Phuc Sinh Corp., a leading coffee and pepper producer based in Ho Chi Minh City, has secured a significant loan of over $25 million from the &Green Fund, an ESG-focused investment fund managed by SAIL Investments and based in the Netherlands. This marks a milestone as Phuc Sinh becomes the first Vietnamese company to receive direct support from the &Green Fund.
The loan will be used to ensure deforestation-free coffee supply chains, a critical step in aligning with global sustainability standards. Phuc Sinh, which also exports chilies, cashew nuts, cassia, and other agricultural products, is committed to enhancing product quality while ensuring that its production processes contribute to environmental protection and community support. The company emphasised its dedication to sustainable practices in an emailed statement, highlighting the significance of this investment in bolstering its green initiatives.
Founded in 2017, the &Green Fund is dedicated to investing in agricultural enterprises that meet environmental, social, and governance (ESG) standards. Its mission is to promote green economic development, environmental protection, and climate change mitigation. The fund is actively investing in ten jurisdictions, including Vietnam, where the demand for sustainable practices is growing.
Vietnamese businesses are under increasing pressure to adopt ESG practices as global investors prioritise not only profitability but also sustainability. Vietnam itself has set an ambitious goal to achieve net-zero carbon emissions by 2050, a target that requires substantial investment and commitment from both the public and private sectors. The $25 million loan to Phuc Sinh is a step forward in this direction, demonstrating the company’s role in contributing to Vietnam’s broader sustainability goals.
Phuc Sinh is a prominent exporter, with markets in the United States, Europe, and Australia. It is recognized as the top pepper exporter in Southeast Asia, further solidifying its position as a leader in the region’s agricultural sector. The company’s focus on sustainable supply chains aligns with global trends, as consumers and investors alike demand greater transparency and responsibility from businesses. This investment follows &Green’s $20 million investment in Mercon B.V., a Netherlands-based company, in late 2022, which was also aimed at promoting a sustainable coffee supply chain in Vietnam. As Phuc Sinh continues to expand its operations, the company’s commitment to sustainability will likely set a precedent for other businesses in the region, paving the way for a greener future in Vietnamese agriculture.
