True Cost Accounting and the Future of Food

From our partners at The Global Alliance for the Future of Food:

Profound changes in the way food is grown, processed, distributed, consumed, and wasted over the last several decades have led to increasing threats to a future of food that is sustainable, equitable, and secure, particularly when coupled with climate change and shifting global economics, politics, and demographics. We need to do things differently. True cost accounting (TCA) is a critical tool to help us, as a global community, better understand the impacts of food systems, address the most harmful practices, and find new, positive pathways forward. By evaluating the impacts – both positive and negative – inherent in different food systems, and making these impacts transparent, decision-makers on farms and in governments, institutions, and businesses can make better-informed decisions that take into account the economic, environmental, and social impacts of their choices.

True Cost Accounting Community of Practice The Global Alliance for the Future of Food initiated a True Cost Accounting Community of Practice with some of the leading TCA practitioners in the field to: 1) encourage networking, learning, and collective action; 2) engage in deeper explorations of various methodologies and applications; and 3) identify tools for implementation of TCA in food systems, including pricing, policy change, and on-farm decision-making.

True Cost Accounting Accelerator The Global Alliance for the Future of Food is supporting the development of a global True Cost Accounting Accelerator to mainstream the inclusion of natural, social and human capitals in food system decision making, harmonize approaches and bringing them to scale, quickly. The Accelerator will support and amplify messages of key stakeholders and partners engaged in TCA for food systems, including the Community of Practice members, and provide a platform for increased leadership, coordination, and alignment between TCA actors. The Accelerator will facilitate the development tools that support the application of TEEBAF and TCA across food systems.

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