- Food processing giant Nestle ADR NSRGY coffee brand Nescafé has unveiled the Nescafé Plan 2030 for sustainable practices in coffee farming.
- The brand will invest more than ~$1 billion by 2030.
- The plan is expected to accelerate the transition to a regenerative food system and help achieve zero greenhouse gas emissions.
- Nescafé will provide farmers with training, technical assistance, and high-yielding coffee plantlets to help them transition to regenerative coffee farming practices.
- Some examples of regenerative agriculture practices include planting cover crops that help protect the soil, incorporating organic fertilizers, and increasing agroforestry and intercropping.
- Nescafé aims to achieve 100% responsibly sourced coffee by 2025, 20% of coffee sourced from regenerative agricultural methods by 2025, and 50% by 2030.
- Price Action: NSRGY shares closed lower by 0.10% at $107.50 on Monday.
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.