The food sector is addressing Environmental, Social, and Governance (ESG) issues through a variety of sustainability projects and practices.
Sustainable Supply Chain Management involves embracing technology, controlling water and energy usage, and eliminating food waste along the entire supply chain.
Companies integrate ESG into operations and brand image to maximize investment possibilities and mitigate risks. ESG reporting and disclosure can signify sustainable value and open up investment opportunities. Investments in sustainable practices, such as efficient water use, eco-friendly packaging, waste reduction, and plant-based products, are getting more attention due to ESG requirement compliance.
The industry is leveraging technology to improve supply chain traceability in response to increasing demand. One notable example is Farmer Connect, an innovative startup that employs blockchain technology to achieve complete traceability and transparency.
The food industry is facing increasing pressure from consumers, investors, and regulators to improve its ESG performance. Companies prioritizing ESG are more likely to attract investment and customers and are better positioned to manage risks and capitalize on opportunities. Some current trends in the food industry include reducing food waste, improving supply chain transparency, and increasing plant-based food options.
Trade4go
Feb 10th, 2024
