Hazelnut Investments in Bhutan
In 2008, Teresa Law and Daniel Spitzer founded Mountain Hazelnuts in Bhutan, working with mountain communities with limited income generating opportunities. It is now the biggest private-sector employer in the country.
It has been a good match for Bhutan, which is committed to economic development in line with its social and environmental aspirations. Both Law and Spitzer have finance backgrounds. Their plan was to build a for-profit business that served the people of Bhutan and its natural beauty, where profits would be shared between shareholders and the smallholder farmers.
Law and Spitzer are the majority owners of the company. Institutional investors include the IFC and Asian Development Bank, as well as social impact funds and family offices.
Continue reading on Euromoney here.
Sources I used for this article:
A larger feature on Bhutan's conservation strategy here from my colleague Chris Wright: