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WBCSD Virtual Meeting - Creating Value, Mitigating Risk and Tackling Food System Externalities - Shared screen with speaker view
John Byrd
43:30
Will there be a recording? I have to leave at 9:00 so will miss the last part of the session.
Matthew Watkins
44:24
Hi John- yes the session will be recorded and mailed out to everyone that has registered.
John Byrd
44:35
Thanks so much.
Matthew Watkins
54:01
Reminder to all: Please leave any questions to presenters here in the chat, we can answer these in Q&A at the end of the presentations- thanks!
iPhone
58:14
Víctor Aguilera from BCSD Ecuador
Bernhard Stormyr
59:58
On 'Hidden Costs' of food system; I find that in particular farmer constituencies respond very negatively when faced with them adding more negative than positive value to society. How can we frame the externalities so that we bring farmers on board, rather than risking alienating them?
hansrherren
01:00:09
Thanks for this talk Scarlett, I would suggest that we do already very well in which direction the food system should be going. As the co-chair of the most detailed assessment of ag and food system some 11 years ago, the IAASTD, we did then, and of new the IP{ES Food reports, detailed that the way forward for thew food system, Agroecology. So lets not reinvent the wheel, lets start from what we already know…I am afraid that I do not see people involved in these processes in your list, and it would be good to engage with additional people that have elaborated the details of Agroecology so far, and work from that platform, which already includes FAO, BTW.
Scarlett Benson
01:08:32
Thank you Hans. Absolutely agree with not reinventing the wheel. My email is scarlett.benson@systemiq.earth and would be very keen to ensure that the right people are on board with the FSE Commission. The current list of commissioners includes: Vera Songwe (United Nations Economic Commission for Africa); Ravi Kanbur (Cornell University), Ottmar Edenhofer (PIK); Naoko Ishii (University of Tokyo); Fan Shenggen (China Agricultural University); Wanjira Mathai (WRI); Ashkan Afshin (IHME- Institute for Health Metrics and Evaluation); Herman Lotze-Campen (PIK); Johan Swinnen (IFPRI); Maximo Torrero (FAO); Gretchen Daily (Stanford University); Juergen Voegele (World Bank); Simon Dietz (LSE); Rachel Nugent (University of Washington); Jennifer Clapp (University of Waterloo); Paul Winters, (IFAD); Barbara Harriss-White (University of Oxford); Jess Fanzo (Johns Hopkins University); Nicholas Stern (LSE); Stella Nordhagen (GAIN)
hansrherren
01:09:28
On the global risks, yes good table, so what has happened since 2009? The problem in food and agriculture is that short term profits have had the upper hand over the long term consequences, which many others have noted and tried to attract the attention of decision makers and the private sector. SO what will change, what will be different? How will you change the profit oriented Business world, to bring some measure into the profit at all price? If anything’s we see now that its the people that will have to pay top again, while the Business leaders will rest on their accumulated income……The problem is the growing inequity in this world
Tim Crosby
01:13:49
Can Rodney provide a definition of efficiency as it relates to inefficient production practices?
Scarlett Benson
01:13:56
Is there a reason that climate change doesn't appear on this page?
Matthew Watkins
01:17:02
Hi Scarlett- climate change was picked up as important to many/all of the businesses that KPMG interviewed. Here it is embodied in extreme weather, land degradation and a number of other categories where climate change impacts are realized.
hansrherren
01:17:11
Re Rodney’s talk…….Insight 1. This is really that have already given thought to these problems…We have developed set pf practices under the heading of Agroecology, which show that they address all the concerns, in the three dimensions of sustainable development. Why do you want to reinvent the wheel again, in stead of joining the group that has been showing the way ahead, and this includes many very successful businesses in organic agriculture, Agroecology, which address all the resilience issues ….
hansrherren
01:18:56
If you weight toi reduce risk, then diversify… bring back people onto the land, they know how to\o observe, and act…..we do need farmers, even if we do have technology, which we also need….
John Byrd
01:20:02
Was there an earlier webinar in which Ravi shared the OLAM model?
Matthew Watkins
01:21:45
Hi John, the webinar is repeated twice today. Ravi spoke this morning and will talk again shortly.
Rodney Irwin
01:23:46
@hansrherren, thanks for the question. Over the past 10 years we have continued to focus on impact x likelihood which means we used judgement to determine risks. Risk Management tends to have a 1 - 3 year outlook and therefore probability results in risks being rated as low likelihood within the time frame under review and therefore not prioritised for management. The current crisis confirms we need to move away from probability as many ESG risks are considered to have a long lead time and move to a view of vulnerability. See chapter 3.b of the Guidance for other examples and cases. KPMG's methodology is one such option.
Matthew Watkins
01:25:55
Hi Hans- Thanks for the comments on agroecology. Indeed principles of agroecology could provide some great solutions. In order to operationalize any food system change, we need to influence business decision-making processes including risk management and accounting- which is what we shall focus on in the webinar today.
Rodney Irwin
01:27:10
@Scarlett, climate change is not a risk it is a reality. The effects of climate change are however captured. If companies are still predicting if climate change will happen then Oh Dear! At WBCSD we refer to the Climate Emergency and the risks of water and adverse weather impacts are related to climate change and are the real risks of climate change.
hansrherren
01:29:20
Thanks Matthew, well noted, just hope that risk management development work will include Agroecology experts
Rodney Irwin
01:30:45
@tim It's defined in the DRA report as: Current production practices not using or sustaining finite resources optimally when the technology to do so exists. This adversely impacts yields, cost and supply. Please see page 23 of report you can find here https://docs.wbcsd.org/2020/01/WBCSD_An_enhanced_assessment_of_risks_impacting_the_Food_and_agriculture_sector.pdf
Rodney Irwin
01:34:09
@hans, the DRA work as an illustration of how to change risk management processes and was designed to be an exhaustive list of risks in the sector. The process for KPMG's Dynamic Risk Assessment methodology requires a minimum number of participants with a wide variety of backgrounds who have experienced several business cycles (up and down turns) and who are open about the business and its environment. For more information on this product I would refer you to https://home.kpmg/xx/en/home/services/audit/dynamic-risk-assessment.html
Tim Crosby
01:35:45
Thank you, Rodney.
hansrherren
01:39:03
Thanks Rodney, will check the weblink
hansrherren
01:56:33
Thanks Jamie, yes, to internalize externalities will be a game changer..actually I believe that its the only way to get the needed changes in the food system implemented. This however will only work out if we change the basics of the present economic system, deal with the inequality, as costs oof food will increase, while the social and environmental costs will decrease, over time. The key is to manage the process. I am very concerned that the planned FFS will be more of the same, given who is and not yet involved, and leading the process. What we need has been outlined before, non the SDGs for example, so why, given that we do know what to do, where and when and who, is it not happening. Give a look at the IPES food report, from Uniformity to Diversity, and the blockages identified in the system, which remain in place, and some actors are the leaders on the FSS…….someone quoted Einsten earlier…yes if we don’t change direction, we will end up in the same place….same goes for if we don’t change leadership
hansrherren
01:57:41
…we will also end ups in the same place…If this is supposed toi be a solutions summit, why then are key practices not mentioned and put up front? Again thinking of Agroecology.
Bernhard Stormyr
02:01:21
Thanks for a very rich session!
Rodney Irwin
02:01:24
Whoops I missed an important word "NOT" so for completeness I retype with the right answer "the DRA work as an illustration of how to change risk management processes and was NOT designed to be an exhaustive list of risks in the sector. The process for KPMG's Dynamic Risk Assessment methodology requires a minimum number of participants with a wide variety of backgrounds who have experienced several business cycles (up and down turns) and who are open about the business and its environment. For more information on this product I would refer you to https://home.kpmg/xx/en/home/services/audit/dynamic-risk-assessment.html"