Nestlé unveils Nescafé Plan 2030 with $1.01bn investment

Nestlé is investing over one billion Swiss Franc ( $1.01 billion) in its Nescafé Plan 2030 to help drive regenerative agriculture, reduce greenhouse gas emissions and improve farmers’ livelihood.

The company said this in a statement by Mr Bola Audu, Corporate Communications Specialist, Nestlé Nigeria Plc, on Tuesday in Lagos.

The News Agency of Nigeria (NAN) reports that Nescafé, Nestlé’s largest coffee brand and one of the world’s favourite coffees, has outlined its extensive plan to help make coffee farming more sustainable: the Nescafé Plan 2030.

According to the statement, the brand is working with coffee farmers to help them transit to regenerative agriculture while accelerating its decade of work under the Nescafé Plan.

“The brand is investing over one billion Swiss Francs by 2030 in the Nescafé Plan 2030. This investment builds on the existing Nescafé Plan as the brand expands its sustainability work.

“It is supported by Nestlé’s regenerative agriculture financing, following the Group’s commitment to accelerate the transition to a regenerative food system and ambition to achieve zero net greenhouse gas emissions,” it said.

The statement quoted Mr David Rennie, Head of Nestlé Coffee Brands, as saying that Climate change was putting coffee-growing areas under pressure.

“Building on 10 years’ experience of the Nescafé Plan, we’re accelerating our work to help tackle climate change and address social and economic challenges in the Nescafé value chains,” Rennie said.

He added that the investment was coming in the wake of rising temperatures that would reduce the area suitable for growing coffee by up to 50 per cent by 2050.

Rennie said that about 125 million people depend on coffee for their livelihood and an estimated 80 per cent of coffee-farming families live at or below the poverty line.

“Action is needed to ensure the long-term sustainability of coffee. As the world’s leading coffee brand, Nescafé aims to have a real impact on coffee farming globally.

“We want coffee farmers to thrive as much as we want coffee to have a positive impact on the environment. Our actions can help drive change throughout the coffee industry,” Rennie said.(NAN)