Nestle SA to Spend US$1.01 Bln for Sustainable Agriculture

By Editorial Team 06/10/2022
land bank
Summary

Swiss company Nestle SA is investing 1 billion Swiss Francs, or about US$1.01 billion, for sustainable agriculture, particularly coffee plantations. In a statement issued on its website on Oct 4, Nestle planned to disburse the funds up until 2030. "Agricultural land for coffee could go down by up to 50 percent by 2050," Nestle said in a statement.

The funds allow Nestle to establish a support program for farmers supplying Nescafé brand coffee to implement sustainable agriculture practices. The program also includes technical assistance for the selection of varieties that are resistant to climate change to the use of biofertilizers. Nestle targets 20 percent of the coffee supply from regenerative agriculture practices by 2025 and 50 percent by 2030.

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