USAID Green Invest Asia Quarterly Progress Report January 1- March 31, 2023

The investments were secured from Lestari Capital, Louis Dreyfus Company, and Atlantic Commodities Vietnam, bringing the total finance mobilized to date to $446 million, more than double the Life of Award target of $200 million. These investments will support the management of almost 70,000 hectares of land, including forest conservation of almost 14,000 hectares in Indonesia, and more than 2 million tons of CO2e sequestered through practices such as regenerative agriculture on coffee farms across Vietnam and Indonesia. The Activity also reported the environmental calculations from the 2022 investment in sustainable cocoa production and forest conservation in Kennemer Philippines, with an estimated 20 million metric tons of CO2e reduced over approximately 280,000 hectares of forest and cacao agroforestry. The Activity continued technical assistance for an industry-led carbon footprinting collaboration for Robusta coffee production in two key origins: Central Highlands, Vietnam, and southern Sumatra, Indonesia. With co-funding from Nestlé, JDE Peet's, Lavazza Group, and Costa Coffee, and involving 11 participating supplier-partners, this unprecedented collaboration aimed to develop an open-source greenhouse gas emissions benchmark, creating the first standardized method to assess emissions from coffee cultivation in Southeast Asia. In Vietnam, Louis Dreyfus Company secured $3.8 million in investment to implement coffee supply chain projects. The Activity supported carbon footprint assessments that enabled LDC to establish robust baselines to invest in climate-smart interventions, and monitor impacts of improved fertilizer management, promoting agroforestry, and other regenerative Robusta coffee farming practices. These baselines helped LDC secure and inform company investments into specific supply chain projects in Vietnam and Indonesia. As a result, carbon is now an integral part of LDC's Coffee Sustainability Strategy and LDC's farmer support program titled Stronger Coffee Initiative. In Indonesia, Lestari Capital committed a new $12.8 million investment to implement a forest landscape project with local partner Institute for Promoting Sustainable Livelihood Approach (INPROSULA) in Malinau District, North Kalimantan, Indonesia. The project aims to conserve and restore 13,819 hectares of forest, leading to a reduction in GHG emissions by an estimated 1,090,066 tons CO2e projected over the next 15 years, while enhancing the livelihoods of an estimated 304 households in the area.