A new report by Deloitte suggests that developing sustainable food system reforms could reduce global food prices by 16%, increase food availability, and improve access to healthier diets, as well as lead to global economic growth (GDP) gains of $121 trillion by 2070.
Launched at COP29, the report, ‘Turning point: Feeding the world sustainably’, analyses the long-term benefits of five system-level solutions to feed the world more sustainably, noting that more food, sustainably produced, could contribute to reducing the number of undernourished people by 300 million.
Enhancing food security
At the same time, global food production could grow by 9.2%, adding $22 trillion to food systems’ output and generating 1,030 trillion extra calories—sufficient to meet the needs of 1.6 billion more people. This transformation would particularly benefit lower-income countries, potentially boosting their GDP by 12%, Deloitte notes.
‘Around 730 million people—nearly 10% of the global population—are presently undernourished. This transformation could make significant progress toward enhancing food security,’ it says.
Without significant change, the report warns, agricultural expansion could require 13% more land, with detrimental effects on natural resources and biodiversity. At the same time, climate change could also impose a global economic loss of $190 trillion by 2070, including a $13 trillion decline in primary food production, between 2025 and 2070.
Transforming food systems
The report identifies five solutions to transform food systems sustainably, emphasising innovation, circularity, emission reduction, and equitable access. Achieving these changes will require coordinated action across the entire food value chain, from governments to producers and financiers. This transformation would produce 40% more calories while adhering to climate targets and advancing global equity.
‘Across the system, every value chain actor—finance, technology, producer, supply chain and government will need to be involved,’ says Deloitte.
‘Feeding the world sustainably requires action across the food, climate and natural systems. From the local to the international level, each part of the economy has a role to play in enabling a more productive food system that is less harmful to the environment and contributes to reducing emissions to limit temperature rises to well below 2°C.’ Read more here.
