ANZ NZ pumps $4 million into AgriZeroNZ for farm emissions reduction

SME Banking
14/04/2024 News

ANZ Bank New Zealand is doubling down on its environmental commitment with a $4 million investment in AgriZeroNZ, a partnership between the New Zealand Government and industry leaders aimed at slashing farm emissions.

This investment reflects ANZ NZ's dedication to helping farmers reduce greenhouse gas emissions while building resilience against climate change. The focus is on funding innovative projects to mitigate biogenic methane and nitrous oxide emissions from pasture-based farming.

Lorraine Mapu, Managing Director for Business and Agri at ANZ NZ, emphasized the significant challenges farmers face in balancing emission reduction with maintaining productivity and profitability. The investment aims to make a tangible impact at the farm level.

Since its establishment in 2023, AgriZeroNZ has invested over $22 million in six projects and is exploring numerous other opportunities globally. This surge in investment underscores the growing interest in finding sustainable solutions for livestock emissions, potentially positioning New Zealand as a global leader in sustainable agriculture.

Fraser Whineray, Director of AgriZeroNZ, hailed ANZ NZ's investment as crucial for empowering farmers and securing the agricultural sector's future. He welcomed the private sector's increasing involvement in supporting farmers, aligning with AgriZeroNZ's mission.

As the leading lender to the agriculture sector in New Zealand, ANZ NZ is working with industry stakeholders to assist customers in adopting sustainability practices and managing their environmental footprint. Lorraine Mapu stressed the need for unprecedented levels of investment and collaboration to achieve emission reduction targets, highlighting initiatives like AgriZeroNZ as models for effective partnership towards common goals.

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