Page 2 - Prem Maan News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Monday, 1 March 2021, 7:49 am 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 i...

Supplied Southern Pastures executive chairman Prem Maan says farming in New Zealand should be driven by the ambition to become carbon neutral. BNZ is offering a loan discount to dairy investor Southern Pastures, if it meets water and biodiversity targets on its farms, in a New Zealand first. The $50 million sustainability-linked loan is a pilot but BNZ will roll it out more widely if successful. In 2019 ANZ entered into a loan agreement with Synlait tied to Environmental, Social and Governance (ESG) metrics, in particular lowering its carbon footprint. BNZ chief executive Angela Mentis sai...