Starbucks Allocates Funds to Innovation Farms for Climate Resilience in Coffee Production
Starbucks is investing in two farms in Central America to mitigate climate change’s impact on coffee supply. The farms will focus on researching hybrid coffee varieties and improving soil conditions. This initiative reflects the company’s ongoing commitment to sustainability amid rising coffee prices and production challenges caused by extreme weather.
Starbucks has announced significant investments in two new farms located in Central America as part of its initiative to safeguard its coffee supply against the adverse effects of climate change. The coffee giant, which purchases 3% of the global coffee supply, aims to counteract the increasing pressures on coffee production due to extreme weather conditions. The farms, one in Guatemala and another in Costa Rica, will focus on the research of hybrid coffee varieties and their performance across various elevations and soil types. This venture expands upon Starbucks’ long-standing commitment to coffee sustainability, having initially acquired its first farm in Costa Rica over a decade ago. The ongoing impacts of climate change, including rising temperatures and erratic weather patterns, have significantly disrupted coffee yields, thereby causing prices to surge for consumers. Historical data indicates that coffee prices have increased by 18% in the last five years, further underlining the urgency of Starbucks’ efforts.
Starbucks’ investment into the new farms is rooted in a pressing need to address the challenges facing the coffee industry due to climate change. The company’s strategic expansion reflects an understanding that factors such as rising global temperatures, La Niña events, and extreme weather have contributed to a substantial decline in coffee production in the regions most conducive for growing coffee, known as the Coffee Belt. The introduction of hybrid coffee plants, which promise greater productivity and disease resistance, marks a proactive approach to mitigating these challenges.
In conclusion, Starbucks’ investment in innovation farms in Central America represents a proactive measure to address the threats posed by climate change to the coffee supply chain. Through research and technology, the company aims to enhance coffee farming practices and ensure the long-term sustainability of its coffee production. This initiative underscores Starbucks’ commitment to innovation in agriculture and its dedication to supporting coffee farmers in overcoming climate-related challenges.
Original Source: www.cnbc.com
