The true costs of the impacts of the current food system as well as the need for an economic conversation about food system transformation were highlighted in the recent Food System Impact Valuation (FoodSIVI) webinar. The event, which took place on 21 September 2020, featured leading experts on academic, civil, and business fronts.
There is a large global disparity between who receives the benefits of the production, manufacturing and retail in the global food system, and who pays the costs. Inequity is one of the primary societal risks generated by the food system and omitted in prominent corporate tools aiming to account for the impact of the food sector on planet and people.
The human and planetary global footprint of food is huge. The costs of this footprint are not factored into the market or supermarket price of food. What is the scale of these costs, and what would happen to the economy if the global footprint of food were reduced?
The third webinar on food system impact valuation in June 2021 will consider examples from leading companies on how the true cost of food is being reflected in the corporate accounting and reporting of the food sector. It will also discuss the potential of technology and data in non-financial accounting and reporting in the future.
The next webinar on food system impact valuation in March 2021 will tackle the question: how should the cost of the food be reflected in the corporate accounting and reporting of the food sector? This webinar features leading developers of accounting and valuation methods for food system impact.
The new FoodSIVI report, Valuing the Impact of Food, provides a pathway towards costing the impact of getting food on our plates, which include diet-related disease, poverty and use of natural resources. Recovering those costs would result in a tremendous change in human and social welfare and a very different global future.