Food System Economics Commission
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Context
- Recently, a Report was released by the Food System Economics Commission.
- It was titled The Economics of the Food System Transformation
Findings of the Report
Current Food Systems' High Costs:
- The existing global food systems incur significant costs, outweighing their contributions to development.
- The urgent need for a sustainable transformation is highlighted, estimated at $500 billion annually (0.2–0.4% of global GDP).
Environmental and Health Costs:
- Annual environmental cost of current food systems is $3 trillion, with an additional health cost of at least $11 trillion.
- These costs underscore the critical need for a shift towards sustainability and inclusivity.
Socio-Economic Benefits of Transformation:
- Estimated socio-economic benefits of transforming food systems range from $5 trillion to $10 trillion annually (4-8% of global GDP).
- A committee of eminent scientists and academics emphasizes the potential for substantial global benefits.
Feasibility and Affordability:
- Feasibility of transforming global food systems into inclusive, health-enhancing, and environmentally sustainable is affirmed.
- However, the report stresses that lower-income countries face financial constraints, hindering their ability to participate.
Contrast of Pathways to 2050:
- Two pathways analyzed: Current Trends (CT) and Food System Transformation (FST).
- CT pathway predicts food insecurity, rising obesity, and continued environmental challenges, emphasizing the need for change.
Impact on Global Greenhouse Gas Emissions:
- Transformation to FST can significantly reduce global greenhouse gas emissions by 2050.
- Under FST, food systems become net carbon sinks by 2040, aiding in limiting global warming to below 1.5°C.
Economic Benefits and Human Health:
- Global convergence towards healthy diets could contribute up to 70% of the total economic benefits of pursuing the FST pathway.
- Better policies and practices by 2050 can eradicate undernutrition and save 174 million lives from diet-related chronic diseases.
Positive Developments and Carbon Sinks:
- Positive developments include emissions becoming net negative by 2040, extensive reforestation in Brazil and Latin America, and reduced extreme weather events.
- Food systems becoming net carbon sinks can help protect an additional 1.4 billion hectares of land and reverse biodiversity loss.
Global Economic Impact and Farm Worker Well-being:
- Pursuing FST could lead to a 5% increase in global GDP by 2020.
- 400 million farm workers globally could enjoy a sufficient income, fostering economic stability.
Alignment with Global Initiatives:
- The report aligns with the UN Food Systems Summit 2021 and the sustainable agriculture, resilient food systems, and climate action declaration by over 150 countries.
- Urges policymakers to address the food system challenge for short- and long-term global benefits.
Call for Action:
- Ottmar Edenhofer, co-chair for the commission, emphasizes the need for policymakers to tackle the food system challenge head-on.
- Urges stakeholders to engage in a conversation about accessing benefits while ensuring inclusivity.Top of Form
Food System Economics Commission FSEC Overview:
Key Collaborators:
Joint Initiative:
Partners' Roles:
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PRACTICE QUESTION Q. Evaluate the drawbacks of current global food systems in relation to their costs versus contributions to development. Propose succinct policy measures for creating a more sustainable and development-oriented global food system. |