&Green is partnering with ETG to support the transition of the cocoa sector into deforestation-free and inclusive supply chains. ETG is committed to sourcing cocoa from traceable and NDPE -compliant supply chains in Ivory Coast by 2025. This will be achieved by implementing a landscape-based supply chain management approach to drive impact on land and people.

Export Trading Co. Ltd or ETC Group ("ETG")
Ivory Coast
E&S Risk Category
&Green Investment
USD 30 million
Investment Term
8 years
Financial Structure
&Green is providing an 8-year senior unsecured corporate loan of USD 30 million. While the facility is unsecured, it will be pari-passu to other senior creditors.
Impact Targets
100% traceable, inclusive, NDPE-compliant supply chain.
IFC Performance Standards compliance in Ivory Coast.

Through its investment into ETG, &Green aims to support the adoption of a landscape-based approach to manage supply chain impacts and risks associated with cocoa production, to ultimately eliminate deforestation, while protecting existing forests and biodiversity, through the inclusion smallholder cocoa farming communities in Ivory Coast.

Ivory Coast is the largest producer of cocoa beans (followed by Ghana). Cocoa production is dominated by smallholder farmers and plays a key role for communities’ livelihoods. At the same time, agriculture contributes to 62% of deforestation in the country, of which 38% is driven by cocoa production.

ETG’ commitments have been detailed in two documents developed together with &Green: The Landscape Protection Plan ( LPP ) and the Environmental and Social Action Plan ( ESAP ). ETG’s commitments will drive the transformation of its sourcing practices as well as of its local traders from whom ETG buys cocoa, and, by implication, the livelihoods and practices of cocoa smallholder communities.

To secure a 100% traceable, NDPE-compliant and inclusive cocoa supply chain, ETG will establish a framework for designing landscape-based interventions to address NDPE-related risks in sourcing regions where they are the highest. After selecting its high-risk sourcing landscapes, ETG will develop tailored sustainability programs, and set outcome and impact targets to demonstrate tangible impact on land use.

KPIs *** 2023 Key Performance Indicators not available given that the transaction was closed end of December 2023

The new partnership with &Green underscores ETG's long-standing commitment to advancing the cocoa sector's transformation and creating positive impact for its producers, and communities.


ETG’s Chief Treasury Officer



ETG will update its Cocoa Sourcing Guidelines incorporating NDPE commitments and timelines.


It will identify and manage the NDPE-related risks in its cocoa supply chain.


The company will enhance its landscape-based approach to manage NDPE risks associated with the supply chain with diverse features. This includes the classification of the sourcing landscapes based on risk levels using the risk map and MRV framework for setting targets and assessing performance a farm- and landscape-level.


ETG will also implement ‘EHS Insight’ program across ETG’s Nutrisco operations in Ivory Coast.

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