• Latest
  • Trending
Tackling food wastage can be a $2.5 trillion market opportunity for businesses

Tackling food wastage can be a $2.5 trillion market opportunity for businesses

August 13, 2019
Why Intellectuals do not like Capitalism?

Why Intellectuals do not like Capitalism?

December 4, 2019
Hong Kong & the Black Hand

Hong Kong & the Black Hand

December 4, 2019
Trump indicates to veto Hong Kong Democracy Act

Trump indicates to veto Hong Kong Democracy Act

November 23, 2019
Jakarta ex-governor Ahok tapped for job at state energy firm Pertamina

Jakarta ex-governor Ahok tapped for job at state energy firm Pertamina

November 23, 2019
5 snowscapes in Asia to spend your Christmas holiday

5 snowscapes in Asia to spend your Christmas holiday

November 23, 2019
Why some NGOs under fire amid Hong Kong crisis

Why some NGOs under fire amid Hong Kong crisis

November 23, 2019
Taliban replaces ISIS as world’s deadliest terror group

Taliban replaces ISIS as world’s deadliest terror group

November 23, 2019
79% of Indonesia’s priority targets linked to MoEF

79% of Indonesia’s priority targets linked to MoEF

November 23, 2019
slashed with razor

Slashed with razor, police sergeant got badly injured

November 22, 2019
U.S rush to pass Hong Kong bill brings concerns over city’s future

U.S rush to pass Hong Kong bill brings concerns over city’s future

November 21, 2019
Shinzo Abe breaks record as Japan’s longest-serving PM

Shinzo Abe breaks record as Japan’s longest-serving PM

November 21, 2019
$800 billion investment needed for Asia’s food security

$800 billion investment needed for Asia’s food security

November 21, 2019
citizendaily
  • Asia News
    • Northeast Asia
      • China
      • Japan
    • North Korea
    • Oceania
      • Australia
      • New Zealand
    • South Asia
      • Afghanistan
      • Bangladesh
      • India
      • Pakistan
    • Southeast Asia
      • Indonesia
      • Malaysia
      • Philippines
      • Singapore
      • Thailand
  • World News
    • Africa
    • Europe
      • Germany
      • United Kingdom
    • Latin America
      • Cuba
      • Mexico
    • Middle East
      • Gulf States
      • Iran
      • Iraq
      • Saudi Arabia
      • Syria
    • North America
      • Canada
      • United States
    • Russian Federation
  • Economy
    • Brexit
    • Free Market
  • Politics
    • ASEAN
    • Diplomacy
    • ISIS
    • National Defence & Security
  • Editorial
  • Environment
    • Climate Change
    • Forests
    • Water & Oceans
    • Wildlife & Endangered Species
  • Lifestyle
    • Books & Literature
    • Entertainment
    • Food & Dining
    • Religion
    • Travel
    • Tech
  • Sports
No Result
View All Result
Saturday, December 7, 2019
  • Asia News
    • Northeast Asia
      • China
      • Japan
    • North Korea
    • Oceania
      • Australia
      • New Zealand
    • South Asia
      • Afghanistan
      • Bangladesh
      • India
      • Pakistan
    • Southeast Asia
      • Indonesia
      • Malaysia
      • Philippines
      • Singapore
      • Thailand
  • World News
    • Africa
    • Europe
      • Germany
      • United Kingdom
    • Latin America
      • Cuba
      • Mexico
    • Middle East
      • Gulf States
      • Iran
      • Iraq
      • Saudi Arabia
      • Syria
    • North America
      • Canada
      • United States
    • Russian Federation
  • Economy
    • Brexit
    • Free Market
  • Politics
    • ASEAN
    • Diplomacy
    • ISIS
    • National Defence & Security
  • Editorial
  • Environment
    • Climate Change
    • Forests
    • Water & Oceans
    • Wildlife & Endangered Species
  • Lifestyle
    • Books & Literature
    • Entertainment
    • Food & Dining
    • Religion
    • Travel
    • Tech
  • Sports
No Result
View All Result
citizendaily
No Result
View All Result

Tackling food wastage can be a $2.5 trillion market opportunity for businesses

August 13, 2019
in Asia News, Featured, Politics, World News
0
Home Asia News
Post Views: 20

RelatedPosts

US inciting military tension: North Korea

N. Korea: US ‘Hell-Bent on Hostile Acts’ Despite Wanting to Talk

UN Women Releases Report on Equality, Families

Willful Food Waste, Woeful Want

 

As popular debate continues to grow around the rising climate crisis, a new industry is emerging to take a bite out of one of the key culprits: Food waste.

According to the United Nations, food wasted in the supply chain and at the dining table is one of the biggest contributors to global climate change, generating 4.4 gigatonnes of carbon dioxide equivalent on an annual basis. Represented as a country, it would be third only to the U.S. and China.

The implications of that improvidence on the environment and society are evident. But, increasingly, economies are waking up to why it’s important for businesses to introduce measures to tackle the issue.

According to the U.N., the price tag for the combined costs of social, economic and environmental impact comes up to $2.5 trillion annually. That shortfall is also spawning a new wave of businesses hoping to take a piece of that pie with their food waste solutions.

One such business is The Food Bank Singapore, a Singapore-based food bank that collects excess food from suppliers and re-distributes them to care homes and charitable organizations such as soup kitchens.

The non-profit organization’s co-founder Nichol Ng told CNBC it aims to tackle the two-fold issue of food waste and food scarcity by encouraging individuals and corporations to donate excess produce for redistribution among its network of 310 charities and 200,000 individuals.

But she said there’s still a long way to go in educating companies to limit food waste at the source.

“It’s still an uphill task, honestly,” Ng said Monday. “I think it’s also the way the market has been mapped out for many, many years,” she said, noting that supply chains are not well set up to respond to today’s changing food demands.

To assist with educating people, Good For Food, a data analytics company, offers its smart tracker technology to hotels and large commercial kitchens to reduce food waste and save costs.

“There are many solutions that help redistribute or recycle food waste, but almost no solutions out there that help prevent it in the first place,” its CEO and Co-Founder Rayner Loi told CNBC Monday.

“What could be more helpful is helping the kitchen understand how they can reuse certain items or certain ingredients in other parts of the menu,” he said, giving the example of deep-frying otherwise redundant potato peelings and using them as a garnish.

“Instead of it going to waste, they’re upcycling it,” he said, referring to creative ways of reusing unwanted materials and converting them into something useful, or even beautiful.

Loi claimed his company’s “actionable insights” provide customers a 30% to 50% reduction in food waste within the first few months of implementation, and even provides cost savings of 3% to 8%. Meanwhile, food scraps that are unusable are finding a new life in the form of fertilizers and cooking gas, thanks to energy companies like Israel-based Homebiogas.

The business uses bacteria to break down foods, including fruits and vegetables, meat and diary, and converts it into biogas.

The co-founder of HomeBiogas, Yair Teller, told CNBC’s Sustainable Energy this month that the technology was a clear solution for dealing with the world’s food waste problem while tackling energy shortages.

“For energy, for electricity, for hot water, for anything that we need, all of it can come from … organic material,” he said.

“This way, we also can treat the organic waste that today is pouring into our rivers, into our wells, into our seas, contaminating all our environment,” Teller said.

Source :

CNBC

Tags: climate crisisFood Wastenew industryThe United Nations
Previous Post

Sydney's desalination plant set to expand as drought continues

Next Post

Hong Kong airport reopens as Trudeau urges China to address 'serious concerns'

Related Posts

Why Intellectuals do not like Capitalism?
ASEAN

Why Intellectuals do not like Capitalism?

December 4, 2019
Hong Kong & the Black Hand

Hong Kong & the Black Hand

December 4, 2019
Trump indicates to veto Hong Kong Democracy Act
Asian politics

Trump indicates to veto Hong Kong Democracy Act

November 23, 2019
Jakarta ex-governor Ahok tapped for job at state energy firm Pertamina
Economy

Jakarta ex-governor Ahok tapped for job at state energy firm Pertamina

November 23, 2019
5 snowscapes in Asia to spend your Christmas holiday
Destination

5 snowscapes in Asia to spend your Christmas holiday

November 23, 2019
Why some NGOs under fire amid Hong Kong crisis
Asia News

Why some NGOs under fire amid Hong Kong crisis

November 23, 2019
Next Post
Hong Kong airport reopens as Trudeau urges China to address ‘serious concerns’

Hong Kong airport reopens as Trudeau urges China to address 'serious concerns'

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Translate

Subscription

Popular Post

Why Intellectuals do not like Capitalism?
ASEAN

Why Intellectuals do not like Capitalism?

December 4, 2019
0

London/Hong Kong (5/12).  Following the collapse of socialist systems around the world at the end of the 1980s, the superiority...

Read more
Bangladesh gunmen made no demands, Islamic State not involved

NGOs call for mass boycott of palm oil giant IOI

June 29, 2016
No peace for Greenpeace

No peace for Greenpeace

July 1, 2016
Bangladesh gunmen made no demands, Islamic State not involved

The Case Against Greenpeace

July 1, 2016
Bangladesh gunmen made no demands, Islamic State not involved

Malaysia: The Third Force & the Nika Affair

July 1, 2016
  • About Us
  • Creative Commons
  • Privacy Policy
  • Terms & Conditions
  • Disclaimer
  • Contact Us

Topics

Follow Us

About Us

citizendaily.news is part of the citizen Daily Media Group LLC, which delivers daily news around the globe. ​

© 2012 The Citizen Daily

No Result
View All Result
  • Asia News
    • Northeast Asia
      • China
      • Japan
    • North Korea
    • Oceania
      • Australia
      • New Zealand
    • South Asia
      • Afghanistan
      • Bangladesh
      • India
      • Pakistan
    • Southeast Asia
      • Indonesia
      • Malaysia
      • Philippines
      • Singapore
      • Thailand
  • World News
    • Africa
    • Europe
      • Germany
      • United Kingdom
    • Latin America
      • Cuba
      • Mexico
    • Middle East
      • Gulf States
      • Iran
      • Iraq
      • Saudi Arabia
      • Syria
    • North America
      • Canada
      • United States
    • Russian Federation
  • Economy
    • Brexit
    • Free Market
  • Politics
    • ASEAN
    • Diplomacy
    • ISIS
    • National Defence & Security
  • Editorial
  • Environment
    • Climate Change
    • Forests
    • Water & Oceans
    • Wildlife & Endangered Species
  • Lifestyle
    • Books & Literature
    • Entertainment
    • Food & Dining
    • Religion
    • Travel
    • Tech
  • Sports

© 2012 The Citizen Daily