“Our economic system – particularly business accounting processes do not (yet) include a mechanism for recognizing the invisible value of people and nature. True Cost Accounting provides a method for including these values in business internal decision-making metrics and processes as well as reporting to financial markets. In today’s operating environment, business more than ever needs to demonstrate a purpose beyond maximizing financial value creation for shareholders. This purpose should include generating social, human, and natural capital value for all stakeholders.” — Peter Bakker, President and CEO, World Business Council for Sustainable Development “True Cost Accounting for Food provides in-depth analysis of the environ- mental, health, and social costs of food systems that are rarely captured in the price of food today. This valuable collection breaks new ground and offers important insights into how these externalities can be better accoun- ted for in ways that contribute toward positive change in food systems.” — Jennifer Clapp, Professor and Canada Research Chair, University of Waterloo “True Cost Accounting is the starting point for any serious conversation about reforming food systems. This is no coincidence: prices shall continue to lie, until social costs are incorporated and set the right incentives to guide the choices of both producers and consumers. This book provides therefore more than a state of play: it’sanessentialtoolforfutureadvocacyefforts.” — Olivier De Schutter, UN Special Rapporteur on extreme poverty and human rights and Co-chair, International Panel of Experts on Sustainable Food Systems (IPES-Food) “Those who wish to help move the world towards a sustainable planet and offer the next generation a chance to enjoy the wonders of its biodiversity and benefit from its ecosystem services should embrace the tools and lessons from this book to help transform our food systems from farm to plate.” — Braulio Dias, Associate Professor of Ecology at the University of Brasilia and Former Executive Secretary of the UN Convention on Biological Diversity “This book addresses a critically important topic: the need to open up the ‘hidden costs’ of current food systems. This compelling need is not being adequately considered by dominant policy makers or mainstream thinkers in the agriculture sector and food industry. The present volume serves to illuminate the issue from multiple perspectives and can serve to inform international negotiations on food systems, agroecology and biodiversity for more comprehensive policies.” — Mohammad Hossein Emadi, PhD, Former Ambassador and Permanent Representative of Iran to FAO, WFP and IFAD and Chair of the UN Committee on Agriculture “The vision and core tenets of the Land and Justice Party I founded in Vanuatu in 2010 are in the principles behind True Cost Accounting in Food. This book will make a significant contribution to the international discourse needed to advance a just transformation of our food system, which reaches beyond monetary dimensions to include measures of pro- gress for the social, cultural and environmental dimensions of life.” — Ralph Regenvanu, Member of Parliament and President of the Land and Justice Party, Vanuatu “Since 2012, we have been committed to advancing True Cost Accounting (TCA) as a powerful tool for food systems transformation. In that time, TCA has evolved from a radical concept to a scientifically validated approach, driving policies and practices that create and sustain healthy, equitable, and resilient food systems. With this new book in hand, governments, farmers, corporations, investors, and others, can break away from the status quo and use TCA to make better decisions about the future of food.” — Ruth Richardson, Executive Director, Global Alliance for the Future of Food “It is more than time that we rebalance the scales, making the cultiva- tion of biodiversity and the consequent health of soils, plants, and people as the organizing principle of our food systems. This book offers many perspectives on how a genuinely honest valuation of the con- tribution of people and nature can bring about such changes.” — Vandana Shiva, Navdanya International “Our food systems are not delivering the social, environment and nutritional outcomes we need to enable human prosperity. True Cost Accounting is one of the critical capabilities we need to build food sys- tems that are equitable, healthy, and sustainable. By developing this capability our policy and legislative decision makers can help create the food system we all desire and deserve. This book creates the foundation for that work and is an important firststeponthatpath.” — Dr. Roy Steiner, Senior Vice President of Food at the Rockefeller Foundation “This book is a must-read for anyone interested in how to fixourfood systems. We can only manage what we measure and this inspiring and instructive collection of examples informs how we, as a global com- munity, can advance this crucial work.” — Pavan Sukhdev, lead author of the United Nations report on TEEB (The Economics of Ecosystems & Biodiversity), CEO of GIST Impact, and President of WWF International True Cost Accounting for Food This book explains how True Cost Accounting is an effective tool that we can use to address the pervasive imbalance in our food system. Calls are coming from all quarters that the food system is broken and needs a radical transformation. A system that feeds many yet continues to create both extreme hunger and diet-related diseases, and one that has significant environ- mental impacts, is not serving the world adequately. This volume argues that True Cost Accounting in our food system can create a framework for a sys- temic shift. What sounds on the surface like a practice relegated to accountants is ultimately a call for a new lens on the valuation of food and a new rela- tionship with the food that we eat, starting with the reform of a system out of balance. From the true cost of corn, and water, to incentives for soil health, the chapters economically compare conventional and regenerative, more equitable farming practices in food system structures, including taking an unflinching look at the true cost of cheap labour. Overall, this volume points towards the potential for our food system to be more human-centred than profit-centered and one that has a more respectful relationship to the planet. It sets forth a path forward based on True Cost Accounting for food. This path seeks to fix our current food metrics, in policy and in practice, by applying a holistic lens that evaluates the actual costs and benefits of different food systems, and the impacts and dependencies between natural systems, human systems, and agriculture and food systems. This volume is essential reading for professionals and policymakers involved in developing and reforming the food system, as well as students and scholars working on food policy, food systems, and sustainability. Barbara Gemmill-Herren, until she retired in 2015, was Delivery Manager for the Major Area of Work on Ecosystem Services and Biodiversity at the UN Food and Agriculture Organization (FAO). She was previously Executive Director of Environment Liaison Centre International, an international environmental non- governmental organization based in Nairobi, Kenya. She is an Associate Faculty in the Masters of Sustainable Food Systems Program at Prescott College in Arizona, USA, and a Senior Associate of the World Agroforestry Centre, Kenya. Lauren E. Baker is Senior Director of Programs with the Global Alliance for the Future of Food, where she focuses on the intersections between food sys- tems and health, climate change, agroecology, and TCA. Previously, Lauren led the Toronto Food Policy Council and was the Founding Director of Sus- tain Ontario. Lauren teaches in the Global Food Equity program at the Uni- versity of Toronto, and at Ryerson University, Canada. Paula A. Daniels is Co-founder and Chair of the Center for Good Food Pur- chasing. She is a lawyer and public policy leader in environmental, food, and water policy and has extensive experience in government through several appointed positions, including as Senior Advisor on Food Policy to Mayor Villairagosa of Los Angeles. She has been a faculty member at UCLA, Vermont Law School, and UC Berkeley. Routledge Studies in Food, Society and the Environment Plant-Based Diets for Succulence and Sustainability Edited by Kathleen May Kevany Sustainable Food System Assessment Lessons from Global Practice Edited by Alison Blay-Palmer, Damien Conaré, Ken Meter, Amanda Di Battista and Carla Johnston Raw Veganism The Philosophy of the Human Diet Carlo Alvaro The Bioeconomy Approach Constraints and Opportunities for Sustainable Development Udaya Sekhar Nagothu Resourcing an Agroecological Urbanism Political, Transformational and Territorial Dimensions Edited by Chiara Tornaghi and Michiel Dehaene Food, Senses and the City Edited by Ferne Edwards, Roos Gerritsen and Grit Wesser True Cost Accounting for Food Balancing the Scale Edited by Barbara Gemmill-Herren, Lauren E. Baker and Paula A. Daniels Holiday Hunger in the UK Local Responses to Childhood Food Insecurity Michael A. Long, Margaret Anne Defeyter and Paul B. Stretesky For more information about this series, please visit: www.routledge.com/ books/series/RSFSE True Cost Accounting for Food Balancing the Scale Edited by Barbara Gemmill-Herren, Lauren E. Baker and Paula A. Daniels First published 2021 by Routledge 2 Park Square, Milton Park, Abingdon, Oxon OX14 4RN and by Routledge 605