Silver Fern Farms has entered into one of New Zealand’s largest sustainability-linked working capital financing facilities. At $320million, the sustainability-linked financing had been tailored to the challenges faced by the red meat industry and would further enable Silver Fern Farms to grow while delivering on the company’s transformative sustainability agenda, the company said in a statement. As part of the sustainability-linked financing, Silver Fern Farms would receive financial incentives as it delivered pre-agreed and pre-defined sustainability targets including:- Adoption of the comprehensive New Zealand Farm Assurance Programme Plus (NZFAP+) by Silver Fern Farms suppliers. “Sustainability-linked financing of this size is a significant step for Silver Fern Farms and emphasises our commitment to respond to the rise of conscious consumers and create new forms of value for farmers. The sustainability-linked financing was provided by a syndicate of lenders comprising ANZ, Bank of China, BNZ, Citibank and Rabobank.

Source: Otago Daily Times June 10, 2022 04:36 UTC