There’s an international effort underway to streamline food labels, especially for perishable foods. Should it be a sell by date, a use by date, a display unit? And it’s not just the U.S. concerned about this, about 400 of the biggest consumer goods companies are involved in 70 countries.

FOX’s Lisa Brady speaks with Ignacio Gavilan, of The Consumer Goods Forum, about the best ways to go about the amount of food being wasted around the world. “Food waste is a challenge of epic proportions,” Gavilan says.

Listen to the interview below: