CBA partners with Ruminati to empower farmers in emissions management

SME Banking
16/02/2024 News

CBA and Ruminati have joined forces to empower farmers in managing emissions. Through a pilot program, selected livestock and mixed farming customers in Victoria, Queensland, and New South Wales gain access to an emissions calculator to measure their baseline emissions and model potential practice changes. This initiative reflects CBA's commitment to supporting farmers in transitioning to more sustainable practices, providing them with the tools to make informed decisions that enhance both environmental and economic outcomes.

Paul Fowler, CBA’s Executive General Manager for Regional and Agribusiness Banking, emphasizes the importance of empowering farmers to capitalize on opportunities for improved productivity while safeguarding natural resources. Natasha Greenwood, CBA’s General Manager of Agribusiness, highlights the significance of emissions measurement in strengthening market access and meeting evolving supply chain expectations.

The collaboration between CBA and Ruminati aims to foster a broader movement towards sustainable agriculture. Bobby Miller, Co-Founder of Ruminati, underscores the need for accessible tools and capital to enable proactive climate action within the agricultural sector. By equipping farmers with the necessary resources, the initiative seeks to drive positive change from the grassroots level, promoting resilience and sustainability in Australian agriculture.

In addition to the pilot program, CBA offers a range of sustainable finance solutions to support customers in investing in natural capital and enhancing business efficiencies. These include innovative financial products such as Australia’s first Agri Green Loan, Green Asset Finance, Sustainability-Linked Loans, and pre-financing options for carbon credits.

As agriculture adapts to evolving environmental and market dynamics, collaborations like the one between CBA and Ruminati exemplify the collaborative spirit essential for driving meaningful change. By harnessing technology, data, and financial solutions, stakeholders across the agricultural value chain can work together to build a more sustainable and prosperous future for the industry and the planet.

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