(photo: Charles Deluvio)
01.10.2019, 09:10

From Farm to Fork

Sodexo is the first global food services company to connect its corporate financing to food waste reduction targets, following a pledge by CEO Denis Machuel at the annual meeting of Champions 12.3 coalition partners which supports UN efforts to reduce food loss and waste.


The move which introduces a pricing adjustment to the group's €1.3 billion revolving credit facility (RCF) based on progress it is making towards realising a goal to reduce food waste by 50 per cent by 2025, follows the May launch of Sodexo's data-driven WasteWatch food waste prevention programme in conjunction with third-party auditor Leanpath at 3,000 sites worldwide.


Sodexo's latest RCF is being provided by BNP Paribas (who are acting as coordinator and documentation agent), Société Générale (acting as Coordinator and facility Agent), Banco Santander, Citibank,CM-CIC, HSBC, ING, Natixis and Wells Fargo, and replaces a €1.2bn facility agreed in July 2015.

Addressing the Champions 12.3 event which took place following the 74th session of the UN General Assembly, Denis Machuel, said:

"1.3 billion metric tonnes of food, a third of the food produced annually, is wasted or lost globally. This is unacceptable both from an environmental and a business perspective.


"Together with our suppliers, clients and consumers, we will do our part by preventing 50 per cent of the 117 thousand metric tonnes of food wasted or lost annually within our collective reach.


"We want to send a clear signal to all our stakeholders that as a company who strives to improve quality of life, Sodexo is accountable at all levels, including in its financing, for preventing food waste from farm to fork."








Article rating:

vote data

Leave a reply

 (photo: Brigton Hollingdean MRF/Veolia Environnemental Sevices)
Staff Reporter  - 17.08.2020

Backing the UK's Green Economic Recovery

Veolia’s latest Sustainability strategy, Impact 2023, aims to support innovation and new infrastructure by adding to over £2 billion the company has already invested in the UK's circular economy.

 (photo: )
FM Editor  - 18.12.2019

The Drains of Christmas Future

UK wastewater and drainage solutions provider Lanes Group has reimagined "A Christmas Carol" into a story about the importance of clean drains.

 (photo: )
FM Editor  - 18.12.2019

University of Manchester Clean Room Contract

SPIE UK has won an 18-month design, supply, install and commission contract for a clean room at The University of Manchester, as part of a new build being constructed by Balfour Beatty.