Recognizing that approximately one third or more of food is lost or wasted every year globally, the private sector is proactively working to address this major challenge throughout the food chain. A recent Business and Industry Advisory Committee to the OECD paper, entitled BIAC Perspectives on Private Sector Solutions to Food Waste and Loss, argues that tackling food waste is a win-win approach: the private sector benefits through increased productivity and economic returns, while at the same time food security, economic growth and development are all strengthened.
However, in order to scale-up and incentivize private sector-led solutions, the BIAC paper underlines that the right enabling policy conditions need to be put in place. It will be crucial to reach a workable definition of food waste and loss, while also improving consistency in data collection around the world.
BIAC’s paper was submitted to an OECD event on June 20-21 entitled Food Waste Along the Supply Chain, as a contribution to ongoing OECD work to collect and harmonize international data on food waste.
Staff contact: Helen Medina