Kerry Dairy and Bank of Ireland join forces on sustainability-linked loans.
Bank of Ireland, in partnership with Kerry Dairy Ireland, has launched Enviroflex sustainability-linked loans to provide an additional funding option for farmers implementing sustainable farming practices.
Enviroflex is now live for applicants, as Bank of Ireland works to lead the green transition in the Agri industry by providing discounted flexible finance for farmers.
“Bank of Ireland, as the leading lender to Ireland’s agriculture industry with over 82,000 farm customers on its books, plays a key role in supporting the sector’s transition to lowering its environmental footprint”
Initial applicants will come from suppliers to Kerry Dairy Ireland who are participants of its ‘Evolve Sustainability Programme,’ and are carrying out environmental sustainability measures on their farms.
Supporting sustainable farming
The new product continues Bank of Ireland’s tradition of supporting farmers in an evolving sector, looking to reduce their farms environmental footprint, increase forestry and tree planting, and improving biodiversity, water quality and animal welfare practises.
“Bank of Ireland, as the leading lender to Ireland’s agriculture industry with over 82,000 farm customers on its books, plays a key role in supporting the sector’s transition to lowering its environmental footprint,” said Eoin Lowry, head of Agri at Bank of Ireland.
“Targeted products like Enviroflex are designed to reward farmers who implement more sustainable farming practises with discounted finance options, and we are delighted that Enviroflex is now open for applications from Kerry Dairy Ireland suppliers. Applicants can avail of a simplified online journey, and we look forward to making this product available to more farmers across the agriculture industry in 2024.”
The partnership, which is underpinned by Bord Bia’s Origin Green Sustainability Programme and the Teagasc Marginal Abatement Cost Curve (MACC), promotes and rewards accelerated sustainable action at farm level.
“Kerry Dairy Ireland is delighted to partner with Bank of Ireland in delivering Enviroflex, an innovative financial product,” said James O’Connell, general manager, Kerry Agribusiness.
“Enviroflex, as a sustainability linked loan, enhances our objective of facilitating and accelerating the adoption of more sustainable farming practices.”
Main image at top: James O’Connell, General Manager Kerry Agribusiness and Eoin Lowry, Head of Agri Sector, Bank of Ireland pictured in a pasture of ryegrass, clover and plantain on McCarthy’s farm in Castleisland, Co. Kerry