AgriZeroNZ Secures $183 Million in Funding to Support Sustainable Farming

AgriZeroNZ, a New Zealand public-private partnership, has secured $183 million in funding from new shareholders The a2 Milk Company, ANZ Bank New Zealand, and ASB Bank. The partnership, owned by the New Zealand government and major agribusiness companies, aims to support sustainable pasture-based farming and maintain agricultural export competitiveness.

The new investment will further strengthen AgriZeroNZ's ability to support farmers and secure the future of New Zealand's agricultural sector by leading the way in sustainable pasture-based farming. The law firm MinterEllisonRuddWatts advised AgriZeroNZ on all aspects of these new investments, highlighting the industry's recognition of AgriZeroNZ's potential to drive positive change in agriculture.

Why this matters: The investment from the new shareholders reflects the growing commitment of New Zealand businesses to help get emission reduction tools into the hands of farmers. With the backing of both the government and private sector companies, New Zealand aims to become a global leader in developing tools, technologies, and practices to drive down agricultural emissions while maintaining the productivity and profitability of the food and fibre sector.

ASB, one of the new shareholders, says it wants to be part of the solution that addresses farmers' need for accessible and effective tools to help them become more sustainable while maintaining productivity and profitability. "We see AgriZeroNZ as a key player in supporting farmers to reduce emissions and maintain the competitiveness of our agricultural exports," said ASB CEO Vittoria Shortt.

The funding from The a2 Milk Company, ANZ Bank New Zealand, and ASB Bank will enable AgriZeroNZ to accelerate the development and deployment of sustainable farming solutions. By working closely with farmers, the partnership aims to ensure that the tools and practices developed are practical, effective, and economically viable for the agricultural sector.

Key Takeaways

• AgriZeroNZ secures $183M from The a2 Milk Co., ANZ, and ASB Bank to support sustainable farming.
• The investment aims to maintain NZ's agricultural export competitiveness through pasture-based farming.
• The partnership aims to develop tools, technologies, and practices to reduce agricultural emissions.
• ASB wants to help farmers access effective sustainability tools while maintaining productivity.
• The funding will accelerate the development and deployment of sustainable farming solutions.