Starbucks Outlines Eco-Friendly Initiatives, Including $50 Million Investment in Coffee Farmers

By Stephen Nakrosis

Starbucks Corp. on Wednesday said the company would be making new investments in eco-friendly operations, regenerative agricultural practices and environmentally friendly menus.

The company's chief executive, Kevin Johnson, said, "We are a purpose-driven company with a mission grounded in the human experience as we seek to have a positive impact on both people and the planet, while profitably growing our business."

Among its new initiatives, the company said, were plans to support the Net Zero Initiative, "a partnership with the U.S. dairy industry to achieve net-zero greenhouse gas emissions improvements in water quality on farms."

Starbucks also said it signed its first supply chain Virtual Power Purchase Agreement with a solar farm in Virginia and intends to offset 50% of company-operated roasting and beverage production sites and electricity consumption in the U.S. by 2022.

Starbucks also said Wednesday it made a $50 million investment in the Global Farmer Fund, which gives coffee farmers access to capital to make their farms even more productive and sustainable.

The company also announced the rollout of oatmilk nationwide in the U.S.

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

December 09, 2020 17:16 ET (22:16 GMT)

Starbucks (NASDAQ:SBUX)
Historical Stock Chart
From Mar 2024 to Apr 2024