Norges Bank Investment Management and UNICEF have published a new guidance framework for the food industry on how companies can respect children's rights and contribute to healthy food environments.
The guidance framework is the result of a two-year network collaboration with global food retailers led by Norges Bank Investment Management in partnership with UNICEF.
The document contains a range of measures that food retailers can implement to reduce risks and promote healthy choices for children and youth, in addition to indicators that can enhance companies' reporting on their efforts. It covers areas such as corporate strategy, product development and marketing, as well as accessibility and product placement. It also includes several examples of existing good and leading practices.
As a global financial investor, health and nutrition are topics that affect the companies in which we invest, and the companies also impact the society around them. Globally, overweight and obesity rates are increasing, posing a threat to children's right to a healthy life. Companies are also exposed to risks related to changing regulations and potential shifts in consumer demand among consumers looking for healthier options.
In this context, food retailers play an important role. By creating healthy food environments, the food industry can influence not only children but also caregivers and have an impact on the types of food children consume. However, there is limited international guidance and information on the measures the food industry can take to effectively support children's rights to healthy food environments.
"We expect companies we invest in to respect children's rights. We hope this guidance will inspire and motivate food retailers with concrete suggestions on what they can do to reduce negative impact on children's health and nutrition and have a positive impact," says Carine Smith Ihenacho, Chief Governance and Compliance Officer.
The network collaboration behind the guidance tool has involved several major food retailers, as well as researchers from Deakin University and other academics, experts, and civil society organizations. Through a series of workshops, the network participants have exchanged experiences and discussed challenges and opportunities to strengthen practices. Read more in the network report.
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