Businesses push for sustainable food systems
By Farms.com
The fight against biodiversity loss is gaining momentum, with major corporations joining the cause. Over 130 companies, including industry leaders like Nestle and Danone, are urging world leaders to take stronger measures to protect biodiversity. This call to action coincides with the upcoming UN Biodiversity Conference (COP16) in October 2024.
These companies belong to the Business for Nature coalition, which advocates for the implementation of the existing Biodiversity Plan, a global agreement signed by nearly all countries.
The plan sets ambitious goals for conservation and ecosystem restoration by 2030. Signatory countries are expected to present detailed plans outlining how they will achieve these goals, including reducing pesticide use and promoting sustainable agricultural practices.
The urgency for action stems from the significant impact of food production on biodiversity. The UN estimates that food systems contribute to a staggering 80% of global biodiversity loss and deforestation.
While incorporating biodiversity commitments into corporate sustainability plans is becoming more common, particularly outside the US, the food industry has historically been less proactive.
There are positive signs. Data from S&P Global shows a significant increase in the number of food companies setting biodiversity targets in 2022 compared to the previous year. Additionally, the upcoming EU ban on deforestation-linked products has prompted major industry players to take action.
Business for Nature believes that stronger government regulations are essential to accelerate progress on biodiversity. They advocate for policies that encourage businesses to adopt sustainable practices and halt nature loss.
This includes financial and regulatory support for farmers transitioning to regenerative agriculture models. The group also proposes mandatory water-use reporting for companies, along with specific targets for water usage and quality in both industry and agriculture.