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    ANZ NZ’s investment in AgriZeroNZ boosts farm emissions reduction research.

    10 Apr 2024

    ANZ Bank New Zealand (ANZ NZ) has today announced an agreement to make a $4 million investment in AgriZeroNZ, a public-private joint venture between the New Zealand Government and significant industry stakeholders.

     

    The investment supports ANZ NZ’s long-term ambition to support farming customers as they reduce their greenhouse gas emissions and enhance their resilience to a changing climate.

     

    It also recognises the important role of research and development in the transition to a low-emissions, climate-resilient economy.

     

    AgriZeroNZ brings together public and private funds to invest in tools and technologies that will help pasture-based farmers reduce their biogenic methane and nitrous oxide emissions.

     

    “Reducing emissions while also maintaining productivity and profitability is a huge challenge for our farmers,” said Lorraine Mapu, ANZ NZ’s Managing Director for Business and Agri.

     

    “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.”

     

    Since its creation in 2023, AgriZeroNZ has committed more than 22 million dollars into six investments and is considering more than 60 other opportunities around the world.

     

    “There is significant global interest in finding affordable and effective ways to cut methane and nitrous oxide emissions in grass-fed livestock,” said Mapu.

     

    “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.”

     

    AgriZeroNZ’s Director, Fraser Whineray said the investment will help the joint venture strengthen its focus on supporting farmers and securing the agricultural sector’s future.

     

    “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,” said Fraser Whineray.

     

    As the country’s largest lender to the agriculture sector, ANZ NZ is working alongside industry to support customers in their efforts to become more sustainable and to manage their environmental impacts.

     

    “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,” said Mapu.

     

    “This initiative is a world-leading example of how this can happen, and we’re delighted to be part of it.”

     

    Media contacts:

    ANZ - Tarek Bazley, +64 27 428 0434 tarek.bazley@anz.com

    AgriZeroNZ - Ashleigh Sattler, +64 27 313 2627 ashleigh.sattler@agrizero.nz

     

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