Managing FOOD WASTE is beneficial for any business from: Environmental - Social - Governance
By implementing Source Reduction of Food Waste, businesses not only reduce environmental impact but also contribute to sustainable development goals and uphold ESG (Environmental, Social, Governance) commitments. This can also enhance the company’s reputation and trust among customers and shareholders.
FOOD WASTE RECYCLING SOLUTION
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The Current State of Food Waste and Food Loss in Vietnam
According to a report by the World Bank (WB):
Out of every 10 tons of waste in Vietnam, 5-8 tons are biodegradable organic waste, the majority of which is food waste.
According to Saigon Economic Times:
The total loss due to food waste in Vietnam is estimated to be around 8.8 million tons, equivalent to 3.9 billion US dollars, approximately 2% of Vietnam’s GDP.
ESG Goals: Challenges and Opportunities for Businesses
ESG( Environmental, Social, Governance) goals are becoming a critical part of many businesses’ strategies today. It’s not just a commitment to environmental and social protection but also presents numerous challenges and opportunities for enterprises.
How does food waste recycling help businesses achieve ESG goals?
Environment:
Recycling food waste at the source is a crucial solution to minimize negative environmental impacts and optimize waste management. Through this method, businesses can reduce the amount of waste sent to landfills, minimize greenhouse gas emissions from organic waste decomposition, and decrease the energy required for waste transportation and disposal.
Social:
Improving Community Health:
By reducing waste and disease-causing bacteria, recycling food waste at the source helps improve the health and quality of life for the surrounding community.
Climate change significantly impacts human health, causing diseases related to: Respiratory disease, Cardiovascular disease, Insect-borne disease.
Creating Jobs and Education:
This recycling initiative creates employment opportunities for workers involved in sorting and recycling processes, while also raising awareness and educating the community about the importance of environmental protection.
Governance:
Enhancing Public and Partner Visibility:
Publicizing recycling efforts is a highly effective way to promote a company’s image without requiring substantial costs for marketing. This can yield benefits in building relationships with business partners, attracting and retaining investors, and engaging sustainability-focused customers.
Enhancing Business Operations Efficiency:
Employees increasingly seek out companies committed to environmental and social responsibility. This not only attracts talent but can also foster a more positive work environment and increase labor productivity.
Reducing Costs and Optimizing Resources:
Recycling food waste at the source helps reduce waste disposal costs. Instead of transporting large volumes of waste to central processing facilities, processing it on-site saves transportation and processing costs, while optimizing resource utilization.
How Food Waste Impacts the Environment and Businesses?
ENVIRONMENT:
Greenhouse Gas Emissions:
Food waste, when decomposing, generates methane gas, a greenhouse gas more potent than CO2. This contributes to increased greenhouse effect and plays a role in climate change.
Pollution:
In addition to causing air, soil, and water pollution, uncontrolled food waste and nutrient runoff affect human health and wildlife.
Using resources:
The production, transportation, and disposal of food waste require significant water and energy resources.
BUSINESSES:
Operating costs:
Handling and disposing of food waste increases business operating costs, including labor, transportation, processing, and disposal expenses.
Work environment and health:
The odor from food waste can reduce the air quality in workspaces and create discomfort for employees. If not properly managed, food waste can lead to mold and harmful bacteria, affecting the health of employees.
Legal and Compliance:
Many countries have strict regulations regarding the handling of food waste. Non-compliance can lead to fines and adversely affect the reputation of the business.
ECO Solutions partners with businesses to implement ESG by providing food waste recycling solutions
