The food industry has the potential to make a massive difference in terms of slowing and even reversing biodiversity loss. And many of the things they can do also can make good business and financial sense. Product reformulation is one of the less obvious, but potentially most powerful, routes.
What is the big theme?
For finance people, biodiversity can sometimes seem to be a problem to be solved by the “wider society”. One on which we act because of the risk of regulation or legal challenge. But, there are also very real financial reasons why acting now makes sense. The food industry has perhaps the greatest ability to drive change, through better supply chains and product reformulation. Not only can this protect future supply chains, but it can make near term financial sense as well.
Summary of a release from the FDA
The U.S. Food and Drug Administration has announced draft recommendations for industry on the naming of plant-based foods that are marketed and sold as alternatives to milk. The draft guidance recommends that a plant-based milk alternative product that includes the term “milk” in its name, and that has a nutrient composition that is different from cow's milk, include a voluntary nutrient statement that conveys how the product compares with traditional milk.