Some 42 companies have pledged a promising $345 million to contribute to ending global hunger as part of a new initiative led by key international organisations.
The Zero Hunger Private Sector Pledge is a game-changing solution emerging from the UN Food Systems Summit (UNFSS) Action Tracks. It recognises that governments cannot eradicate hunger alone and need more private sector involvement, with investments aligned with the highest-impact areas. To date, pledges have been made in 34 priority countries.
Global hunger is rising unabated, with up to 811 million hungry people in the world in 2020—that’s 1 in 10 people suffering because they did not have access to the most basic need and fundamental right of food. Covid-19 measures have made the issue even worse.
But there is a roadmap to end world hunger. Additional investment in 10 high-impact areas can put hunger in the history books.
“Today, one in ten people go to bed hungry and millions are right on the brink of starvation. This is happening in a world that has enough food to feed everyone, everywhere. It’s time to end this suffering. But to succeed, WFP and the entire community need the creative drive, energy, and commitment of the private sector. Through the Zero Hunger Pledge initiative, businesses around the world can join us and truly make a difference—giving food, hope, and a better future to those who need them most,” said David Beasley, Executive Director of the World Food Programme (WFP).
Although this financial investment must mostly come from governments, public spending will not be sufficient. That is why the UNFSS came up with a game-changing solution to mobilise more private sector investment as a catalytic contributor to achieving zero hunger.
The Pledge is launched in advance of the UN Food Systems Summit. “Increasing private sector investment towards small food producers in geographies with high burdens of hunger is essential to changing the lives of millions of people and making nations food secure. The Pledge enables food companies to provide a strong, united front with governments to make hunger a thing of the past by 2030,” said Peter Bakker, President and CEO, WBCSD.
The Pledge requires companies to make a financial commitment in at least one of the 10 high-impact intervention areas identified in the Ceres2030 findings and in at least one of the priority countries or regions.
Pledgers include a range of companies, from large corporations to small and medium-sized enterprises (SMEs), each having committed to upholding internationally accepted principles including, but not limited to: the Principles for Responsible Investment in Agriculture and Food Systems of the Committee on World Food Security (CFS-RAI), the International Code of Marketing of Breast Milk Substitutes, the Principles of the UN Global Compact, and the UN Guiding Principles for Business and Human Rights.
“The private sector in Africa is absolutely key to Africa’s agricultural development agenda. We are committed to mobilising businesses—big and small—deliver concrete outcomes on the ground,” said Ibrahim Gourouza, Chief Operations Officer, Grow Africa.
Pledging companies will then coordinate with implementing organisations or partners. They agree to being assessed by the WBA and to the assessment being published publicly.
Commitments can come in the form of core business investments, subsidised contributions, cash contributions, and in-kind contributions. They focus on three key areas:
*Empowering the excluded—giving marginalised populations and small producers the resources to learn and benefit from successful agricultural interventions.
*Investing in food producers—encouraging more sustainable on-farm practices and interventions to improve environmental conditions.
*Reducing losses and supporting SMEs—assisting small-scale producers and SMEs to increase their productivity and income.
“What we are seeing with the Pledge is the private sector stepping up to be a bigger part of the solution. This is a game-changing approach to solving one of the most pressing yet oldest challenges humanity faces,” said Lawrence Haddad, Executive Director, GAIN.
With a level of commitment so far amounting to $345 million, the implementing organisations are confident more companies will join in the fight against zero hunger.-- TradeArabia News Service