International Coffee Organization announces results of G7 Coffee Industry Summit

The International Coffee Organization (ICO) announced the results of the G7 Coffee Industry Summit, held in Fasano, Italy from June 13-15.

At his 50th birthday^th During this session, G7 members met with representatives of the European Council and the European Commission (EU), to focus on crucial global issues such as climate change, economic recovery and international relations.

Ahead of the event, G7 ministers met with the Italian G7 Presidency to discuss these issues, recognizing the challenges facing the coffee industry, and advocated for a public-private partnership initiative to promote sustainable, circular and regenerative coffee value chains.

Committing to support multi-stakeholder agendas, the key outcome of the summit was leaders’ commitment to policies and investments to address climate-related food supply disruptions within the sector, including a public-private coffee initiative.

A proposal has also been drawn up highlighting detailed objectives to advance policy, investment, research, innovation, partnerships and blended finance in order to ultimately boost sustainability, added value and the circularity of the global coffee value chain (C-CVM).

A plan to support smallholders and family farmers in coffee-producing countries through a dedicated global fund was also implemented.

Recognizing the importance of this milestone, Vanúsia Nogueira, Executive Director of the ICO, highlights the ICO’s commitment in supporting the achievement of these goals.

“The ICO is committed to achieving a diversified global coffee sector and economic and social development through a healthy distribution of value in the C-GVC and improving income opportunities in producing and consuming countries,” did he declare.

“We are proud that the ‘coffee diplomacy’ efforts of the ICO and our private-public coffee working group have resulted in coffee being recognized as a key strategic sector by G7 leaders. This is proof that a strong ICO amplifies farmers’ voices and empowers coffee stakeholders, bringing hope to millions around the world.

Dedicated to helping exporting and importing countries improve the sustainability of the coffee sector, the ICO will continue to build on the outcomes of the Summit and work towards developing a proposal that helps mobilize the coffee sector towards durability.

For more details on the ideas and outcomes of the summit, a pdf document is available for download here.