In a New Zealand first, ethical dairy investor Southern Pastures has entered into a three-year $50 million sustainability-linked farm loan with BNZ and its syndicate.
Southern Pastures, owner of Lewis Road Creamery, will receive financial incentives for meeting new water quality and biodiversity targets and for achieving further reductions in its already low on-farm carbon emissions. Achievement of the targets will be directly linked to lower loan costs.
“This deal recognizes that farming to mitigate climate change and environmental impacts is in our common interest,” says Southern Pastures Executive Chairman Prem Maan. “In my view, farming in New Zealand should be driven by the ambition to become carbon neutral.”
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