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.

Related news & insights

24/05/2024 News payment card provides access to over 300,000 charging stations in Europe has integrated the Idemia Card Connect technology over the past two years to enhance its payment card services. This...

SME Banking
20/05/2024 News

CBA enhances sustainability tool for small businesses with new partnerships

Commonwealth Bank of Australia (CBA) has upgraded its Sustainability Action Tool by partnering with BioPak and EnergyFlex to help small...

20/05/2024 News

AXA and the Universal Postal Union (UPU) join forces to advance inclusive insurance through postal networks

This collaboration aims to use the extensive reach and trust of postal services to offer financial protection to underserved populations.

19/05/2024 News

Sun Life launches innovative insurance solution for Canadians living with diabetes

This industry-first offering provides a higher chance of approval, affordable premiums, and personalized care to empower individuals with diabetes.

18/05/2024 News

P&N Bank prioritizes inclusive experiences in new branches

Recognizing that 4.4 million Australians live with disabilities and many identify as neurodiverse, P&N Bank collaborated with community consultants with...

SME Banking
18/05/2024 News

Banco Sabadell launches first fully digital account for self-employed individuals

This new Online Account features a 100% digital onboarding process and extends the benefits of retail accounts to self-employed customers....

SME Banking
18/05/2024 News

Hong Leong Islamic Bank launches BizHalal for SMEs in the Halal industry

BizHalal provides Shariah-compliant financing and Halal advisory support, facilitating businesses' entry into the Halal economic landscape.

Digital Reinvention
15/05/2024 Article

Financial innovation spotlight: May 2024 edition

We have selected five new innovative projects that we found particularly interesting. A world tour that takes in France with...