Latest news with #AgriZeroNZ
NZ Herald
16 hours ago
- Business
- NZ Herald
Groundswell and the new scaremongering about climate action
Some people found this month's ravaging floods in Nelson and Tasman quite scary, but never mind. Plans to identify who's helping to cause floods like that and who's helping to prevent them are apparently much worse. Talk about scaremongering. What does the taxonomy plan really mean? AgriZeroNZ has one answer. This joint venture between the Government, agribusinesses and banks has just announced a $6.3 million investment in BiomEdit. BiomEdit is an Indiana-based company that makes probiotic feed additives designed to boost productivity and reduce methane emissions from dairy cows. This is AgriZeroNZ's third such investment. Chief executive Wayne McNee says, 'We're investing in local and global companies to give us the best chance of providing New Zealand farmers with access to a range of affordable, effective mitigation solutions to choose from.' The taxonomy plan will allow this kind of financing to be accurately and independently assessed and labelled. Why would anyone call that 'the scariest thing'? Groundswell has come a long way in a short time. In 2020 this group of Southland farmers started to build a nationwide network with tractor convoy protests, sporting slogans like 'No tax on food production' and 'Don't bite the hand that feeds you'. Part of a Groundswell protest at Parliament. Photo / Mark Mitchell Back then, Groundswell was relatively fringe. Since then, it has channelled climate denialism and anti-government campaigns into high-powered lobbying. I know, they will say they're not denialists. But in my view they consistently do their best to block climate action in the rural sector. They want us out of the Paris Accord and they argue methane has been unfairly targeted. They quack like a duck. To me, they're having the same impact as climate denialists. And their lobbying is effective. In my opinion, Groundswell has bent the Feds increasingly to their views and they have influential supporters in all three parties of Government. Back to sustainable finance taxonomy, which has been proposed by Climate Change Minister Simon Watts. As press gallery journalist Richard Harman has reported, his plan aligns with similar moves in Australia and the European Union. Climate Change Minister Simon Watts. Photo/ RNZ / The Centre for Sustainable Finance calls it 'a standardised framework for classifying economic activities according to their environmental performance'. The centre is a co-ordinating group that includes all the major banks and several of the big law and accountancy firms. When Watts floated the idea last September, he said, 'The strategy will provide the necessary clarity for financing and investments, helping New Zealand align with global sustainability trends. This alignment will not only attract investment but also increase jobs and drive economic growth locally.' If you think that sounds like a framework to allow banks to assess the climate impacts of lending proposals, you'd be right. Groundswell and the Feds are opposed and, in parallel, Act and NZ First both have private member's bills intended to make it illegal for financial institutions to consider 'ideology' or 'reputational risk' in their lending decisions. 'Woke banks!' complains NZ First. NZ First leader Winston Peters visiting the Covid-related protest at Parliament in 2022. Photo / Mark Mitchell This is absurd. Banks aren't driven by green ideology: they know that lending to ventures that could be undermined by climate change is bad business. They also know the world is full of greenwashing. The law firm Russell McVeagh says taxonomy 'could reduce both the risk of organisations describing financial products in a way that is accused of being misleading (greenwashing) and the risk of organisations staying silent on sustainability-related matters to avoid being accused of making misleading statements (greenhushing)'. Is that BiomEdit work credible? Sustainable finance taxonomy, done well, will tell us the answer. If it's yes, it can be promoted; if it's no, funding agencies can move on. Standing in the way of this is, to me, the same as denialism. It's also hypocritical, when it's done by political groups who claim to believe in the value of the market. Sustainable Finance Taxonomy empowers the market to make economically informed decisions. Russell McVeagh says it 'could allow the development of new financial products, such as KiwiSaver products that align ... with taxonomy criteria'. What a good thing that would be. Where does National stand on all this? Does Watts represent the party position or are the politics more subtle than that? National's climate response is very oddly mixed. To take just one example: oil and gas exploration is supposed to be restarting but the legislation to allow this is a long time coming. There's more rhetoric than reason in this policy, because it's well known that new exploration will not solve the twin energy crises of customer pricing and precarious supply. This is because prospecting outcomes are uncertain and the timelines are far too long. Meanwhile, Watts has put incentives in place to expand urban residential and rural solar power, but there's very little action to back them up. One way to read this is to assume Watts has been designated to build National's appeal to the climate-conscious middle ground of the electorate. But the party is terrified of losing provincial and rural votes to Act and NZ First, so Watts gets to say more than he gets to do. And while the oil and gas policy won't change anything we need changing, it does reward some very well-oiled lobbying from the fossil-fuel sector. Also, it allows Shane Jones to keep up the inflammatory posturing. Resources Minister Shane Jones during his appearance at the Economic Development Select Committee hearing this year. Photo / Mark Mitchell Which, in turn, provides cover for Government inaction on what's really needed: meaningful, customer-focused, climate-conscious reform of the energy sector. Where does this leave sustainable finance taxonomy? Will the Government support this initiative to reduce emissions and build climate resilience? Or will it cave in to Groundswell-inspired climate denialism and attack the ideologically-rotten greenies running the banks? It's a common view that the coalition Government has brought a new maturity to MMP, because the major party has worked out how to let the minor parties strut their own stuff, even when it's outrageous, while it gets on with its own programme. But real MMP maturity would involve more than this. If National supports Watts' plan for sorting the real climate action from the fake, and its partners are away chasing their denialist base, it should call on Opposition support. Call out that 'scariest thing yet' nonsense: that's how to stop the tail wagging the dog. And getting a mid-ground consensus to do the right thing is also very likely the way to build more trust and respect for politicians. Simon Wilson is an award-winning senior writer covering politics, the climate crisis, transport, housing, urban design and social issues, with a focus on Auckland. He joined the Herald in 2018.
Scoop
10-06-2025
- Business
- Scoop
Innovative Pasture Project To Drive Farmgate Returns
Minister of Agriculture The Government is backing a $17 million partnership with farmers to boost productivity, profitability, and sustainability by identifying the most resilient, high-performing pastures for New Zealand conditions, Agriculture Minister Todd McClay announced today at Fieldays. Minister McClay confirmed the Government will invest $8.269 million in the Resilient Pastures project through Budget 2025's new Primary Sector Growth Fund (PSGF), alongside sector leaders including DairyNZ, Beef + Lamb New Zealand, Fonterra, AgResearch, and others. 'This is a smart investment that will deliver real outcomes for farmers — increasing pasture performance, extending productive lifespan, cutting re-grassing costs, and improving profitability across the board,' McClay said. 'New Zealand farmers produce high-quality, safe, and sustainable food and fibre that is in demand around the world. Projects like this help us stay at the front of the pack —making it easier to farm productively and drive farm gate profitably.' The project will focus on the upper North Island, where pasture productivity has been challenging. Research and trials will develop region-specific pasture mixes and on-farm practices that respond to changing conditions, with farmers involved every step of the way. 'This is about innovation that delivers at the farmgate. By partnering with farmers and agri-leaders, we're backing practical solutions that drive growth and reduce red tape,' McClay says. Today's announcement builds on the Government's wider support for the sector, including: Over $400 million invested to accelerate emissions-reduction tools through AgriZeroNZ and NZAGRC; New technologies for nutrients, genetics, and pasture resilience already underway through PSGF; Ongoing work to remove outdated regulations and simplify compliance. 'Our message is clear: this Government backs farmers. We're here to grow value, not bureaucracy.'
RNZ News
10-06-2025
- Business
- RNZ News
AgriZeroNZ on methane-cutting technologies
AgriZeroNZ - a partnership between the government and major agribusiness - has invested $191 million into methane-cutting technologies with the aim of cutting emissions by 30 percent by 2030. Head of engagement and strategy Ruth Leary spoke to Corin Dann. Tags: To embed this content on your own webpage, cut and paste the following: See terms of use.
National Business Review
09-06-2025
- Business
- National Business Review
Lucidome Bio appoints board chair
Lucidome Bio has appointed agricultural technology commercialisation expert Bridgit Hawkins as chairperson, strengthening its governance bench as the company advances its breakthrough methane-reducing vaccine towards global commercial development. The company was established by AgriZeroNZ, with the support of the New Zealand Agricultural Greenhouse Gas Research Centre, the Pastoral Greenhouse Gas Research Consortium and the New Zealand Government and consolidates New Zealand's intellectual property, scientific talent and funding into a single high-growth venture. Lucidome Bio chief executive David Aitken said: 'We've built strong … foundations and are now focused on making technology breakthroughs, progressing regulatory pathways, and strengthening our commercial roadmap into the future. Bridgit has navigated this transition many times and understands how to balance bold thinking with tight execution. She is set to play a critical role in helping us move with clarity and intent.' Hawkins brings deep experience in leading technology-driven companies from early concept phase through to scale and exit. As former founder and CEO of Regen Ltd, she is currently chief sustainability officer at farm management solution company CropX. Hawkins' work has spanned startup governance, capital raising, intellectual property strategy, commercial partnerships, and measuring climate tech impact for global clients. With a master's degree in agricultural science, she has also completed executive training at Stanford University's Graduate School of Business and founded Fields of Change, an initiative focused on industry-wide solutions to systemic agricultural challenges. 'Early-stage governance is very different to conventional business-as-usual. You're dealing with high potential, limited resources, and a very fast-moving market. The skill is knowing where to focus – what truly matters – and how to use the resources you have to maximise their effect,' Hawkins explained. Hawkins said what drew her to Lucidome Bio was a rare combination of breakthrough science, a purpose-led team, and a shared sense of urgency. 'The impact potential is enormous, the science is sound, and the belief is real. Now we need to show the world we can execute.' The appointment comes as Lucidome Bio gains growing international recognition, following its selection as a 2025 global finalist at the Animal Health, Nutrition and Technology Innovation Showcase in Boston where the company's methane vaccine was recognised for its potential to transform livestock methane reduction at scale. The technology targets methanogenic archaea – the microbes in a ruminant's gut responsible for methane production – by priming the animal's immune system to generate antibodies that reduce methanogen growth through a cost-effective vaccine. The result is a practical, science-backed solution that supports emission reductions without compromising animal health or productivity. 'In many parts of the world, feed additives or high-cost delivery systems simply aren't viable. A vaccine levels the playing field – it's scalable, cost-effective, and equitable and I look forward to ensuring Lucidome Bio gains traction both locally and on the global innovation stage,' concluded Hawkins. This is supplied content and not commissioned or paid for by NBR.
Otago Daily Times
27-05-2025
- Business
- Otago Daily Times
Reductions market-driven: SFF
Silver Fern Farms says its focus on emissions reduction is driven by what its customers and markets want. "It's not about the Paris Climate Accord or domestic methane targets. It's wholeheartedly driven by the markets you need to be in," chief executive Dan Boulton told shareholders attending yesterday's annual meeting of Silver Fern Farms Co-operative in Dunedin. Many high-value customers were addressing their own emissions reduction targets while many farmers were also implementing changes on farm to improve efficiencies and reduce emissions. Some might call it woke, but the company's view was that given New Zealand farmers' track record of environmental progress and efficiencies, it would be "irresponsible to walk away from it", he said. Customers were willing to invest in new ways of achieving targets and they were not interested in domestic debate around historic land use change in New Zealand, or that New Zealand contributed only a small percentage of global emissions. "They are only interested in what is in their supply chain," he said. Silver Fern Farms invested $9.1 million in AgriZeroNZ over the last two years, and held a shareholding of about 7.59%. That investment represented about 0.1% of total revenue. Customers in markets who made public commitments represented about 20% of its revenue and that was growing, he said. The investment in AgriZeroNZ was about options to meet that market driver without compromising key market advantages. There were a range of tools AgriZeroNZ was investing in which would go through rigorous testing. Some farmers might not be open to that "direction of travel" and it would not be forced on them. Many would be happy to accept it. He made no apologies about creating options for farmers to make sure they stayed aligned with what the markets wanted, he said. It was about finding solutions and options to address customers needs — to ensure the company maintained market access and its highest-value customers — and make it cost effective and easy to implement on-farm. Earlier this year, Silver Fern Farms announced a $21.8m net loss after tax for the year ended December 31, a $2.6m improvement on last year's result. Revenue was down $144m to $2.6 billion, ebitda was up $16.3m to $32.7m and capital expenditure was more than halved, down to $52.5m. Silver Fern Farms Co-operative, which jointly owns Silver Fern Farms Ltd with Bright Meat Group, recorded a net loss after tax of $10.9m, up from last year's $10.7m loss. Mr Boulton reiterated it was disappointing to post a loss but, without greater cost control and commercial discipline, the result would have been significantly more unfavourable. Looking at the year ahead, livestock volumes were materially lower than expected and the industry had adjusted by removing capacity earlier than was typical. Lamb kill was back 8%, predominantly in the South Island, and national beef kill was back 6% for the season to date. It would be the second consecutive challenging winter for processors, which created downstream challenges, and action and leadership was needed across the industry to address structural issues. Improved pricing was expected to stay around for the foreseeable future and that pricing had been rebuilding confidence in farming, as farmers looked to expand and buy more land. "Coming into this year, we are a fitter, more resilient Silver Fern Farms," he said. Protein demand would outstrip supply for the year ahead and growing concern around food security provided significant opportunities for New Zealand to leverage. "There's a lot to be excited about if you're a producer here in New Zealand," he said. Last year, Silver Fern Farms Co-operative bought a 12.5% stake in Woolworks for $18.486m. Silver Fern Farms Co-operative chairwoman Anna Nelson yesterday said better wool returns were essential for the overall viability of sheep farming. Asked about any potential conflict of interest with outgoing Silver Fern Farms director Rob Hewett being chairman of Woolworks, she said an extensive due diligence process was followed "with Rob firmly out of the room".
