A summit of over 100 investors and business leaders met in London to discuss the urgent need for the food system and new food strategy to start supporting health and environment goals, while keeping a focus on long term profitability.
The summit was titled ‘Rewriting the recipe: Investing in a healthier, sustainable food future’. It was organised by The Food Foundation and City St George’s University of London.
The event highlighted the link between the need for greater transparency in, and action from, the food and beverage sector and how this could in turn unlock more opportunities for long-term investor returns.
Dimbleby commented: “Our economy is inside nature, not external to it. Currently the food system is the largest cause of biodiversity loss, of water pollution and stress and the second greatest cause of climate change.
“It is also the largest cause of avoidable ill health by far. We need to start doing things differently. The Government Food Strategy must make sure nature is visible and make it less attractive to both buy and sell the foods that are harming nature and health.
“This can be done through measures such as tax and banning HFSS advertising. The Food Strategy needs buy in from the Prime Minister and if action is taken quickly at the beginning of the term, this could lead to really meaningful change.”
The food system is responsible for up to a third of GHG emissions and is one of the principal drivers of biodiversity loss and deforestation globally. In the UK we have also seen a rise in economic inactivity due to ill health and rising levels of obesity.
The organisers of the summit says that if left unmanaged, these issues facing the food system will result in further direct and systemic risks for the economy, society and investors.
Rebecca Tobi, senior business and investor engagement manager at The Food Foundation, said: “We would like to see the new food strategy set clear targets and bring in legislation for long-term change of the food system.
“We need to see mandated requirements for disclosure by food businesses of data on key metrics (including the healthiness and sustainability of food sales) and move on to develop a legislative framework that provides the basis for future policy development. This is also a call that we are hearing from investors, as accurate, comparable data and policy certainty and consistency are crucial for better managing material financial risks.”