A group of more than 20 major investors have urged the government to push ahead with the introduction of targets for the healthiness of major food companies’ product portfolios.
The investor group – including members of ShareAction’s Long-term Investors in people’s Health coalition and the Food Foundation’s Investor Coalition for Food Policy – issued a statement today calling on ministers to prescribe “robust metrics” for companies’ obligatory reporting and targets.
It said the reporting and targets should be based on the plans drawn up by the Food Data Transparency Partnership (FDTP) last year.
The Grocer revealed in February 2024 that plans including reporting on the percentage of sales made up of HFSS foods, fruit & veg, and protein types (animal and plant) had been approved by supermarkets including Tesco, Sainsbury’s and Morrisons, and suppliers such as Nestlé, Mars and General Mills.
However, the health group of the FDTP has since been wound up. Its work has been swallowed up by the DHSC under Wes Streeting’s 10-year-plan for the NHS.
In July, Streeting promised mandatory healthy food sales reporting would be introduced for all large companies in the food sector by the end of the Parliament in a “world first” on public heath, with targets to follow.
However, the plan to prescribe targets on health is facing strong opposition from the industry, which has warned the government it could take many years before there is a level playing field of data able to be used across different sectors.
ShareAction and the Food Foundation said investors were calling for the government’s policy to cover all large food companies including food manufacturers, retailers, and the out-of-home sector, to ensure it meaningfully tackled the wider public health challenges facing the UK and to ensure it is adequately enforced.
Investors behind he statement include BNP Paribas Asset Management, Greenbank Investments, Greater Manchester Pension Fund, West Yorkshire Pension Fund and Nest.
“Transparency and ambitious targets are fundamental to shifting the food system to make healthier diets more accessible, which in turn will help make our economy healthier,” said Garance Boullenger, healthy markets initiative Lead at ShareAction.
“Voluntary action alone is failing to deliver the change we need. Mandatory reporting and target-setting will level the playing field and give investors the data they need, driving healthier choices for everyone.”
Sarah Buszard, responsible investor lead at the Food Foundation, added: “Mandatory reporting for all large food businesses could be a game-changer for the UK’s health. This simple act of transparency unlocks system change. If done correctly, it is an opportunity to stop businesses bombarding us with unhealthy options and means investors will have the information needed to make decisions that benefit both citizens and shareholders.
“We hope government takes the steps needed to ensure this is a watershed moment in creating a level playing field for businesses and building the foundations for a food industry that promotes health and sustainability.”
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