What could be the role of cooperatives in implementing responsible investment in agriculture (RAI) in developing countries? As a result of a fieldwork research carried out on two cooperative unions and one area cooperative enterprise (ACE) in Uganda, this paper investigates the role of cooperatives in promoting RAI and the related effect on members’ well-being at the level of their holdings, households and communities. This has been explored both using qualitative methods and analyzing quantitative indicators related to unions’ economic and financial trends. The main contribution of this research is to identify main challenges and possible related strategies for cooperatives as implementers and generators of RAI and to provide policy recommendations.