As research has recently confirmed, food waste is not only a huge economic loss, it has a major impact on our environment accounting for nearly 15% of global GHG emissions. With an estimated $1 trillion in food being wasted every year, over 1% of global GDP, action to address this issue is an economic and environmental imperative.
The good news is the world is taking the first steps to reduce food waste: public commitments to reduce the amount that is thrown away. Governments and industry bodies have been the first to set targets. The USDA and EPA have set a target to reduce food waste by 50% by 2030. In the UK, the Courtauld Commitment targets a 20% targets a 20% reduction in waste by 2025.
The only way these targets will be reached, however, is if companies make aggressive commitments to reduce waste in the near term. For the companies enlightened to the issue, there’s little reason not to act. You’ll be addressing a major issue while making significant cost savings at the first time.
On the 12th of April, Accor Hotels announced that it would reduce food waste by 30% by 2020. To achieve this, they commit that sites will measure their food waste by value and use that data to drive change. Internal trials with Accor Hotels have shown that sites which adopt these measures can cut food waste by 50% by value.
We applaud Accor for making such a public and aggressive target to reduce waste. They are leading the way on how companies should address this challenge.
We challenge other businesses in the food supply chain to do the same.
Look strategically at this issue. With the right tools, you can dramatically cut waste, saving costs and improving your offer at the same time.