Fonterra will contribute up to $50 million over the next four years in a public private partnership that’s working to find a solution to biogenic methane.
Formally launched at National Fieldays the Joint Venture (JV) includes the Government and partners from across the food and fibre sector – ANZCO, Fonterra, Rabobank, Ravensdown, Silver Fern Farms and Synlait.
Speaking at the launch, Fonterra CEO Miles Hurrell said New Zealand’s low carbon position means the country has a good base to build on, but we need to do more.
“We must find a solution to biogenic methane if New Zealand is to maintain its competitive advantage on a global scale, and we all know we can achieve more by working together.
“Finding a solution means we will have an opportunity to continue to provide some of the most emissions efficient dairy in the world, along with a solution that could benefit the planet – that is a great position for us to aim for.”
Fonterra already has some work underway with its research and development centre having in partnership with others, 18 different projects and 30 trials underway.
Mr Hurrell says the JV will enable the Co-op to accelerate some of these projects where it makes sense and look across the industry to see what else we can do.
“By doing this we will provide the tools our farmers need to ensure the enduring future of their businesses and that we meet our net zero ambitions.
“That’s what sustainability is about, creating long term resilience, and farmers across the country are looking to us to help with this.”