New partnership will accelerate inclusive economic growth and support resiliency for 14,000 smallholder coffee farmers
CAMBRIDGE, Mass. and BURLINGTON, Mass. and PLANO, Texas and JAKARTA, Indonesia, Dec. 19, 2022 /PRNewswire/ -- Root Capital and Keurig Dr Pepper today announced the launch of the Indonesia Coffee Enterprise Resilience Initiative (Resilient Coffee), a collaboration with the U.S. Agency for International Development (USAID).
Coffee farming communities in Indonesia face a number of simultaneous crises, including market volatility, climate change and gender inequity. These factors and others pose critical challenges to rural communities and agricultural enterprises. Across Aceh, East Java, and North Sumatra, Resilient Coffee will support 14 coffee enterprises reaching 14,000 smallholder farmers as they promote sustainable economic growth that balances the needs of people and the planet.
USAID Indonesia Mission Director Jeffery P. Cohen said, "A lack of business management skills and access to credit impedes coffee enterprises from harnessing their full potential for growth. USAID's collaboration with Root Capital and Keurig Dr Pepper will expand public-private capacity and commitment to strengthening and increasing inclusive economic growth, as well as prioritizing investment in women's economic empowerment and building resilience against climate change."
Throughout the three-year project, businesses will build their holistic resilience through financing and training from Root Capital. Capitalizing on Keurig Dr Pepper's private sector leadership, USAID Indonesia's local expertise, and Root Capital's proven work with coffee enterprises, Resilient Coffee will build smallholder resilience by:
- Expanding access to finance for enterprises that otherwise cannot acquire lines of credit or business education opportunities;
- Strengthening gender equity by equipping women with tools for success and working with businesses to expand their gender-inclusive practices;
- Implementing new digital solutions with coffee enterprises to improve business management and resilience; and
- Deepening climate action in the coffee industry focused on mitigating climate change, protecting vulnerable ecosystems, and supporting rural communities as they adapt to already-present climate impacts.
"Root Capital has been a long-time believer in public-private partnerships to tackle the intersecting challenges facing our world," said Willy Foote, Founder and CEO of Root Capital. "We have worked with Keurig Dr Pepper and USAID on a number of exciting projects in the past, and we are particularly excited for the potential to launch this new project working directly with the USAID Indonesia mission. The USAID Indonesia team adds even more local expertise, allowing us to go even further in support of our clients in rural communities."
Keurig Dr Pepper's SVP & Chief Sustainably Officer, Monique Oxender, agrees with the approach, further adding, "Keurig Dr Pepper has a deep-rooted commitment to improve livelihoods, safeguard the future of coffee and help coffee growers build resiliency to climate and economic impacts. It is through the power of collective action and our long-standing USAID and Root Capital partners that we are able to invest in impactful and innovative solutions that help address the challenges facing smallholder coffee growers."
About Root Capital
Root Capital invests in the growth of agricultural enterprises so they can transform rural communities. These businesses purchase crops such as coffee, cocoa, or grains from smallholder farmers. With growth, they become engines of impact that can raise incomes, create jobs, empower women and young people, sustain peace, and preserve vulnerable ecosystems. We supply these businesses with vital resources: access to capital, trade and technical partners, financial training and conservation practices. We work in hard-to-serve geographies where others don't. To date, we've distributed $1.5 billion to improve the lives of nine million people in farming communities.
About Keurig Dr Pepper
Keurig Dr Pepper (KDP) is a leading beverage company in North America, with annual revenue approaching $13 billion and approximately 27,000 employees. KDP holds leadership positions in soft drinks, specialty coffee and tea, water, juice and juice drinks and mixers, and markets the #1 single serve coffee brewing system in the U.S. and Canada. The Company's portfolio of more than 125 owned, licensed and partner brands is designed to satisfy virtually any consumer need, any time, and includes Keurig®, Dr Pepper®, Green Mountain Coffee Roasters®, Canada Dry®, Snapple®, Bai®, Mott's®, CORE® and The Original Donut Shop®. Through its powerful sales and distribution network, KDP can deliver its portfolio of hot and cold beverages to nearly every point of purchase for consumers. The Company is committed to sourcing, producing and distributing its beverages responsibly through its Drink Well. Do Good. corporate responsibility platform, including efforts around circular packaging, efficient natural resource use and supply chain sustainability. For more information, visit www.keurigdrpepper.com.
SOURCE Keurig Dr Pepper Inc.