Cutting food waste helps companies profit.
On average, businesses saved $14 for every $1 invested in reducing food loss, according to a new study commissioned by the Champions 12.3 coalition. That’s a robust return for companies and the planet.
The study looked at 700 food companies in the U.S. and 16 other countries and found that a whopping 99 percent actually made money by reducing food waste. Restaurants saw the highest returns, but manufacturing, hospitality, and retail businesses also had returns of $5–$10 for every $1 spent.
The savings resulted from food-preservation strategies like better refrigeration and improved packaging, as well as from coming up with new ways to sell food that otherwise would have gone to waste.
About a third of food produced around the world never makes it to our mouths, which means a lot of water and energy gets wasted. And when uneaten food ends up rotting in landfills, it produces ghastly amounts of methane, a potent greenhouse gas. Food waste is responsible for around 8 percent of annual global greenhouse emissions.
Curious how you can help reduce food waste? Check out our video on portion size, and keep those plates small.