|Asset Classes||Listed equity|
|Impact strategy||Impact Equities and Bonds|
|Bloomberg ticker||SBUX US|
|Industry group||Consumer services|
|Aligned with SDGs|
Starbucks is a global coffeehouse chain and a coffee company that roasts and retails specialty coffee in more than 33,000 retail stores operating in 83 countries. In addition, the company sells a variety of beverages and fresh food products and licenses its trademarks through other channels such as licensed stores, grocery, and national food service accounts. Starbucks, headquartered in Seattle, opened its first shop in 1971. The company got its name after the Starbuck character from Moby Dick because it evokes “the romance of the high seas and the seafaring tradition of the early coffee traders.”
Starbucks positive impact relates to sustainable coffee practices with regard to sourcing and conservation practices, and also other efforts. Together with Conservation International the company has developed the Coffee And Farmer Equity (C.A.F.E.) Practices Programme. C.A.F.E. is a verification programme that measures long-term viability both in economic and sustainability terms, from financial reporting to protecting workers’ rights and conserving water and biodiversity. It also includes a third-party verification process overseen by SCS Global Services. The programme consists of more than 200 indicators which are constantly evolving and has four main components: quality, transparency, social performance and environmental sustainability. The company makes the programme available for the entire coffee industry, as an open source program.
Starbucks conducts research and development on its coffee farm in Costa Rica where new tools and techniques are being developed to help farmers grow coffee in a more sustainable and efficient way. The company also operates 10 farmer support centres, which allow agronomists and quality experts to work alongside farmers and share information and tools to help them increase the productivity and quality of coffee. The farmer support centres also enable the company to learn more about the environmental and social issues farmers face and find the best solutions to support them. Furthermore, the company has its Global Farmer Fund Program, to help farmers in financial need.