A whole new era of changes in sustainability are driven by forces of change by the governments, corporations, and consumers in terms of environmental, social and governance.
Industry Leaders of the market are trying to create a positive impact in terms of environmental aspect of the ESG, by using different methods such as combustion, anaerobic digestion, aerobic digestion and pyrolysis, gasification, where the waste is broken down into simple components, reducing the strain on the environment. The byproducts of the industry can be used as power sources and helps in combating climate change.
The key leaders in the industry through adopting the procedures are creating a positive impact on the environment.
There are a wide range of technological processes that positively impact the environment in terms of ESG in the industry. One major process used in the food waste management industry is aerobic digestion, where the food is exposed to microorganisms, which break down the huge compounds into smaller components.
Such components are either dispatched through drain waters or into the soil. There are different types of benefits in terms of environment in the procedure of composting. One of the key benefits is that, when the components of food waste are degraded into the soil, the nutrients and the minerals of such food waste help improve the soil health and the byproducts of food waste can be used as natural fertilizers.
However, there is a major challenge in terms of environment in the process of composting as the facilities for composting of the major industry leaders are located in some distant locations, requiring intense amounts of logistical support, increasing the carbon footprint on the environment.
The other process that is used in the industry is the landfilling process, where the food waste is sent to large areas of land for natural decomposition. According to a report by US EPA (Environmental Protection Agency), food waste is a single large part of the wastes that are sent to landfills, causing air pollution, since large amounts of methane, a greenhouse gas, is produced by this process, which also contributes to climate change. This process has also been reported to cause health disturbance at community scale, thereby negatively impacting the social aspect of the ESG and the United Nations Sustainable Development Goal (UN SDG) – 3: Good Health and Wellbeing.
The other procedures such as pyrolysis and gasification of food waste are some of the processes used in the food waste management industry. It has been reported that the byproducts from the gasification process can be used as renewable energy sources, using a waste to energy process, precisely more environmentally efficient.
The Food Waste Management Market at global scale was valued at USD 34.22 billion as of 2019 and is forecasted to expand with a CAGR (compound annual growth rate) of 5.4% from 2020 to 2027. Major leaders of the market have been using processes such as anaerobic and aerobic digestion processes, which have majorly contributed positively to the environment, although certain challenges in terms of the environment part of ESG have been identified, which negatively impact the ecosystem.
• Waste Management, Inc.
• Republic Services, Inc.
• Covanta Ltd.
• Stericycle, Inc.
• Macro-economic and ESG-variable analysis of the industry, including regulatory, policy, and innovation landscape
• Key insights on infrastructure developments and ESG issues affecting the theme
• Identify key initiatives and challenges within the industry
• Identify ESG leaders within the industry
• Understand key initiatives and the impact of companies within the sector to fuel an informed decision-making process
• Analysis of industry activities based on multi-media sources, including significant controversies and market sentiment
• Offers a global perspective of the industry and the policies and measures taken by the players, for overcoming the challenges faced in terms of Environment, Social and Governance.
• Key insights into the sustainability practices of major players in the market.
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