At the World Economics Forum being held this week in Davos, Switzerland business leaders have committed to halving the amount of food wasted between farm and fork by the end of the next decade.

According to UN Food and Agriculture Organisation estimates, between on third and a half of all food produced worldwide goes to waste before it can be eaten. The United Nations has warned that lost and wasted food accounts for about one quarter of all water used by agriculture, requires cropland area the size of China, and generates about 8 percent of global greenhouse gas emissions. The new initiative, backed by the World Resources Institute (WRI) and chaired by the CEO of British supermarket behemoth Tesco aims to half the amount currently going to waste by 2030.

Called Champions 12.3 (after one of the UN’s Sustainable Development Goals), the new campaign is being led by 30 leaders from the UN, national governments and the business world. It was formed following calls from the Dutch government, after a food waste conference was held in the Hague in June 2015.

The Champions include the EU health commissioner and representatives of Oxfam as well as execs from Nestle, Unilever and Rabobank. In a statement released on Thursday, the Champions said they are committed to “inspiring ambition, mobilizing action, and accelerating progress” on food waste. They said reducing waste and avoidable losses of food can be a ‘triple win’ - making or saving money for farmers, businesses and households, tackling hunger and alleviating pressure on climate, water, and land resources.

The Champions 12.3 launch coincides with another drive, called Yieldwise and launched by the Rockefeller Foundation, which is aimed at reducing post-harvest losses in Sub-Saharan Africa.

High-profile campaigners have drawn attention to the issue of food waste from both business and households in recent years (including drawing attention to the rejection of huge proportions of fruit and veg produced by growers in the UK and abroad on cosmetic grounds), and in Europe many large retailers have committed themselves to tackling the huge amounts of waste the supermarket model engenders. However, not everyone is convinced by the solutions proposed by business leaders.

In France, where new laws aimed at tackling both waste and poverty mean companies are legally obliged to partner with charities to redistribute unsold food, protest groups have warned that moves such as this could pass the problems associated with overproduction and the supermarket model onto other groups (making charities responsible for shifting large volumes of surplus food), or give the false impression that there is a ‘magic bullet’ solution to the food waste issue.

Commenting on the launch on Thursday, Tesco CEO and Champions 12.3 chair Dave Lewis said, “Reducing food loss and waste is a significant global challenge and it’s very important that business plays its part. At Tesco, we’re committed to tackling food waste not only in our own operations but also through strong and effective partnerships with our suppliers and by helping our customers reduce waste and save money. This is an opportunity for businesses to work together and make a real difference.”

Dr. Hans Hoogeveen,  the Netherlands’ Vice-Minister for Agriculture, added, ”Worldwide, food loss and waste impedes food security and fuels climate change. For advancing the agreed 2030 Agenda for Sustainable Development this issue must be tackled today. Through their leadership the Champions 12.3 will be able to connect these challenges, by forming smart alliances, bringing together leaders from private sector, local communities, famers, science and government."