WEF’s First Movers Coalition for Food supported by Bain & Company

  • Date: 08-Dec-2023
  • Source: Consultancy ME
  • Sector:Oil & Gas
  • Country:UAE
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WEF’s First Movers Coalition for Food supported by Bain & Company

Within the purview of the COP28 climate change conference, the World Economic Forum (WEF) – in collaboration with the Government of the UAE and over 20 corporate and research partners including Bain & Company – has launched the First Movers Coalition for Food, an initiative that aims to help make more market demand for agricultural products that are sustainable and low-emission.

This initiative aims to use combined procurement power to accelerate the adoption of sustainable farming practices and innovations in the food sector, with an estimated value of $10 billion to $20 billion by 2030.

Participating companies, representing a combined revenue of $2.1 trillion with global operations, will play a pivotal role in shaping the future of sustainable food production.

“Through the First Movers Coalition for Food, leading global companies will send demand signals to catalyze the acceleration and adoption of environmentally friendly farming methods and green innovations. This collective public-private partnership will help de-risk upfront investments into more sustainable food production systems,” said Børge Brende, president of the WEF.

Food systems presently contribute to over 30% of global emissions, making them a pivotal focus in achieving the global climate goals like the Paris Agreement. Agriculture also causes extensive deforestation, a major contributor to climate