Tesco and NatWest Partner to Support UK Farmers in Sustainable Farming Transition
Source: The DairyNews
Tesco, a leading UK supermarket, has teamed up with NatWest Bank to offer support to farmers in transitioning to more sustainable farming practices. The initiative aims to reduce costs and decarbonize agriculture while promoting environmental stewardship within the industry.
Under the voluntary scheme, up to 1,500 members of the Tesco Sustainable Dairy Group, along with other farmers, will have access to financial assistance and preferred supplier arrangements. Participants will benefit from potential volume discounts on sustainable farming assets such as solar panels and heat pumps.
The program, developed with input from farmers, targets those involved in Tesco's Sustainable Farming Groups for dairy, beef, and lamb. The Sustainable Dairy Group, now in its 17th year, has been instrumental in supporting producers during economic uncertainties and boasts the largest cohort of dairy farmers collaborating directly with a retailer.
Access to finance has been identified as a significant barrier for farmers seeking to adopt sustainable practices. To address this, Tesco and NatWest are providing attractive funding solutions through Lombard, the UK's largest asset funder. Farmers will also receive support and expertise in decarbonizing their farms, covering various assets such as solar panels, wind turbines, and biomass boilers.
Dave Jones, Chairman of Tesco's Sustainable Dairy Group, highlighted the importance of financial assistance in implementing green technology on farms. He expressed enthusiasm for the collaboration between Tesco and NatWest, emphasizing its potential to reduce farm emissions and drive sustainability.
Peter Huish, Head of Consumer Industries at NatWest Group, underscored the initiative's contribution to the UK's climate goals and food security. He emphasized NatWest's commitment to providing sustainable funding and financing, aligning with Tesco's efforts to promote environmental responsibility.
Ashwin Prasad, Tesco Group Chief Commercial Officer, emphasized the food industry's role in balancing food security with environmental protection. He expressed confidence that the partnership with NatWest will empower farmers to invest in sustainable farming methods, ultimately contributing to a more sustainable future for agriculture.
The collaboration between Tesco and NatWest reflects a concerted effort to support UK farmers in adopting sustainable practices, thereby safeguarding the environment and ensuring the resilience of the agricultural sector.
The program, developed with input from farmers, targets those involved in Tesco's Sustainable Farming Groups for dairy, beef, and lamb. The Sustainable Dairy Group, now in its 17th year, has been instrumental in supporting producers during economic uncertainties and boasts the largest cohort of dairy farmers collaborating directly with a retailer.
Access to finance has been identified as a significant barrier for farmers seeking to adopt sustainable practices. To address this, Tesco and NatWest are providing attractive funding solutions through Lombard, the UK's largest asset funder. Farmers will also receive support and expertise in decarbonizing their farms, covering various assets such as solar panels, wind turbines, and biomass boilers.
Dave Jones, Chairman of Tesco's Sustainable Dairy Group, highlighted the importance of financial assistance in implementing green technology on farms. He expressed enthusiasm for the collaboration between Tesco and NatWest, emphasizing its potential to reduce farm emissions and drive sustainability.
Peter Huish, Head of Consumer Industries at NatWest Group, underscored the initiative's contribution to the UK's climate goals and food security. He emphasized NatWest's commitment to providing sustainable funding and financing, aligning with Tesco's efforts to promote environmental responsibility.
Ashwin Prasad, Tesco Group Chief Commercial Officer, emphasized the food industry's role in balancing food security with environmental protection. He expressed confidence that the partnership with NatWest will empower farmers to invest in sustainable farming methods, ultimately contributing to a more sustainable future for agriculture.
The collaboration between Tesco and NatWest reflects a concerted effort to support UK farmers in adopting sustainable practices, thereby safeguarding the environment and ensuring the resilience of the agricultural sector.
