Danone and Mars Incorported have announced an investment fund that aims to help companies sustainably source materials from smallholder farmers.

EIN News reports that the Livelihoods Fund for Family Farming (Livelihoods 3F) plans to invest 120 million Euros over the next 10 years in projects in Africa, Asia and Latin America that restore the environment and degraded ecosystems while also improving productivity and the livelihoods of smallholder farmers and their communities.

“The challenges of sustainable agriculture can be met only if we are able to develop radically different approaches, combining economic, environmental and social objectives,” said Franck Riboud, Chairman of Danone’s Board of Directors.

“Business has an important role to play in addressing environmental and societal challenges and by focusing on such long-term investments we believe we can contribute,” said Victoria B. Mars, Chairman of the Board, Mars, Incorporated.

Livelihoods 3F was born out of the realization that there is a great need for increased investment in global food security and agriculture, in particular from the private sector. It will capitalize on success of the first Livelihoods Fund, a carbon investment fund initiated by Danone in 2011 and since joined by 9 companies. The carbon fund has invested in 7 projects dedicated to agroforestry, mangrove restoration and rural energy. It has planted 130 million trees that will sequester 8 million tons of CO2 and improve rural livelihoods.

Read the full story: Danone & Mars, Incorporated, To Be Founding Investors Behind Livelihoods Fund For Family Farming, An Innovative Platform Open To All Companies