Coop Danmark Launches Organic Agriculture Fund
Danish retailer Coop Danmark has partnered with two Danish environmental associations through its crowdfunding platform to increase the organic farming area in Denmark.
The Coop Danmark crowdfunding platform has joined with Økologisk Landsforening (Danish Organic Association) and Naturfredningsforening (Denmark’s Nature Conservation Association) to raise funds for the newly established Danmarks Økologiske Jordbrugsfond (Danish Organic Agricultural Fund).
The goal of the initiative is to raise funding in order to maintain and increase the organic farming area in Denmark through the acquisition of farms, according to the retailer.
The retailer’s 1.7 million members will now have the opportunity to help the Danish agricultural industry become more eco-friendly, according to Coop Danmark.
The fund has so far collected DKK 21.5 million (approximately €2.9 million) for the purpose, which aims to ensure the production of safe food without pesticide residue, maintaining soil fertility and groundwater, and protecting biodiversity.
All Coop Danmark members can buy a company share of DKK 1,000 (€134) or a half-share at DKK 500 (€67). If a member invests DKK 25,000 (€3,400) or more, it has the opportunity to exercise influence at an annual general meeting. The sale of shares began yesterday and runs until 31 January 2018.
“We believe that we share a common interest with agriculture,” said Nicolai Jæpelt, the project manager at Coop Danmark. “Agriculture is challenged by the generational change in its industry. At Coop, we have the challenge of maintaining a good source of organic raw materials in the future.”
“We are pleased that Coop has given us this opportunity,” said Kim Qvist, director of Danmarks Økologiske Jordbrugsfond.
“The wider the popular support, the better the opportunity to contribute to a systemic change in Danish agriculture. That can lead to a shift with greater regard for the environment, the climate and nature,” Qvist continued.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Kevin Duggan. Click subscribe to sign up to ESM: The European Supermarket Magazine.