Issues with current food systems have been problematised through various lenses, including concerns about the dominance of intensively produced animal-source foods (ASFs) or ultra-processed foods (UPFs) in diets on health, environmental sustainability and/or justice grounds. In this commentary, we argue that there is value in adopting a more common framing and approach for these food systems issues based on the understanding that ASFs and UPFs are interlinked manifestations of financialised food systems prioritising the interests of a select few large corporations (...) and their shareholders. Firstly, we outline some of the common drivers of the proliferation of UPFs and ASFs in current food systems, including a regulatory environment that prioritises the interests of large corporations and financiers above other considerations. Based on ecological regulation theory, we then propose multi-sectoral policy options and collective actions to improve both human and planetary health. These include (but are not limited to): re-orienting agricultural subsidies toward more agroecological operations; prioritising equity-focused measures, such as a universal basic income; land use value taxes; and revitalising competition policy to address agri-food industry consolidation. Implementing the proposed actions will likely require strong coordination and advocacy from various civil society groups. We suggest that a framing centred on financialised food systems may create space for allies to mobilise and effectively draw on collective resources, including public health, food sovereignty alliances, labour unions, farmers, small-scale agri-food businesses and retailers, consumer groups, animal welfare groups, governments without vested interests, and intergovernmental organisations. (shrink)