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Alternative Products in Food & Beverage

Standard-Setting
Last Update 06/15/21

The objective of this project is to evaluate adding a new disclosure topic and associated metrics related to alternative product strategy for the Food Retailers & Distributors and Meat, Poultry & Dairy Standards.

Sector

Food & Beverage

Issues

Business Model & Innovation

Project Status

Initial Research

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Project Overview

Project Objective

The objective of this project is to evaluate adding a new disclosure topic and associated metrics related to alternative product strategy for the Food Retailers & Distributors and Meat, Poultry & Dairy Standards.

Project Background

Based on the research conducted during the Alternative Meat & Dairy research project, the Board approved a separate standard-setting project in the Food Retailers & Distributors and Meat, Poultry & Dairy industries. Evidence from the research project indicates consumers are changing their diets and consumption habits to more environmentally friendly products. As such, protein producers and food retailers are adjusting business models in response to this changing consumer demand. The Food Retailers & Distributors Standard and the Meat, Poultry & Dairy Standard do not include a disclosure topic on how a company manages its product portfolio to address customer demand for more sustainable products. This project has an associated research project.

Project Status

  • Phase 1 - Initial Research
  • Phase 2 - Stakeholder Consultation
  • Phase 3 - Post-Consultation Analysis
  • Phase 4 - Exposure Draft Development
  • Phase 5 - Public Comment Period
  • Phase 6 - Public Comment Analysis
  • Phase 7 - Completed

Current Status

The objective of this phase is to conduct initial research and develop stakeholder consultation objectives

Next Steps

 Stakeholder consultations where the project lead will gather input from both companies and investors.


Published Documents & Supplemental Materials

Published Documents

There are no published documents or drafts at this time.

Supplemental Materials


Board Materials & Decisions

Board Meeting Outcomes

May 2021

  • Staff presented key research and consultation findings from the Alternative Meat & Dairy research project, which included a staff recommendation to initiate a standard-setting project.
  • The Board unanimously agreed to initiate the standard-setting project recommended by staff: Alternative Products in Food & Beverage. The project scope includes the consideration of new or revised disclosure topics and metrics to address alternative products in the Meat, Poultry & Dairy industry and the Food Retailers & Distributors industry.
  • The Board agreed to exclude the Restaurants and Non-Alcoholic Beverages industries from the scope of the standard-setting project. The Board discussed considerations and trade-offs related to whether the Processed Foods industry should be within the scope of the standard-setting project. The discussion centered on challenges related to the prevalence of alternative products in the industry and the feasibility of developing improvements to the existing Standard. The Board ultimately agreed to exclude the Processed Foods industry from the scope of standard setting, but encouraged a resolution to the ongoing research project in a timely manner, given that the sole outstanding question pertains to whether standard setting should be pursued in the Processed Foods industry.

Board Materials

For a full list of past and upcoming Standards Board meetings, as well as associated materials, please visit our Board Meetings Calendar & Archive.


The staff has prepared this summary for informational purposes only. Any Standards Board decisions are tentative and do not change current accounting. Official positions of SASB are determined only after extensive due process and deliberations.