COP28’s Food, Agriculture and Water Day saw major announcements on climate action for both water and food security and decarbonisation. In total, more than $7.1 billion has been mobilised during COP28 for climate-positive action in the food system sector. Key announcements include: The Agriculture Innovation Mission for Climate unveiled an increased $3.4 billion in aggregated funding for climate-smart food systems and agriculture; Philanthropic funders announced $389 million to support food producers and consumers; Italy pledged a further commitment of up to €10 million to be made available over the next two years, and the UK announced a new commitment of £45 million over the next five years, which will be channelled through the World Bank's Food Systems 2030 Trust Fund.H.E Mariam bint Mohammed Almheiri, UAE Minister of climate change and environment and COP28 food systems lead, said: “To achieve the goals of the Paris Agreement, to keep 1.5C within reach, we must address the connection between global food systems, agriculture, and the climate. At COP28, we have built the foundations for action, which commit 152 countries to transform their food systems, and embedding those commitments in their climate strategies, all the while ensuring they are protecting the livelihoods of those who depend on those sectors. Together, we must build a global food system that is fit for the future. Today marks an important moment in achieving this.” FAO roadmap The UN Food and Agriculture Organization (FAO) identified ten priority areas to push the world closer to achieving zero hunger and climate resilience by 2050. The FAO launched its roadmap earlier this week at COP28, identifying “ten pivotal domains” which call for immediate “mobilised climate finance”. The roadmap will be laid out over the next two to three years, starting with a document that contains 20 key targets to be met between 2025 and 2050. These include food loss and waste, soil and water, forest and wetlands, fisheries and aquaculture, crops, clean energy, livestock and healthy diets for all. The organisation detailed a list of targets for each of the areas, addressing food security and climate change. The targets include reducing methane emissions from livestock by 25% by 2030; ensuring all the world’s fisheries are sustainably managed by 2030; safe and affordable drinking water for all by 2030; and eliminating the use of traditional biomass for cooking by 2030. The roadmap says that by 2030, all countries should have worked towards updating their dietary guidelines for food and should implement legislation which restricts child-targeted food advertising. The roadmap also calls for 50% of food waste worldwide per capita to be cut at retail and consumer levels. It says that all food loss and waste should be used in the production of feed, soil enhancement or bioenergy by 2050. The FAO has called for all farmers to use globally recognised solutions for tracking GHG emissions. Last week, it was announced that six of the world’s largest dairy companies – Danone, Bel Group, General Mills, Lactalis USA, Kraft Heinz and Nestlé – will soon disclose their methane emissions as part of a new global alliance, the Dairy Methane Action Alliance. If the targets are achieved, the roadmap estimates that 150 million people would no longer face hunger by 2025 compared to 2020 and that emissions from drained carbon soils would be cut by 5%. The FAO also anticipates that by 2030, chronic hunger could be non-existent and that gross GHG emissions from agrifood would have reduced by 25%. FAO’s chief economist, Maximo Torero, said that the goal of this roadmap is to transform agrifood systems through accelerated climate actions to “help achieve food security and nutrition for all, today and tomorrow”. With around 738 million chronically malnourished people around the world, Torero said food must be part of the discussion on climate and must attract climate investments, which currently sit at 4%. Funding According to a report released in connection to the roadmap, FAO said climate finance flowing to agrifood systems is “strikingly low” and continues to diminish compared to global climate finance flows, at a time when this type of financing is urgently needed. Ruth Davis, a fellow at the European Climate Foundation, and senior associate at Oxford’s Smith School, said: “The world desperately needs a roadmap which points us to a fairer, more resilient and sustainable future for food systems. The FAO has made a useful start, but it doesn’t take us all the way to the destination we need.” She called for a much stronger focus on nature, which she said would be crucial to ensuring food security. “Goals and targets for protecting and restoring nature, agreed by 188 governments last year in a historic global deal must guide the next iteration of the FAO roadmap, or we all risk being on the road to nowhere.” Food awareness organisation ProVeg International, welcomed the FAO’s roadmap to 1.5C for recognising the absolute necessity for dietary transformation. However, ProVeg also expressed concern about many of the recommendations of the roadmap, including solely proposing methane reduction technologies, putting forward a blanket promotion of aquatic food and not prioritising crops for human consumption over animal feed. ProVeg is one of 21 organisations that have signed a statement highlighting the concerns about the roadmap and calling for a more holistic approach to tackling the climate, nature and health challenges posed by global food systems. Stephanie Maw, policy manager at ProVeg International, said: “We welcome the recognition by the FAO in its roadmap to 1.5C of the need to change diets for both human and planetary health. However, the roadmap falls short of highlighting the specific benefits of transitioning towards more healthy, plant-based diets, especially in regions with excessive consumption of animal-based foods.” She continued: “The UN’s IPCC and the UN Environment Programme (UNEP) have clearly stressed the need to shift to more plant-based diets in order to tackle climate change, but the FAO has not taken this fully on board. In addition, the FAO roadmap talks of 'methane reduction technologies' for livestock, which overlooks key aspects like the availability, scalability and affordability of these technologies, and fails to recognise the critical need for consumption shifts and livestock herd reduction, as recognised in UNEP’s Global Methane Assessment.” “Instead, we would like the FAO to consider the adverse impacts of industrial animal agriculture in pushing us across planetary boundaries and to focus on reducing global farmed animal numbers while implementing policies that accelerate a just transition to healthier, more sustainable, plant-based diets.” Deforestation Also announced at COP28, the UK Government confirmed that “supermarket essentials” will no longer be linked to illegal deforestation. Palm oil, cocoa, beef, leather and soy are to be included in new legislation aimed at helping ensure the products we buy do not harm the world’s forests. This move will give shoppers in the UK assurance that the goods they buy are not contributing to deforestation that violates the laws and regulations of the countries where they come from. The legislation marks a step change from voluntary approaches already in place, protecting the future of the world’s forests that we need to help tackle climate change. Introduced through the Environment Act, this legislation will see businesses that have a global annual turnover of over £50 million and use over 500 tonnes of regulated commodities a year banned from using them if sourced from land used illegally. These businesses will also be required to undertake a due diligence exercise on their supply chains and to report on this exercise annually for transparency. UK Environment Secretary Steve Barclay said: “Globally, we lose forests equivalent to the size of about 30 football pitches every minute. It’s why we are cleaning up supply chains to make sure that big businesses in the UK aren’t responsible for illegal deforestation. It also means shoppers can be confident that the money they spend is part of the solution, rather than part of the problem.”

US canned margarita company SipMargs has raised $2 million in a funding round led by venture capital firm Lab Capital Advisors. Founded in 2021, SipMargs uses tequila from the Highlands of Jalisco, Mexico, and offers five flavours: classic margarita, coconut margarita, mango margarita, mezcal margarita, and spicy margarita. SipMargs is a low-sugar, low-calorie and low-carb option with an alcohol level of 5% ABV. According to the company, the capital will be used to support "its continued growth and innovation". With the funding, the company plans to expand its presence in Michigan, Ohio and Connecticut, with more states to follow, including Virginia and California, in 2024. Justin Nabozna, CEO of SipMargs, said: "We're extremely grateful for the support of our investors and are excited about the opportunities ahead. SipMargs has come a long way since our launch in 2021, and we look forward to growing our brand in the ready-to-drink cocktail market."

Perdue has announced the release of new Air Fryer Ready Crispy Wings, available in Roasted, Hot N’ Spicy and Lemon Pepper varieties. The “at-home wings” are specifically formulated for air frying and are made from chicken raised without antibiotics, hormones or steroids, fed an all-vegetarian diet and raised cage-free. Air Fryer Ready Crispy Wings are available in three flavours: Hot N’ Spicy Air Fryer Ready Crispy Wings: coated in a paprika-based spice blend; Lemon Pepper Air Fryer Ready Crispy Wings offer zesty undertones from lemon oil and lemon juice, and feature turmeric and onion; Roasted Air Fryer Ready Crispy Wings are a savoury wing with a variety of flavours like onion and garlic. Cody Walter, senior marketing manager for Perdue Foods, said: “Knowing 75% of households in the U.S. have air fryers, Perdue saw an opportunity to create the first-of-its-kind chicken wing uniquely made for the air fryer, conveniently delivering the crispiest wings in just 16-18 minutes... so you can skip takeout and enjoy crispy wings at home, anytime - whether it’s for football game days, upcoming family and friend gatherings, or a mealtime favourite.” The new Air Fryer Ready Crispy Wings are available nationwide at select retailers and online.

A beer brewery is set to open in Abu Dhabi, United Arab Emirates, this month, making it the first company to legally produce alcohol in the region. The microbrewery and gastropub by Side Hustle Brews – named Craft – will be located in The Galleria Al Maryah Island in Abu Dhabi. While the brand had previously sold beers in the UAE and on Etihad Airlines flights, it conducted its brewing operations in the US. Abu Dhabi revised its alcohol licensing rules in 2021, permitting license holders to produce beverages on-site for consumption within licensed venues. The brewery will provide on-site brewed hops, grains and cocktails by Side Hustle, the UAE's first craft alcohol brand, along with southern smokehouse and pub cuisine. Side Hustle Brews & Spirits' founder and CEO, Chad McGehee, said: "As founders of the local craft movement, we acknowledge the responsibility presented to us and are both humbled and thrilled to open Abu Dhabi's first craft microbrewery". "We commit to delivering innovative and authentic F&B experiences worthy of the UAW's high standards as we build Craft by Side Hustle into a brand the community can be proud to call their own."

Spore.Bio has received funding for the “world’s first” device that can detect bacteria in consumer products faster, using AI to reduce sampling times from 20 days to only minutes. The pre-seed funding led by LocalGlobe and strategic investors will be used to accelerate the development of its tech while growing the Spore.Bio team of world-class scientists and engineers. The round also included participation from top-tier investors and angels with experience in the industry, fast-moving consumer goods (FMCG) and AI, including EmergingTech Ventures, No Label Ventures, Famille C (Clarins Family Office), Better Angle, Mehdi Ghissassi (Google DeepMind), Roxane Varza (Station F) and more. The start-up has built the world’s first device for detecting pathogens directly on the factory floor. The device uses advanced machine learning models to train its system to identify the concentration of bacteria in food, drink, pharmaceuticals and cosmetic products before alerting quality managers to the potential risks. Historically, quality sampling typically takes between five and 20 days with products having to be sent off-site to external labs, at great expense. According to Spore.Bio, the device provides manufacturers with “almost real-time insights with unprecedented levels of traceability and transparency". Amine Raji, CEO and co-founder of Spore.Bio said: "Our mission is to redefine microbiology and to bring 21st-century technology to an age-old problem. The risks around pathogens in FMCG are only growing, causing needless suffering for families and detrimental effects on the reputations and finances of global companies." Raji added: We’re changing the status quo with Spore.Bio by combining AI and our deep expertise in this space. We’re delighted to be working with such a respected group of investors too that have the technical and strategic backgrounds that will help us scale and grow Spore.Bio into a globally significant business.” Julia Hawkins, general partner at LocalGlobe said: “Spore.Bio’s innovation is where photonics and AI meet the same level of bacterial detection as traditional methods, in real-time. It’s not just a technological advancement; it's a stride towards a safer, healthier society and a clear case of how AI can solve real, industrial problems ... The expert team’s solution gives industry, manufacturers and consumers the confidence that their products are as safe as possible.” Spore.Bio plans to deploy hardware and software systems globally next year.

US manufacturer of food, beverage and agriculture products, Kent Corporation, has announced the acquisition of Frosty Boy Global. Based in Yatala, Australia, Frosty Boy produces desserts, beverages and savoury ingredients, as well as powder-based wellness products. The acquisition was made through Kent's subsidiary, Kent Precision Foods Group. It specialises in dry and liquid-blending packaging for rigid and flexible packaging, offering branded and custom products to customers in the foodservice (domestic and international), industrial and consumer products sectors. The acquisition will expand Kent's global presence. Frosty Boy operates manufacturing facilities in India and Australia, with sales offices located in Indonesia, Malaysia, India, the Philippines, Australia, Turkey, Brazil, Dubai and Thailand. Mike Eversmeyer, president of Kent Precision Foods Group, said: "We are excited for Kent Precision Foods Group and Frosty Boy to join forces and expand what we each do best while leveraging our synergies. Together, our brands and products help people create meaningful experiences and long-lasting memories." Terms of the transaction were not disclosed.

The Sustainable Markets Initiative’s agribusiness task force has announced the launch of a new blended finance framework that could unlock trillions of dollars for regenerative agriculture. A task force of companies including Mars, McCain Foods, McDonald’s, Mondelez International, PepsiCo and Waitrose, has unveiled a plan to make regenerative farming financially viable and to explore implementation projects in India, the UK and the US. They also welcome Lloyds Banking Group to boost cross-industry support and call for policy changes to help the plan work. Last year, the task force found that the economics of reducing food waste and sustainable farming does not work for most farmers. In response, the task force outlined a framework to help increase the economic viability of regenerative farming. This includes new funding and sourcing models; the introduction of common metrics; suggested government policy changes; and a plan to create new revenue streams for farmers. 'New funding and sourcing models' represent a first-of-its-kind blended finance model combining funding from various sources, longer-term contract commitments from food businesses to source sustainable commodities, and crop insurance to help reduce the financial risks involved in farming operations. A plan to create new revenue streams for farmers titled the 'Ecosystem Services Market' proposes a way to create more revenue for farmers by allowing them to capture carbon credits during a field’s entire rotation, not just when it is in use. The task force suggests ten government policy changes which could help unlock $1.2 trillion that regenerative agriculture can add to the worldwide economy. Policy recommendations include financial advice and training support to farmers implementing regenerative farming, and those carrying out R&D; promoting regenerative farming terms in trade agreements; and creating incentives for landowners to encourage regenerative techniques by tenants. Grant Reid, former CEO of Mars, and chair of the Sustainable Markets Initiative’s agribusiness task force, said: "Taking farming back to its roots through regenerative practices isn't a choice; it's one of the only ways we can guarantee farming and global food supply chains can survive for generations to come “That’s why our plan, proving that regenerative farming could be economically viable, rewarding, and scalable, could be transformational to the world. But we need to prove it, which is why we’re eagerly putting into practice our theory by launching implementation projects across the world.”

FrieslandCampina plans to cut 1,800 jobs worldwide over the next two years as part of efforts to lower costs, with approximately 1,200 employees expected to be laid off in 2024. The job cuts will span across "almost all" parts of the organisation. FrieslandCampina said that the job cuts are expected to generate savings ranging from €180 million to €200 million as part of the company's programme that aims to reduce annual costs by €400 million to €500 million by 2026. According to the company, part of the annual savings will be used to offset inflation, and the rest of the margin expansion will be evenly divided between investments in sustainable growth and boosting the company's net profit. The implementation of these cost-saving measures will involve one-time costs of up to €170 million in 2023. Jan Derck van Karnebeek, CEO of Royal FrieslandCampina, said: “Today is a tough day for FrieslandCampina. Over the past period, we have analysed the cost structure of our organisation, and we are now announcing difficult but necessary steps to structurally reduce our costs." "We realise that the announcement of job losses will have a big impact on the people involved. We will, therefore, do our utmost to inform and assist everyone as best as possible during this difficult time. These cost savings should contribute to FrieslandCampina's ability to compete and win in the market for the benefit of our employees and member dairy farmers.”

Dark chocolate toffee brand Riesen has expanded its portfolio with the launch of a limited-edition espresso flavour. The new flavour combines the taste of espresso coffee with chocolate. Andy Mutton, managing director at Storck UK, the parent company of Riesen, said: “Our new product caters to this growing demand and offers consumers that classic combination of chocolate and coffee in the form of an indulgent treat. We believe that the new flavour will be popular amongst the brand’s current loyal following as well as bringing in new shoppers by driving excitement in the category.” Riesen Espresso will be available from 1 January 2024 in 135g sharing bags for £1.25 and will be supported by in-store and online promotions aimed at generating awareness and trial of the new product.

Japanese food group Meiji is investing JPY 48 billion (approx. $331 million) in the construction of a new dairy production facility in Nakashibetsu, Hokkaido, Japan. Meiji says that the new plant will facilitate the stable provision of dairy products in response to its “deteriorating facilities” at its Nishi Shunbetsu and Honbetsu plants, which have been in operation for more than 50 years. It will also enable the company to improve the added value of dairy products to expand its domestic and international businesses. The Nishi Shunbetsu facility produces non-fat dry milk, concentrated skimmed milk, butter and cream, while Honbetsu makes concentrated skimmed milk and cream. The products are made for both retail and B2B markets. The company also makes ingredients for yogurt, sports proteins and other products. At the new plant, Meiji will create new products that “increase the inherent value of milk” in addition to its existing products, by reorganising its production structure, strengthening its core business and promoting growth by increasing demand and overseas export capabilities. Meiji said the new 230,258-square-metre facility will have a production capacity of 430,000 tons of raw milk a year, with the expectation that this will eventually increase to 500,000 tons annually. The group added that the new plant will have “sustainable added value that is friendly for people and the environment,” and will work to expand demand for its products including obtaining Halal certification to promote exports. The dairy company will work on “labour reduction” at the new site, though “IoT and facility automation,” helping it to pursue productivity improvements and develop a more comfortable work environment. The multi-million investment will also be used to implement “new technology and production methods” to cut down carbon emissions and groundwater drainage by 50%, in comparison to its other factories. Construction will begin in April 2024, with the space expected to be operational by March 2027. Production at the Nishi Shunbetsu and Honbetsu facilities is due to cease in 2027. It is unclear how many jobs will be impacted by the Honbetsu and Nishi Shunbetsu closures, and it is not known whether employees will be able to transfer to the new location.

Nice, a UK-based wine start-up, is introducing its first lower ABV Session Wine, available online and to the on-trade in 75cl bottles. The brand said it created its latest innovation to offer consumers the chance to moderate more easily, providing an option for those who do not enjoy the strength of the alcohol content in a typical glass of wine. Inspired by the familiar session lager and IPA format, the 3.4% ABV Nice Session Sauvignon Blanc and Nice Session Merlot has been developed to taste like a full-strength wine. While other categories such as beer and spirits have successfully developed No and Low ABV options that closely mimic the quality of full-strength alternatives, Nice said that wine’s complexity mean the process to de-alcoholise has a more pronounced adverse effect on flavour, style, aroma and texture. The Sauvignon Blanc is described as dry, crisp and fresh with a hint of tropical citrus, while the Merlot is ‘juicy, fruity and smooth’ with a hint of spice. Lucy Busk, co-founder of Nice, said: “Moderation of alcohol isn’t new and it isn’t niche. Three out of four UK adults are proactively moderating their alcohol intake; the same as the number of people who consume alcohol at least once per week.” “It’s also not just a Gen Z phenomenon, we can see from the data that it’s happening across all age groups. That’s why we created Session wine, to offer consumers more choice.” The latest NPD follows Nice’s introduction of its canned sparkling wine, launched in June to the on-trade and in Sainsbury’s stores this Autumn.

StarKist has introduced its latest products in the StarKist Tuna and Chicken Creations pouch ranges, and StarKist Lunch-To-Go ranges. The newest protein pouches are designed to be eaten straight from the pouch or as an addition to meals. StarKist is expanding its single-serve chicken pouch range by introducing two new flavours: a Southwest Style 2.6 oz pouch containing chicken combined with bell peppers and onions in a southwest style sauce; and a Roasted Garlic & Herb 2.6 oz pouch featuring chicken combined with garlic, basil and oregano. The StarKist Tuna Creations Whole Grain Dijon Mustard Tuna Salad is available in a 3 oz pouch, while two new sharing 6 oz pouches have also been introduced – StarKist Tuna Creations Sweet & Spicy features wild-caught tuna and garlic combined with sweet and spicy peppers; and StarKist Tuna Creations Lemon Pepper features wild-caught tuna seasoned with lemon and black pepper. StarKist Lunch-To-Go Kits, designed to be consumed ‘on-the-go,' are now offered in two flavours: a 2.6 oz lemon pepper tuna salad kit, and a 3 oz deli-style tuna salad kit. The kits feature pouches of StarKist Tuna Creations tuna with an assortment of crackers, a napkin and spoon. The new pouches are available online and in retailers.