Starbucks has allocated another £19m to its Global Farmer Fund, an enterprise offering loans to farmers to help them prepare for extreme weather and bad harvests.
The Global Farmer Fund is one of the company’s ethical sourcing initiatives that help ensure the sustainability of the specialty coffee industry.
This investment is an addition to the initial £12.5m channelled into the project in 2008. Starbucks has always been committed to fair trade; in 2015 99% of its coffee was ethically sourced.
“This new investment demonstrates how we remain steadfast in our support of farmers around the world,” said Craig Russell, executive vice president of global coffee for Starbucks.