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Starbucks has secured a $1 billion sustainability bond — its largest of three to date — to support ethically sourced coffee. This includes purchasing coffee verified by Coffee and Farmer Equity Practices, developing and operating farmer support centers, research and development and loans to support coffee farmers, according to a press release.
The coffee chain also partnered with lending organization, responsAbility, on a $20 million investment to support coffee communities in Latin America, Africa and Asia. The financing will be used to replace older trees with new, more productive trees, acquire new equipment and more.
The 30-year bond will also go toward Starbucks’ development of LEED-certified stores and investments in more sustainable cups and packaging.