A new global standard for measuring food loss and waste will help countries and companies step up efforts to store, transport and consume food more efficiently. Around one-third of all food, by weight, is spoiled or thrown away worldwide costing, the U.N. Food and Agriculture Organization (FAO) has estimated. The standard is aimed at reducing food waste through measuring and managing it. The effort hopes to channel more food to the roughly 800 million people who are undernourished around the world and cut emissions from food production, which account for about eight percent greenhouse gases.