SUSTAINABILITY INDICATORS AND CORPORATE PRACTICES IN ASSESSING THE ECONOMIC, ENVIRONMENTAL,AND SOCIAL IMPACTS OF THE FOOD INDUSTRY

Sustainability indicators serve as essential tools for evaluating the economic, environmental, and social impacts of the food industry. Traditional economic measures, such as GDP, often fall short in capturing the broader sustainability dimensions, leading to the development of alternative indicators that assess economic performance while incorporating environmental and social factors. This study explores commonly used sustainability indicators—including GDP, ISEW, GPI, ecological footprint, HPI, EPI, and SDGs—and their relevance to corporate sustainability practices in the food sector. By conducting a literature review and analyzing sustainability reports from selected food industry companies, the research examines how businesses integrate SDG-related strategies into their operations. Additionally, corporate sustainability measures such as external audits, employee training, and dedicated sustainability teams are considered in evaluating their role in fostering sustainable business models. The findings indicate that while GDP remains a dominant economic measure, it fails to account for environmental and social costs. Alternative indicators provide a more comprehensive assessment by incorporating factors such as resource depletion, pollution, and well-being. Key sustainability initiatives in the food industry reveal both progress and challenges, including high investment costs, regulatory gaps, and data collection difficulties. Addressing these issues requires a structured approach that combines regulatory policies, financial incentives, and corporate commitment to sustainability. The integration of sustainability indicators into business strategies plays a crucial role in enhancing long-term competitiveness, minimizing environmental impacts, and achieving global sustainability goals. Strengthening collaboration among industry stakeholders, policymakers, and researchers can further improve the effectiveness of sustainability initiatives within the sector.