Nestlé partnership sees extra payment offered to Fonterra farmers this season
Source: The DairyNews
In a strategic move to bolster on-farm sustainability, Fonterra and Nestlé mark the one-year anniversary of their collaboration by unveiling a progressive initiative to further support farmers in their journey towards sustainability.
The latest agreement involves Nestlé providing additional funding to farmers achieving one of the three levels outlined in Fonterra's The Co-operative Difference framework for the 2023/24 season. Fonterra anticipates an extra payment of approximately 1-2 cents per kilogram of milk solids for qualifying farmers, contingent upon the number meeting the specified sustainability criteria.
Fonterra CEO, Miles Hurrell, expresses gratitude for Nestlé's ongoing commitment to supporting farmers dedicated to continuous improvement in on-farm sustainability.
"We are thrilled to collaborate with Nestlé in recognizing our Co-op's farmers who are leading the way in industry best practices. Through this partnership, we can collectively pursue sustainable growth and work towards producing lower carbon milk in the future," says Mr. Hurrell.
Globally, Nestlé is investing 1.2 billion Swiss Francs (NZD 2.25 billion) by 2025 to promote regenerative agriculture and reduce emissions, aiming to source 50% of their ingredients through regenerative agriculture methods by 2030.
Jennifer Chappell, Nestlé New Zealand CEO, emphasizes the significance of working not only with processors but also with farmers who share a vision for sustainable practices.
"Nestlé has a century-long history of sourcing dairy from New Zealand, and we remain dedicated to supporting farmers, alongside our partners, in creating new economic opportunities and reducing greenhouse gas emissions."
Fonterra's ambition to achieve net zero by 2050 aligns with Nestlé's goals, including a 30% intensity reduction in on-farm emissions by 2030. Chappell sees this collaboration as a catalyst for greater action within the dairy industry and a just transition that maximizes economic opportunities amid the shift to lower emissions.
Fonterra CEO, Miles Hurrell, expresses gratitude for Nestlé's ongoing commitment to supporting farmers dedicated to continuous improvement in on-farm sustainability.
"We are thrilled to collaborate with Nestlé in recognizing our Co-op's farmers who are leading the way in industry best practices. Through this partnership, we can collectively pursue sustainable growth and work towards producing lower carbon milk in the future," says Mr. Hurrell.
Globally, Nestlé is investing 1.2 billion Swiss Francs (NZD 2.25 billion) by 2025 to promote regenerative agriculture and reduce emissions, aiming to source 50% of their ingredients through regenerative agriculture methods by 2030.
Jennifer Chappell, Nestlé New Zealand CEO, emphasizes the significance of working not only with processors but also with farmers who share a vision for sustainable practices.
"Nestlé has a century-long history of sourcing dairy from New Zealand, and we remain dedicated to supporting farmers, alongside our partners, in creating new economic opportunities and reducing greenhouse gas emissions."
Fonterra's ambition to achieve net zero by 2050 aligns with Nestlé's goals, including a 30% intensity reduction in on-farm emissions by 2030. Chappell sees this collaboration as a catalyst for greater action within the dairy industry and a just transition that maximizes economic opportunities amid the shift to lower emissions.
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