Compass Group ends April with Stop Food Waste Day
Global catering company Compass Group ended April with an initiative designed to support the global food chain: Stop Food Waste Day. On the 27th April, the company committed itself to educating the public about the growing issue of food waste. It staged events in 30 countries around the world, including the UK, the U.S., Brazil, Denmark, and Japan. But nowhere was it taken up with as much vigour as Canada, where the City of Toronto supported the company by declaring Stop Food Waste Day as an official event.
Compass Group’s share price is up by 7% over the past month
SOURCE: Yahoo Finance
Compass hosted a wide variety of events throughout the day, such as chef demonstrations on how to “use whole produce in Root to Stem cooking,” and chef competitions to see who can “create the least amount of waste in their recipes.” The company also ran social media campaigns and educational videos all over the world to educate associates and customers on the realities of food wastage.
In Canada, food wastage remains a serious problem. The country sees $31 billion in food wasted each year, which amounts to 30% of the country’s annual food production. When you add the tangential costs that accrue around this waste – fuel, water, labour and land – the total cost approaches $100 billion a year. 47% of this food is wasted in individual homes.
Saajid Khan, the CEO and president of Compass Group Canada, said: "As the largest foodservice company in Canada, Compass Group has a role to play in reducing food waste whether that be through the creation of initiatives such as Stop Food Waste Day, our ongoing food waste reduction programs or the development of our education initiatives."
“Compass is also working with some of the most innovative companies in the food waste sector including Winnow, a company with a smart technology solution to enable commercial kitchens to measure and better manage their food waste and Lean Path, a waste-tracking software used at major client sites in the USA."
Dominion holds Compass Group in its Global Trends Managed Fund.
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