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This provides summary measures of the socio-economic, gender, race, generational and risk-bearing divides between the receivers of uncompensated natural, social and human capital costs and the receivers of free benefits. The indices we introduce measure asymmetry in costs and benefits disaggregated by dimensions of inequality and unaccounted for in market exchanges. Inequity is commonly defined as an unfair or unjust outcome associated with an inequality 43. The true cost of food has been introduced by researchers, civil society and business groups to describe the recognition and rectification of costs that are not reflected in corporate accounting and market transactions 35, 36, 37, including externalized environmental costs 38, 39, issues around fair wages and justice 40, and inequitable exchanges of natural and social capital 19, 41, 42. This Perspective introduces quantitative inequity indices for multi-capital accounts based on the вЂtrueвЂ™ costs and benefits of activities in the food sector. Missing equity in broader accounting of benefits and costs risks a misallocation of the growing pool of funds that could enable a just transition to sustainable and health-producing food systems 33, 34. In February 2021, food and beverage company Anheuser-Busch InBev was issued a record US$10.1 billion sustainability-linked loan 30.ДЄ majority of respondents in a 2020 GRI survey indicated their trust in corporate reporting 31, implying that irrespective of the actual confluence between reports, disclosure and achieving science-based sustainability targets or the SDGs, investors are allocating capital guided by reports and ESG data 24, 32. In the same year, US$750вЂ‰billion of sustainability-linked debt was issued (growing >50%вЂ‰yr в€’1), with 3% of green bonds associated to agriculture and forestry 26, 29. In 2020, US$10 trillion in new environmental, social and governance (ESG) managed capital (growing at >30%вЂ‰yr в€’1) was added, including a 9% share of the food and agriculture sector of around US$300 billion in impact investments 24, 27, 28.

This is a problem as multi-capital corporate reporting plays an increasing role in bridging the monitoring of impacts and the allocation of sustainability-linked funds for the agri-food sector 24, 25, 26. SDG-linked reporting on human rights and inequality is increasing, but agri-food sector sustainability reports have few specific indicators of value sharing and social outcomes in the supply chain 23, have practically no spatially explicit indicators 23 and report few negative results 21. In 2020, 73% of approximately 420 agriculture, food and beverage companies in the top 100 companies by revenue in 52 countries published a sustainability report, with the Global Reporting Initiative (GRI) multi-capital accounting standard used in 66% of the reports 21.Дespite the ultimate economic costs and risks of inequity to society there are few, if any, summary measures of inequity in the accounting standards or reports 22. The costs are likely to magnify through the reinforcing effects of inequity, climate change, biodiversity loss and health impacts 15, 16.Д¬ompanies are seeking to report their impacts 17, 18, and to demonstrate pledges on the Sustainable Development Goals (SDGs) and science-based trajectories to a low-impact food system 19, 20. Economic costs include 1.3% of gross domestic product lost to developing countries from profit shifting 12 and 2% of gross domestic product through malnutrition in low-paid agricultural workers and lost productivity 13, 14. The same groups have less power to affect market correction due to corruption and their proportionately lower representation, ownership and share of profits 11, 12. Climate change and biodiversity loss 7, 8, health burdens 9 and scarcity of resources 10 are among the impacts disproportionately affecting marginalized and poorer groups. There is a large global disparity between who receives the benefits of the production, processing and retail in the global food sector, and who pays the costs. While providing livelihoods for at least a billion people 5, 66% of the 740 million people living in extreme poverty globally are agricultural workers 6. Globally, 33% of adults are obese, while 9% of the global population are hungry and many more are undernourished 4. The activities and outcomes of the global food system contribute 30% of annual anthropogenic CO 2-equivalent emissions 1, use 70% of fresh water 2 and are responsible for over 50% of nitrogen and phosphorous emissions 3.

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