Vita Coco Launches Growing Roots Grant Program
Rhea-AI Summary
The Vita Coco Company (NASDAQ: COCO) has launched the Vita Coco Growing Roots Grant (GRG) program in partnership with the Arbor Day Foundation. This initiative aims to fund innovative projects that incorporate tree and garden-related learning experiences in under-resourced schools and communities. The program offers School Greening grants to schools recognized through the Arbor Day Foundation's Tree Campus K–12 program.
Eligible projects include designing outdoor classrooms with tree planting, school or community gardens with fruit trees, and schoolyard forest tree planting. The GRG program aims to enhance school environments, improve air quality, boost biodiversity, and foster environmental stewardship. It also promotes health, wellness, and community resilience by creating outdoor spaces and developing leadership skills.
As a Public Benefit and certified B Corp, Vita Coco sees this program as part of its social impact initiative, the Vita Coco Project® (VCP), which focuses on empowering communities.
Positive
- Launch of a new social impact program (Growing Roots Grant) potentially enhancing brand image and corporate social responsibility
- Partnership with the Arbor Day Foundation, a well-established environmental organization
- Alignment with company's status as a Public Benefit and certified B Corp, potentially appealing to socially conscious investors
Negative
- None.
News Market Reaction
On the day this news was published, COCO gained 0.86%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Program intends to empower communities and promote equitable opportunities for long-term community prosperity
NEW YORK, Oct. 07, 2024 (GLOBE NEWSWIRE) -- The Vita Coco Company, Inc. (NASDAQ: COCO)(“Vita Coco”), a leading high-growth platform of better-for-you beverage brands, today announced the launch of its Vita Coco Growing Roots Grant (GRG) program, intended to fund innovative projects that incorporate tree and garden-related learning experiences within under-resourced schools and communities.
The program works in partnership with the Arbor Day Foundation to offer School Greening grants to schools recognized through the Arbor Day Foundation’s Tree Campus K–12 program. Funding is open for all recognized 2023/2024 K-12 Tree Campuses to apply, and can be used for one of the following three projects:
- Design and installation of an outdoor classroom or learning space on or near school grounds that includes planting trees;
- School or community garden project that includes installation of fruit trees;
- Schoolyard forest tree planting project.
Stemming from Vita Coco’s Seedlings for Sustainability program, that focuses on restoring and regenerating land around the world, the GRG program serves to enhance school environments with greenspaces, which in turn, aims to improve air quality, boost biodiversity, and strengthen ecosystem resilience, while also fostering environmental stewardship through student education. It also promotes health and wellness by creating outdoor spaces that encourage physical activity and support mental well-being.
Additionally, the program aims to strengthen communities by investing in tailored local projects that build resilience, develop leadership skills, and empower residents. By addressing each communities’ unique needs, it promotes equitable opportunities for long-term community prosperity.
“Our environment shapes our lives every day, and the outdoor spaces, custom projects and tailored learning experiences from the GRG program will enable local communities to prosper,” said John Tran, Director of Sustainability and Social Impact at Vita Coco. “We are proud to play our part investing in the planet and enabling more communities to have access to greenspaces.”
Parties interested in learning more about the Arbor Day Foundation’s Tree Campus K–12 program can visit arborday.org.
As a Public Benefit Corporation and a certified B Corp, Vita Coco believes businesses can contribute positively to the communities and environments in which they operate. The GRG program is part of the company’s social impact program, the Vita Coco Project® (VCP), which focuses on empowering communities.
ABOUT THE VITA COCO COMPANY
The Vita Coco Company is a family of brands on a mission to reimagine what’s possible when brands deliver healthy, nutritious, and great tasting products that are better for consumers and better for the world. This includes its flagship coconut water brand Vita Coco, sustainably packaged water Ever & Ever, and protein-infused water PWR LIFT. The Company was co-founded in 2004 by Michael Kirban and Ira Liran and is a public benefit corporation and Certified B Corporation. Vita Coco, the principal brand within the Company’s portfolio, is the leading coconut water brand in the U.S. With electrolytes, nutrients, and vitamins, coconut water has become a top beverage choice among consumers after a workout, in smoothies, as a cocktail mixer, after a night out, and more.
ABOUT THE ARBOR DAY FOUNDATION
Founded in 1972, the Arbor Day Foundation is the largest nonprofit membership organization dedicated to planting trees. Together with our partners, we have helped plant more than 500 million trees in neighborhoods, communities, cities and forests throughout the world. Our vision is to lead toward a world where trees are used to solve issues critical to survival. Through our members, partners and programs, the Arbor Day Foundation inspires people across the globe to plant, nurture and celebrate trees. More information is available at arborday.org.
MEDIA CONTACT
Stephanie Knight
Sknight@soleburystrat.com
FAQ
What is the Vita Coco Growing Roots Grant (GRG) program announced by COCO?
What types of projects are eligible for funding under COCO's Growing Roots Grant program?
How does the Growing Roots Grant program align with Vita Coco's (COCO) corporate values?
What are the main objectives of COCO's Growing Roots Grant program launched in October 2024?
