Technological watch
WRAP receives major funding boost to accelerate action on global food loss and waste
WRAP’s new and ambitious ‘FLAWLESS’ food waste reduction partnership project has been awarded US $826,000/c.£677,000 in scale-up funding by the Partnering for Green Growth and the Global Goals 2030 (P4G) initiative.
FLAWLESS (Halving Food Loss and Waste by Leveraging Economic Systems) is a global coalition of partners that will accelerate action on food loss and waste. This will be achieved firstly by mobilising the financial sector to factor in both financial and environmental performance in their lending. This could include, for example, investments that enable the food sector to acquire smart technology to help reduce food waste by repaying the up-front cost through the cost savings instead. And secondly by building on existing partnerships in WRAP Global's three partner countries, Indonesia, South Africa, and Mexico.
If scaled up, the pioneering approach could supercharge global efforts to meet the Sustainable Development Goal (SDG) 12.3 to halve food waste by 2030. It will also help to build more resilient supply chains - essential to meet economic recovery needs as the world emerges from the crippling COVID-19 crisis.
FLAWLESS builds on the world-renowned Courtauld Commitment, run by WRAP, which since 2005 has been working collaboratively with businesses, governments, and citizens to reduce food waste in the UK. The voluntary agreement has successfully helped reduce food waste by 27% per person, which has put the UK over halfway towards meeting SDG 12.3. In 2018 it won P4G’s inaugural ‘State-of-the-art Partnership of the Year Award’.
Says Marcus Gover, CEO, WRAP: “WRAP has had great success reaping the environmental and economic benefits of reducing food waste in the UK through the Courtauld Commitment. FLAWLESS will help us take that collaborative model to the world and scale up our impact. With the help of P4G, we will put the world on a trajectory towards SDG 12.3 and halving global food waste by 2030. Maintaining our focus on food waste and climate change will be more important than ever as we emerge into a post COVID-19 world.
“The partnership with P4G will be transformational. P4G doesn’t just fund vital projects, it provides a whole package of support to accelerate and amplify the impact of its partners. WRAP is honoured to be part of the P4G family.”
FLAWLESS is among nine public-private partnerships, who received scale-up funding of up to $1 million from P4G to deliver tangible scalable and replicable impact in five Sustainable Development Goal areas – food and agriculture, water, energy, cities and the circular economy.
Says Ian de Cruz, P4G Global Director: “P4G’s mission of investing in inclusive and viable new finance and business models comes to life with our new cohort of Scale-Up Partnerships. We’re pleased to welcome this group of innovators to our family. As countries plan their COVID-19 recoveries, these transformative models provide the immediate responses needed to achieve a low carbon recovery and will help move the needle in this decade of action and delivery. As our P4G impact model is enhanced, we will apply our venture capital approach and leverage our strong eco-system of engaged policymakers and organizational partners to accelerate these partnerships.”
ends
FLAWLESS (Halving Food Loss and Waste by Leveraging Economic Systems) is a global coalition of partners that will accelerate action on food loss and waste. This will be achieved firstly by mobilising the financial sector to factor in both financial and environmental performance in their lending. This could include, for example, investments that enable the food sector to acquire smart technology to help reduce food waste by repaying the up-front cost through the cost savings instead. And secondly by building on existing partnerships in WRAP Global's three partner countries, Indonesia, South Africa, and Mexico.
If scaled up, the pioneering approach could supercharge global efforts to meet the Sustainable Development Goal (SDG) 12.3 to halve food waste by 2030. It will also help to build more resilient supply chains - essential to meet economic recovery needs as the world emerges from the crippling COVID-19 crisis.
FLAWLESS builds on the world-renowned Courtauld Commitment, run by WRAP, which since 2005 has been working collaboratively with businesses, governments, and citizens to reduce food waste in the UK. The voluntary agreement has successfully helped reduce food waste by 27% per person, which has put the UK over halfway towards meeting SDG 12.3. In 2018 it won P4G’s inaugural ‘State-of-the-art Partnership of the Year Award’.
Says Marcus Gover, CEO, WRAP: “WRAP has had great success reaping the environmental and economic benefits of reducing food waste in the UK through the Courtauld Commitment. FLAWLESS will help us take that collaborative model to the world and scale up our impact. With the help of P4G, we will put the world on a trajectory towards SDG 12.3 and halving global food waste by 2030. Maintaining our focus on food waste and climate change will be more important than ever as we emerge into a post COVID-19 world.
“The partnership with P4G will be transformational. P4G doesn’t just fund vital projects, it provides a whole package of support to accelerate and amplify the impact of its partners. WRAP is honoured to be part of the P4G family.”
FLAWLESS is among nine public-private partnerships, who received scale-up funding of up to $1 million from P4G to deliver tangible scalable and replicable impact in five Sustainable Development Goal areas – food and agriculture, water, energy, cities and the circular economy.
Says Ian de Cruz, P4G Global Director: “P4G’s mission of investing in inclusive and viable new finance and business models comes to life with our new cohort of Scale-Up Partnerships. We’re pleased to welcome this group of innovators to our family. As countries plan their COVID-19 recoveries, these transformative models provide the immediate responses needed to achieve a low carbon recovery and will help move the needle in this decade of action and delivery. As our P4G impact model is enhanced, we will apply our venture capital approach and leverage our strong eco-system of engaged policymakers and organizational partners to accelerate these partnerships.”
ends
This project has been co-funded with the support of the LIFE financial instrument of the European Union [LIFE17 ENV/ES/000438] Life programme
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