Halving Food Loss and Waste by Leveraging Economic Systems (FLAWLESS) launched voluntary agreements to accelerate commercially viable models for reducing food loss and waste (FLW) in Indonesia, Mexico and South Africa.
P4G provided this partnership with US $826,000 in catalytic grant funding.
The partnership developed three voluntary agreements (VA): Pacto por la Comida in Mexico, which obtained 20 signatories; South African Food Loss and Waste Voluntary Agreement, which acquired 90 signatories; and GRASP 2030 in Indonesia, which has 20 signatories. In these agreements, corporations in the food supply industry commit to measure and reduce FLW across their operations. The partnership also established food waste measurement and donation working groups in all three countries.
Within two years, the partnership reported food waste reductions of approximately 1,184 tons, which equates to 2,819,047 meals. The partnership also developed three Flawless financial products: carbon credits; sustainability-linked loans in which banks reward companies who meet environmental targets with better rates; and Leanpath’s “pay as you save” model, which provides technology to measure waste and enable kitchens to formulate action plans to repurpose that waste and reap financial benefits. Once deployed, these will drive green growth and deliver measurable financial return. Additionally, the partnership created a Carbon Credits Methodology for certification and carbon crediting based on how much emissions are prevented from reducing food loss and waste.
FLAWLESS plans to continue food loss and waste reduction activity in all three countries, while deploying the sustainability-linked loans. In late 2022, the partnership will launch the Carbon Credits Methodology and identify trading platforms, continue the dialogue around the FLAWLESS financial products and deploy the pay-as-you-save model in Indonesia, using it as a pilot to share results and support Indonesia’s efforts to reduce FLW.
Halving Food Loss and Waste by Leveraging Economic Systems
Food and Agriculture Value Chain
By diverting food from waste to plates, food scarcity amongst vulnerable people can be addressed …. P4G’s support has supported the creation of three voluntary agreements ... and helped WRAP to further develop the voluntary agreement model by allowing us to explore and develop financial investments that could, once deployed, help drive food loss and waste prevention as well as delivering a commercial return.