Blue Marble Microinsurance, an association of eight firms aiming to improve the socio-economic environment of the underprivileged through commercially viable insurance solutions, has partnered with Nestle Nespresso SA to create a pilot crop insurance program for smallholder coffee farmers in Colombia.
The pilot project’s objective is to protect the coffee industry and enhance farmers’ welfare by addressing supply chain risk, especially as coffee crops are highly vulnerable to the ravages of climate change.
Joan Lamm-Tennant, Chief Executive Officer of Blue Marble, said; “I am delighted that Blue Marble is partnering with Nespresso.”
“Together, we are driving collaborative innovation across industry sectors, bundling insurance into the existing value chain of the underserved. I am grateful for the opportunity to learn from Nespresso given their deep understanding of the coffee farmers’ needs and their successful track record in creating shared value.”
Guillaume Le Cunff, President of NespressoUSA, added; “Nespresso is committed to improving the lives of farmers who work with us to source the highest-quality, sustainable coffee in the world.”
“Today, we are pleased to announce our partnership with Blue Marble, an organization equally committed to implementing innovative solutions that aim to mitigate risk and create value for coffee farmers.”
Nespresso, which currently works with over 70,000 coffee farmers around the world, and Blue Marble, hope the project’s launch will spread to other players in the coffee industry, providing farmers across the globe the necessary risk transfer mechanisms for long-term security.
