How can the hidden costs and benefits of agrifood systems be effectively incorporated into decision-making for transformation?
Agrifood systems have numerous hidden costs and benefits that impact social, environmental, and economic aspects. Incorporating these into decision-making involves several strategies:
Life Cycle Assessment (LCA): This method evaluates the environmental impacts of a product or system throughout its life cycle. It assesses inputs, outputs, and environmental impacts, aiding in understanding hidden costs like carbon emissions, water usage, etc.
Cost-Benefit Analysis (CBA): CBA assesses the monetary and non-monetary costs and benefits associated with agrifood systems. It helps in quantifying impacts that might not be immediately apparent, such as ecosystem services, health implications, or social welfare.
Transparency and Stakeholder Engagement: Encouraging transparency in the supply chain and engaging stakeholders—farmers, consumers, policymakers, and NGOs—helps identify and understand hidden costs and benefits better.
Policy Integration: Creating policies that internalize externalities—like imposing taxes on pollution or incentivizing sustainable practices—can better reflect the hidden costs and benefits within agrifood systems.
By integrating these approaches, decision-makers can have a more comprehensive understanding of the hidden complexities within agrifood systems, allowing for more informed and sustainable transformations
Mr. Benjamin D.B. Barkollie, Jr