Vietnamese coffee and pepper producer Phuc Sinh Corp. will receive up to $25 million in funding from SAIL Investments’ Netherlands-based &Green Fund. Based in Ho Chi Minh City, Phuc Sinh Corp., which also exports chilies, cashew nuts, and cassia, is the first Vietnamese company to receive direct support from this environmentally-focused foundation. The funds will be used to ensure deforestation-free coffee supply chains.
“We are committed not only to improving product quality but also to ensuring that Phuc Sinh’s production process contributes to environmental protection and community support,” the company said in a press statement.
Founded in 2017, &Green invests in agricultural enterprises that meet ESG standards to foster green economic development, environmental protection, and climate change mitigation. The fund operates in ten countries, including Vietnam.
Vietnamese businesses face increasing pressure to adopt ESG practices as global investors demand both profitability and sustainability. The country has set a goal to achieve net-zero carbon emissions by 2050.
Phuc Sinh exports to markets such as the US, Europe, and Australia and is Vietnam’s leading pepper exporter, holding an 8% share of the global market. &Green previously invested $20 million in Netherlands-based Mercon B.V. in late 2022 to advance a sustainable coffee supply chain in Vietnam.