The Better Cotton Growth and Innovation Fund (GIF) — set up by BCI and IDH is well under way to meet the target of reaching 5 M farmers by 2020. The Fund invested over €8.9 million in more sustainable cotton farming in 7 major cotton producing countries: India, Pakistan, China, Mozambique, Turkey, Tajikistan and Senegal.
The Better Cotton GIF Annual Report, shows the attribution of the Fund with stories from the 7 production countries, and provides insights from companies, large and small that are collaborating through the Better Cotton GIF to make cotton production more sustainable.
Download the Better Cotton GIF Annual Report on the new IDH-BCI Better Cotton GIF website.
Alan McClay, CEO, BCI: ‘In 2016, we launched the Better Cotton Growth and Innovation Fund, a global project portfolio designed to be a catalyst for transforming cotton production by achieving scale and impact. The Better Cotton GIF portfolio needs to grow rapidly over the next four years to keep BCI on track to achieve our ambitious targets, transitioning from hundreds of thousands of farmers — more than a third of the total farmers reached by BCI with its partners — to millions. And to achieve scale, we must innovate, an important facet of BCI that will become increasingly significant as we grow.’
Joost Oorthuizen, CEO, IDH: ‘The Better Cotton GIF provides a mechanism for retailers and brands so they can make investment decisions and have impact on scale they would never be able to reach on their own. It also enables public-private cooperation on an unprecedented scale which add to its successful implementation.’
The Better Cotton Growth and Innovation Fund is governed by the BCI Council in partnership with BCI Retailer and Brand Members, Civil Society Members, and government bodies. IDH is the Fund Manager, along with being an important funder.
The Better Cotton GIF identifies, supports and invests in field-level programs and innovation while fostering adoption of the Better Cotton Standard System by governments, trade associations and other entities.
Total portfolio of 8,9 M euro
In 2016, the Better Cotton GIF directly invested €4.2 million in field-level programs and mobilized an additional €4.7 million in co-funding from partners—a total portfolio value of €8.9 million. These investments enabled over 600,000 farmers to participate in BCI programs over the 2016/17 cotton season.
Strong commitment of Brands and Retailers
The success of the Better Cotton GIF depends on the commitment of BCI Retailer and Brand Members, who contribute through a fee based on the volume of cotton they source as Better Cotton. This fee enables brands to directly and efficiently support field-level programs. In 2016, BCI saw its retailer and brand membership base grow by 43%, indicating strong future growth for the Better Cotton GIF.
In its first year, the Better Cotton GIF supported Better Cotton production in 7 countries: India, Pakistan, China, Mozambique, Turkey, Tajikistan and Senegal. Major successes for the Better Cotton GIF in 2016 include:
• Strengthened relationships with governments in India and Pakistan;
• The highest-ever annual national production of Better Cotton in China;
• An exemplary cooperative model of delivering farmer training and capacity building in Tajikistan.
Download the Better Cotton GIF Annual Report on the new IDH-BCI Better Cotton GIF website.