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"Sell by," "Use by," "Display until" and "Best before" food labels intended to inform consumers about food quality and safety frequently come under fire for their lack of clarity and confusing terminology that contributes significantly to the colossal food waste problem - one that costs families up to $29 billion annually in the United States alone. However, little concrete action has been taken to address the problem. Now, the Consumer Goods Forum (CGF) - a network of 400 of the biggest consumer goods companies across 70 countries - along with Champions 12.3 has approved a Call to Action to standardize food date labels worldwide by 2020.

A new report by WRI and Waste & Resources Action Programme found that, on average, for every $1 a company invested in food loss and waste reduction-through training programs, providing equipment like scales to quantify food, and improving storage and packaging-they received a $14 return on investment.