The Clean Energy Finance Council (CEFC) is backing for a $300 million co-finance program with NAB to cut the borrowing costs of manufacturers, businesses and farmers as part of Australia’s transition to net zero emissions.
The CEFC commitment coincides with the launch of Towards Net Zero Agriculture Pathfinder, a practical online resource co-developed by the CEFC and Australia’s national science agency, the CSIRO.
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The $300 million CEFC commitment is backing discounted interest rates for eligible borrowers via two tailored NAB programs: the NAB Green Finance for Vehicles and Equipment program, and the NAB Agribusiness – Emissions Reduction Incentive program.
CEFC head of natural capital Heechung Sung said, “We are excited to be working with NAB on delivery of this discounted finance to farmers, drawing on the skills and connections of NAB’s extensive network of agribusiness bankers.
“The agriculture sector is at the heart of the net zero transition, with challenging climate conditions impacting Australia-wide. Equally, we see enormous opportunity. In lowering their carbon footprint, farmers can become more resilient to climate change while also lifting the appeal of their produce, as consumers increasingly preference sustainable products.
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“Our new Pathfinder resource supports a whole-of-farm approach to emissions reduction. By drawing on the considerable experience and expertise of the CSIRO, we’re providing farmers with access to credible information about how to establish their baseline emissions and chart an action plan to lower their emissions. And together with NAB, we’re giving farmers access to discounted finance to support their long-term investment decisions.”
For more information, or to try out the Pathfinder tool, please visit:
