Westpac bank has set a target for cutting the emissions of the farms it lends to. By 2030, farms it has lent money to will need to have 9 per cent lower emissions per kilogram of meat for sheep and beef, and 10 per cent lower per kilo of milk for dairy. That is off a 2021 baseline. BNZ has already set a target of cutting by 11% the climate impact-per-kilo of food produced by its farmer customers, by 2030. ASB and ANZ’s parent banks have also signed up to the alliance and will need to produce targets in the next couple of years.
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