The International Coffee Organisation (ICO) has unveiled significant outcomes for the coffee industry from the recent G7 Summit held in Fasano, Italy, from June 13 to 15.
During its 50th session, G7 members, along with representatives from the European Council and the European Commission, concentrated on pressing global issues, including climate change, economic recovery, and international relations.
Ahead of the summit, G7 ministers engaged with the Italian G7 Presidency to address these concerns, emphasizing the coffee industry‘s challenges. They advocated for a public-private partnership to promote sustainable, circular, and regenerative coffee value chains.
A key outcome of the summit was the leaders’ pledge to support multi-stakeholder programs. They committed to policies and investments aimed at mitigating climate-related disruptions in the food supply, specifically through a public-private initiative on coffee.
A detailed proposal was introduced, outlining aims to advance policy, investment, research, innovation, partnerships, and blended finance. This initiative seeks to enhance sustainability, add value, and increase the circularity of the global coffee value chain (C-GVC).
Additionally, a plan was set in motion to support smallholders and family farmers in coffee-producing nations through a dedicated global fund.
Vanúsia Nogueira, Executive Director of the ICO, highlighted the importance of this achievement and the ICO’s role in supporting these objectives.
“The ICO is committed to achieving a diversified global coffee sector and promoting economic and social development through fair value distribution in the C-GVC, enhancing income opportunities in both producing and consuming countries,” Nogueira stated.
She further emphasized, “We are proud that the ‘coffee diplomacy’ efforts of the ICO and our Coffee Private-Public Task Force have resulted in coffee being recognized as a key strategic sector by the G7 leaders. This acknowledgment demonstrates that a strong ICO amplifies the voices of farmers and empowers coffee stakeholders, bringing hope to millions worldwide.”
The ICO remains dedicated to assisting both exporting and importing countries in enhancing sustainability within the coffee sector. Building on the summit’s outcomes, the organization will continue developing proposals to drive the coffee sector towards greater sustainability.