ESG & Investing
Nestle Commits $1 Billion to Protect Coffee from Climate Threat
- Swiss company to provide Nescafe suppliers with more training
- Nestle to give cash incentives to promote sustainable farming
Nestle buys 8% to 9% of the world’s green beans.
Photographer: Inti Ocon/Getty Images
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Nestle SA, the world’s largest coffee company, will invest more than 1 billion Swiss francs ($1 billion) by 2030 to encourage farmers supplying its Nescafe brand to employ more sustainable farming methods as climate change and extreme weather threaten crops.
Nestle will offer training about the best planting techniques as well as cash incentives to motivate farmers to take actions, such as planting cover crops to protect the soil. With a sprawling network of more than 500,000 farmers sourcing beans for Nescafe, the company intends to double the number of suppliers it works with on such issues to at least 200,000.