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Watchdog says Fonterra must show farmers bang for buck on emissions cut demand
Fonterra's farmers will be leaning on the company to show the way regarding its emissions reduction target. The company will be pushed to show a financial carrot for asking its dairy farmers to reduce emissions by 30 per cent in six years.
Fonterra's move to reduce on-farm emissions is significant Fonterra has set a target to reduce emissions on the 9000 farms it works with. It is under pressure from overseas markets and big customers to improve sustainability. An MP from each side of the House gives their views.
The Country Full Show: Wednesday, November 22, 2023 Jamie Mackay catches up with Shane Jones to find out what job he's hoping for in the new Cabinet. The Harvard graduate comments on the Kennedy assassination (60 years on) Fonterra’s head of co-op affairs comments on last night's GDT auction - no change in index but WMP is up 1.9%.
The Country Full Show: Tuesday, November 21, 2023 Jamie Mackay catches up with Dr Jacqueline Rowarth, who stands up for Fonterra after Greenpeace went on the attack over its climate roadmap plan. Damien O’Connor and Colin Hurst debate the outgoing Government’s unworkable freshwater reforms. Tom Young talks about the challenging global red meat markets, with beef faring better than lamb and mutton.
Dr Jacqueline Rowarth: Scope 3 emissions - why Fonterra is on the right track Fonterra’s goal is to reduce scope 3 emissions associated with on-farm intensity by 30 per cent by 2030. Greenpeace accuses F onterra of “greenwashing’ because it overlooks the fact that organic systems rely on farmyard manure. The income stream for the country is supported through direct employment and exports.
Failed online supermarket Supie owed creditors $2.1 million Failed online supermarket Supie owed $2.1 million to more than 4000 creditors, a liquidators' report shows. Inland Revenue was owed almost $900,000, with smaller amounts owed to companies including Coca-Cola, Tegel, Foodstuffs and Fonterra. 89 of the 122 staff were still owed $120,797 in outstanding wages and holiday pay.
Supie collapse: Liquidators’ first report reveals why grocer failed, how much it owes Supie owes more than $2.1 million to 4181 unsecured creditors. These include NZ Post, Foodstuffs and Woolworths, Z Energy, New Zealand King Salmon, Allpress Espresso, Trade Aid Importers, NZME, Facebook New Zealand, the New Zealand Sugar Company, Kellogg’s and Coca-Cola Amatil. Other creditors include Warehouse Stationery, Heinz Wattie's and Fonterra.
Climate change: Westpac sets intensity-based emissions target for farms it lends to By 2030, farms Westpac has lent money to will need to have lower emissions. The bank has used the same intensity-style target Fonterra was criticised for using last week. Westpac is a member of the Net Zero Banking Alliance.
Fonterra gets shareholder green light for board cuts and directors’ pay rises Fonterra's farmer owners voted solidly in support of reducing the size of the dairy giant's board of directors. A board recommendation to Thursday’s annual shareholders meeting to reduce the number of directors from 11.
New Zealand's Fonterra flags challenging environment in... Fonterra said it was unclear whether strong demand for milk seen during recent global trade events would continue in the financial year 2024. The company raised its farmgate milk price forecast for fiscal 2024, after cutting the forecast range twice earlier.
The Country Full Show: Thursday, November 9, 2023 Jamie Mackay catches up with the outgoing Minister of Agriculture, Damien O’Connor, to take a look back at six years in the job. The President of Federated Farmers is “cautiously optimistic” about where Fonterra has landed with its long-awaited on-farm emissions reduction target. Our Australian correspondent talks about the Big Show, biting crocodiles, drought, and falling lamb prices.
Fonterra shooting for 30 per cent reduction in on-farm emissions over 2018-2030 Craigmore Sustainables' Te Awa dairy farm at Te Pirita in Canterbury is well ahead on the emissions reduction drive. Fonterra has announced its much-anticipated target for emissions reduction.
Sustainable Business and Finance: Get moving on future proofing Kiwi business Nigel Brinkworth is a third-generation dairy farmer from Walton, just outside of Morrinsville. He and his wife Krystle take part in Fonterra’s Tiaki Sustainable Dairying Programme. Westpac is assisting them through a discounted interest rate on a Sustainable Farm loan.
Fonterra’s annual meeting: Big shareholder crowd will be missing but plenty on agenda Dairy co-operative Fonterra has executed a recovery with a record $1.6 billion profit. But milk product demand is declining in China and farmers are facing financial pressure.
The Country Full Show: Friday, November 3, 2023 Jamie Mackay catches up with Emma Poole and Tim Dangen on The Country. Poole has been working for Fonterra for the last few months, helping to put together a roadshow to educate vets about supporting their farmers through the emissions journey. Dangan has been busy encouraging our best and brightest students to sample agriculture.
Fonterra completes sale of Brazil’s DPA Fonterra has completed the sale of Brazil's Dairy Partners Americas. The sale was first announced in December last year but was subject to regulatory approval. The DPA Brazil joint venture was owned 51 per cent by F onterra and 49 per centby Nestlé. The co-op sold the joint venture for BRL700 million - about $240 million at current exchange rates.
Microscope to go on Fonterra’s planned big spend on ‘growth’ projects, warns report Farmer-owned Fonterra is New Zealand's biggest business. Its planned spend on ‘growth’ projects is estimated to be more than $250 million a year.
Fonterra science optimistic about finding cow methane reduction biotool - CEO Finding a solution to methane release will be ‘a huge unlock’ for dairy farmers’ emissions profiles. Fonterra scientists were working with a probiotic.
Farmers struggling with fuel costs Rising fuel costs are starting to bite deep into dairy farmer earnings. Diesel bills running to tens of thousands of dollars over a year. Fonterra's increased $7.25 midpoint for its milk price forecast still below Dairy NZ’s expected $ 7.65 break-even point.
‘We did it’: First fully certified organic milk leaves Te Miro Farm in Norsewood Te Miro Farm near Norsewood has been converted from a conventional operation into an organic one in their five years of ownership. The farm has recently qualified for Certified Canada, which is the highest organic certification. They are now able to supply their milk to Fonterra under the fully certified organic status.
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