This is the fund's first investment in a Vietnamese enterprise, showing a positive signal for Vietnam's agriculture sector in attracting sustainable investments from international financial markets.
Through this partnership, the Dutch investment fund will provide financing for Phuc Sinh to promote agricultural transformation towards a sustainable coffee value chain without deforestation.
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The & Green Fund provides US$25 million in funding to Phuc Sinh Corporation to develop a deforestation-free coffee value chain. |
Addressing the ceremony to announce the information on August 15, Phan Minh Thong, Chairman of the Board of Directors of the Phuc Sinh Corp, said this investment is a significant step forward in Phuc Sinh's sustainable development strategy.
The company is committed to improving the quality of its products and also ensuring that the production process contributes to environmental protection and community support, he said, noting that the collaboration will help Phuc Sinh advance to sustainable development, thus providing long-term value for both the company and the society.
With the long-term investment and support from the fund, Phuc Sinh pledges to speed up the transformation of Vietnam's coffee industry towards traceable and deforestation-free supply chains, focusing on improving the quality and value of Vietnamese coffee and promoting sustainably-produced products on a global scale.
By applying responsible agricultural practices, Phuc Sinh aims to set a standard for the sector, contributing to protecting the ecosystem and promoting sustainable economic development in Vietnam
Operated by SAIL Investments, a global sustainable investment manager with its headquarters in the Netherlands, The & Green Fund invests in companies worldwide that can demonstrate separating commodity production from deforestation, and protecting biodiversity while ensuring social inclusiveness. The fund targets industries that lead to deforestation, such as palm oil, soybean, animal protein, and forestry.
By the end of 2023, the fund's portfolio has contributed to protecting 3.1 million hectares of forests and reducing 13.2 million tCO2-e (carbon credits).
Source: VNA