Nespresso has announced a joint investment of US$6 million with the World Bank’s International Finance Corporation (IFC) in a project to help coffee farmers in East Africa to combat the effects of climate change. The investment is the latest made through the Nespresso Sustainability Innovation Fund, a vehicle to facilitate investment by Nespresso in innovative sustainability initiatives that go beyond its usual business operations. The investment includes a US$3 million grant from the Bank’s BioCarbon Fund Initiative for Sustainable Forest Landscapes – its first private sector collaboration to finance an environmental initiative by a business.
The project, part of Nespresso’s AAA Sustainable Quality programme, will work with more than 40,000 smallholder coffee farmers in several regions of Ethiopia and Kenya to provide technical and financial support to increase sustainable practices and plant trees on their land. Reforestation of this kind helps to make farms more resilient to climate change. The farmers will also receive training in agricultural best practices to help them improve their productivity and the quality of their coffee harvests.
Jean-Marc Duvoisin, CEO of Nespresso (shown here), said: “This joint initiative is a good example of how industry and the public sectors can work together to support the sustainable development of coffee farming. Improving productivity and the quality of coffee harvests is a triple win –benefiting our customers, the environment and paving the way to higher incomes for farmers.”