3 ways food and beverage companies can achieve sustainability
We don’t give much thought to where our food comes from or how it is grown. Agriculture accounts for 70% of all water consumption in the world. The run-off from manure, fertilizer and pesticides are primary sources of pollutions. The majority of the deforestation is the result of agriculture. Agriculture is also responsible for emission of 17% of greenhouse gasses. So, you can see that the food and beverage sector faces huge challenge when it comes to climate change, water scarcity, and other sustainability problems. Here are three ways the food and beverage companies can move towards sustainability.
1. Companies should embrace sustainability as a core corporate value. They should shape long-term strategic business decisions accordingly. Some companies have already adopted this strategy. A promising trend is seen in these companies. More than half of the food and beverage companies have emphasized on adopting sustainability strategy. This indicates that these companies take sustainability seriously.
2. More companies are now getting engaged with stakeholders on social, environmental and governance issues. More companies now understand that sustainability risks are business risks. They are making efforts to reduce greenhouse gas emissions in operations. But only 25% of the companies are using renewable energy sources.
3. These companies are falling short of using sustainable sourcing of ingredients in its supply chain. The food and beverage companies should have measurable goals to source the primary agricultural inputs sustainably. They should provide incentives to farmers to implement sustainable practices at the field level.
Some companies are progressing towards sustainability. But a good portion of the industry is still behind on this issue. These companies must be encouraged to start sustainable business practices within their organization.