Swiss premium coffee pod maker becomes a founding participant of the Partnership for Central America, a public-private initiative to boost economic development across Central American countries
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Coffee being packed for Nespresso pods. Nespresso has pledged to spend a minimum $150m on coffee purchasing and support in Central America by 2025 | Photo credit: Nespresso
Nespresso has joined forces with companies and organisations, including Mastercard, Microsoft, and the World Economic Forum, to foster greater economic prosperity in Central American countries.
As part of the Partnership for Central America, Nespresso said it would begin sourcing coffees from El Salvador and Honduras from 2021. The company has also committed to spending a minimum $150m across coffee purchases, price premiums, and technical assistance by 2025, while more than doubling the number of coffee farms it works with and total coffee volumes.
The Partnership for Central America was established in response to the
Call To Action initiative spearheaded by US Vice President Kamala Harris. Announced in May 2021, Call To Action encourages businesses and NGOs to address the root causes of migration from the Northern Triangle region by promoting economic opportunities and sustainable business practices across El Salvador, Guatemala, Honduras, and also Mexico.
“We are delighted and proud to answer Vice President Harris’ call to action, by being a founding participant of the Partnership for Central America,” said Guillaume Le Cunff, CEO of Nespresso. “We strongly believe in the power of private-public partnerships to develop relevant projects to foster economic and inclusive growth for communities and to preserve local ecosystems.
“The private and social sectors can draw on their unique resources and expertise to make commitments to support inclusive economic growth in the Northern Triangle,” commented US Vice President Kamala Harris on the new initiative. “Together, we can work to overcome obstacles to investment, promote economic opportunity, and support long-term development in the region.”
Like many retail coffee brands, Nespresso has emerged from Covid-19 in a strong position amid a sharp increase in at-home coffee consumption globally. In 2020 Nespresso sales reached CHF5.9bn ($6.6bn), with organic growth of 7% – the highest in six years – according to parent company Nestlé, with North America becoming the premium coffee capsule brand’s largest market.