Starbucks to double purchases of fair trade certified coffee to 40 million pounds in 2009
(Associated Press) – Coffee retailer Starbucks Corp. said Tuesday it will double its purchases of fair trade certified coffee to 40 million pounds in 2009.
The move is part of the company’s “Shared Planet” initiative to do business “responsibly,” the company has said, by focusing on areas such as volunteerism and going greener, including using recyclable cups and reducing water usage.
The company will also work with TransFair USA, which certifies fair trade products, and the Fairtrade Labelling Organizations International, an association of fair trade organizations, to improve environmental and agricultural practices.
Fair trade certified products are made according to a set of rules that mandate the payment of a fair price and maintaining social and environmental standards.
Starbucks shares rose 6 cents to $9.65 in morning trading.