Dow Jones Newswires: Nestle to invest $1.01 billion on responsible coffee farming

United States

Nestle SA plans to invest over 1 billion Swiss francs ($ 1.01 billion) to help make coffee farming more sustainable.

The Swiss packaged-foods giant NESN, +0.36% NSRGY, -0.10% said Tuesday that it has launched the NESCAFE Plan 2030 under its largest coffee brand to support its goal of having 100% responsibly-sourced coffee by 2025 and half of the coffee it grows sourced from regenerative agricultural methods by 2030.

As part of the plan, the company will provide farmers with training, technical assistance, and high-yielding coffee plantlets to help them transition to regenerative coffee farming practices, Nestle said. It added it will also work with coffee farmers to test and assess agriculture practices that restore the soil biodiversity. It said it will focus on Brazil, Vietnam, Mexico, Colombia, Ivory Coast, Indonesia, and Honduras, the countries where the brand sources 90% of its coffee.

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