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March 22, 2021, 10:56 a.m. EDT

Starbucks aims to cut water usage in the coffee supply by 2030

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By Tonya Garcia

Starbucks Corp. /zigman2/quotes/207508890/composite SBUX -0.03% said Monday that it will halve water usage in its supply chain by 2030 by taking a variety of steps, including the purchase of 600 "eco-mills" that have reduced water use by 80% in places like Guatemala and Mexico where they have been installed; and improvements to water processing machinery and technology that it already owns. By 2030, the chain also aims to reach its target for carbon-neutral green coffee by 2030. Starbucks will equip farmers with tools that will lessen the use of fertilizer; promote varietals that are climate-resistant and rust-resistant, which will allow for more coffee grown on the same amount of land; and promote and restore forests impacted by coffee farming, starting in Peru and Colombia. Starbucks stock has gained 85.9% over the past year, outpacing the S&P 500 index /zigman2/quotes/210599714/realtime SPX -1.04% which is up 70.6% over the period.

/zigman2/quotes/207508890/composite
US : U.S.: Nasdaq
$ 114.30
-0.04 -0.03%
Volume: 5.76M
May 10, 2021 4:00p
P/E Ratio
136.90
Dividend Yield
1.57%
Market Cap
$134.73 billion
Rev. per Employee
$67,371
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/zigman2/quotes/210599714/realtime
US : S&P US
4,188.43
-44.17 -1.04%
Volume: 2.32B
May 10, 2021 5:40p
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