Research finds companies saved $14 for every $1 invested in reducing food waste
The types of investments companies made include quantifying and monitoring food loss and waste, training staff on practices to reduce waste, changing food storage and handling processes, changing packaging to extend shelf life, changing date labels and other staff and technology investments.
New research finds that for every $1 companies invested to reduce food loss and waste, they saved $14 in operating costs, providing concrete evidence of the clear return on investment from food loss and waste reduction.
In a first-of-its kind analysis, “The Business Case for Reducing Food Loss and Waste” study, conducted on behalf of Champions 12.3, a conglomerate of about 30 CEOs, government ministers, global institution executives and civil society leaders to globally inspire ambition and mobilize action to reduce food loss and waste, evaluated financial cost and benefit data for 1,200 sites across 700 companies in 17 countries, finding that nearly every site realized a positive return on their investment to reduce food waste. The types of investments companies made include quantifying and monitoring food loss and waste, training staff on practices to reduce waste, changing food storage and handling processes, changing packaging to extend shelf life, changing date labels and other staff and technology investments.