Starbucks has announced it plans to raise $500 million to pay for its supply chain sustainability projects, including support programmes for farmers in coffee-growing regions.
The Seattle-based coffee chain said it would sell 10-year bonds to go toward those projects, joining companies such as Apple, Unilever and EDF who have made similar moves.
“Sustainability is not just an add-on, but an integral part of Starbucks, including our strategy and finances,” said Scott Maw, Chief Financial Officer.
Starbucks said it would update every year how the money is being used.
The company already operates an agronomy centre in Costa Rica along with a network of eight farmer support centres around the world, and has committed to invest $50 million in short- and long-term loans to farmers.