Investment boosts R&D for reducing farm emissions
ANZ Bank New Zealand has announced a significant investment in AgriZeroNZ, underscoring its commitment to assisting the agricultural sector in reducing greenhouse gas emissions and adapting to climate change.
ANZ NZ supporting sustainable farming
The $4 million contribution to AgriZeroNZ, a collaboration between the New Zealand government and key industry players, aims to finance research and development of tools and technologies that aid pasture-based farmers in decreasing their biogenic methane and nitrous oxide emissions.
The move aligns with ANZ NZ’s objective to support its farming customers in becoming more sustainable while remaining productive and profitable.
“Reducing emissions while also maintaining productivity and profitability is a huge challenge for our farmers,” Lorraine Mapu (pictured above), ANZ NZ’s managing director for business and agri, said in a media release. “We’re excited to be investing in these important and innovative projects and look forward to seeing their impact where it really counts – down on the farm.”
AgriZeroNZ’s global impact
Since its inception in 2023, AgriZeroNZ has allocated $22-million-plus to six projects, with more than 60 other potential investments under review.
The efforts to reduce carbon emissions in grass-fed livestock have garnered international attention, highlighting the potential for New Zealand to lead in sustainable agriculture globally.
“A breakthrough in this field will be a huge help to our farmers, but it also has the potential to put New Zealand in the driver’s seat when it comes to being a global leader in sustainable agriculture,” Mapu said.
Fraser Whineray, AgriZeroNZ’s director, welcomed the investment, noting its importance in reinforcing the joint venture’s mission to support the agricultural sector’s sustainability efforts.
“I’m pleased more of the private sector is joining us to back farmers – reinforcing our ambition and demonstrating their commitment to ensuring farmers can reduce emissions and maintain their competitive edge on the world stage,” Whineray said.
ANZ NZ: Financing a greener future
As the largest lender to the agricultural sector in the country, ANZ NZ is actively engaging with stakeholders to address environmental impacts and support the transition to a low-emissions economy.
“It’s increasingly clear that historic levels of investment and lending will be needed from business, governments, and financial institutions if we are to achieve our emissions reduction goals,” Mapu said. “This initiative is a world-leading example of how this can happen, and we’re delighted to be part of it.”
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