Monday, July 15, 2024

Govt joins with agribusiness leaders to cut emissions

Efforts to reduce New Zealand’s agricultural emissions have taken a step forward with the signing of a memorandum of understanding by the Government and agribusiness leaders.

Ministry for Primary Industries, Damien O’Connor signed the agreement alongside representatives from ANZCO Foods, Fonterra, Ngāi Tahu Holdings, Ravensdown, Silver Fern Farms and Synlait.

“We are committed to reducing agricultural emissions and for this we need to get new tools and technology into the hands of farmers as soon as possible. This joint venture will be a combined effort by government and industry to achieve this,” Minister O’Connor said.

It will be a long-term partnership with industry funding being matched by the Government, he said.

“Initial indicative commitments would see around $172 million invested over the next four years by industry and government to develop and commercialise practical tools and technologies for farmers.”

“That includes $7.75 million by industry this financial year alone.

“This represents a new and exciting way of working. By working together, we can help farmers shift the dial sooner.

“New Zealand can be, and should be, a leader in developing innovative new tools and technologies to reduce emissions on-farm, and be the one other countries can look to,” Mr O’Connor said.

The joint venture is a key component of the Centre for Climate Action on Agricultural Emissions.

The Centre was announced as part of the $338.7 million in funding allocated over the next four years to strengthen the role of research and development for new tools and technologies to reduce on-farm emissions which was announced in Budget 2022. This includes the Government’s funding component of the joint venture.

The agriculture sector contributes 50% of Aotearoa New Zealand’s gross greenhouse gas emissions, and around 91% of our biogenic methane emissions.

The Government has committed to a net-zero target for 2050 and reducing biogenic methane emissions by 10% by 2030, relative to 2017 levels, and 24 to 47% lower by 2050.

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