With global food systems under environmental, social, and economic pressures, all businesses need to be concerned with the effect that future food systems will have on their operations and revenue, a new report by KPMG has found.
According to the report, Reimagining Global Food System Resilience, a ‘transformative approach’ to food system development is necessary to ensure sustainability and equity, focusing on how food is produced, distributed, and sustained amid growing global geopolitical pressures.
With food systems deeply interconnected – linking ‘every person and organisation on the planet’ – businesses can lead the way in driving strategic transformation and cross-sector collaboration, in order to enhance food security and resilience.
Lines ‘blurring fast’
“The line between food and energy systems are blurring fast,” commented Anish De, global head of Energy Natural Resources and Chemicals (ENRC), KPMG International.
“As countries try to decarbonise and secure energy supply, it’s clear these decisions directly affect food availability, affordability and sustainability. The need of the hour is joint planning and not isolated strategies.”
Each business sector has ‘unique strengths’ that can improve the overall resilience of food systems, KPMG noted, which in turn leverages the diverse expertise required to create a robust food system fit for the future.
Food equity
“Conversations around sustainable food systems often fail to address the needs of the most vulnerable,” added Apurba Mitra, partner, ESG and Climate Change Lead – KPMG in India.
“Food equity must be at the heart of ESG strategy – integrated with emissions and efficiency. True resilience comes from systems designed to support everyone, especially those at greatest risk.”
Based on a global survey of over 200 industry leaders, the report identifies the need for businesses to collectively work towards a resilient food future, which ‘prioritises sustainability and equity while ensuring that everyone has access to nutritious food’. Read more here.
