Corporate Reporting on Food Waste by UK Seafood Companies: Literature Review and an Assessment of Current Practices

Abstract

Over 10% of the world’s population is undernourished, yet 1/3 of all food produced each year is lost or wasted. Such a level of inefficiency in the global food system has a significant economic, social, and environmental impact which has elicited calls for urgent global action. This paper responds to this call by developing an interdisciplinary framework focusing on legal, regulatory, accounting, and reporting frameworks to improve the prevention or reduction of food loss and waste (FLW). Mobilising a literature review, this paper advances a three-pronged suggestion for tackling FLW in UK seafood companies: the development of technological solutions in the form of sensors; the enactment of a comprehensive legal and regulatory reporting template for seafood companies; and finally, the development of accounting standards that mandate reporting beyond the current Food and Waste Accounting and Reporting Standard by the Water Resources Institute (WRI), which is modelled on voluntary compliance.