A recent report on food waste in New Zealand was recently released.
Some countries regulate this. Korea, for instance, charges its citizens and manufacturers for food waste, much as we currently do for general household waste. A quick back-of-an-envelope calculation:
An average household in New Zealand spends $300 per week on food.
There are 2 million households in the country
That's $31.2 billion spent on food each year
Going with the report's stated 40% waste and assuming just 10% of the value of that waste was taxed, it would amount to over NZ$1.2 billion per year in tax revenue.
A food waste tax would not only serves as a financial incentive for individuals and businesses to minimize food waste but also encourage them to adopt sustainable practices in food production, distribution, and consumption.
Through this initiative, Korea sets an example for other nations to follow in addressing the global issue of food waste. By integrating food waste management into its waste disposal infrastructure and charging fees accordingly, Korea not only manages its waste more effectively but also promotes a cultural shift towards more sustainable practices. This proactive stance towards food waste reflects Korea's forward-thinking approach to environmental stewardship and sets a benchmark for others to emulate in the quest for a greener, more sustainable future.
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