Bonsucro Impact Fund: A Catalyst for Change
The Bonsucro Impact Fund has been launched and the first proposals have been received. Using income from the Bonsucro Credit Trading Platform, the Fund offers Bonsucro members and partners the chance to apply for thematic grants for initiatives and projects that catalyze sustainable sugarcane production.
Collaboration and Innovation
All proposed projects put forward must involve at least two organizations – the main applicant, who must be a Bonsucro member, and a co-applicant who does not have to be a member.
Potential for Scale
While the initial project may not impact a huge number of farmers or area of land, Bonsucro is seeking ideas that can be scaled up or replicated in other places.
Focused impact in specific origins will help us achieve strategic aims. These include Brazil, Mexico, Guatemala, India, and many others.
How it works
Bonsucro will publish “Calls for Proposals” on specific themes and invite their members to apply for grants through a competitive selection process. These themes have been carefully selected to ensure align with their strategy.
The first two grants are for
1) Innovating sustainability in smallholder sugarcane farming and,
2) Building innovative approaches to reduce greenhouse gas emissions or improve water stewardship in sugarcane farming and milling.
A Project Selection Committee will evaluate and select the grants that best meet the identified goals. All grant recipients will go through a due diligence process and are expected to respect Bonsucro’s Code of Conduct. Once the project is underway, a member of the Bonsucro Secretariat will ask for regular updates.
Where the money comes from
The Bonsucro Impact Fund creates grants using income from the sale of Bonsucro Credits through our Credit Trading Platform. All trades are charged a transaction fee, around 50% of which in invested into the Bonsucro Impact Fund. There is currently over $700,000 in the fund.
Bonsucro certified producers can sell credits for their sugarcane, raw sugar, ethanol, or molasses. Bonsucro members can purchase credits, whether they are certified against the Chain of Custody Standard or not. This allows buyers to achieve their sustainable sourcing goals while investing in sustainability projects at sugarcane origins.
Supporting Change in Our Supply Chain
CSC Sugar and Sugaright have been supporters of Bonsucro and their mission to improve the sustainability of cane sugar in our supply chain. We offer Bonsucro Certified Sugar to our customers to help them meet the growing demands of today’s consumer.
Please contact us if you want to know more about these exciting initiatives.