WELLINGTON, Oct 1 (NNN-AGENCIES) – New Zealand’s largest red meat producer, Silver Fern Farms, received one million NZ dollars (690,000 U.S. dollars) in co-funding, for a project to phase out coal to boost its commitment to greenhouse gas emissions reduction target and decarbonisation.
The funding came from the Government Investment in Decarbonising Industry (GIDI) fund, and the heat-pump conversion project worth 2.6 million NZ dollars (1.79 million U.S. dollars) will be conducted at the company’s Pareora processing site, south of Timaru city, in the South Island.
“Support from the GIDI fund means we can make significant capital investments in low carbon energy with certainty, and is a great example of how the private sector can collaborate with the government for climate-positive outcomes,” said Silver Fern Farms Chief Executive, Simon Limmer, today.
According to Limmer, the Pareora project is meant to reduce the environmental impact of the processing operations in the company, which is committed to reducing greenhouse gas emissions across its value chain.
“Our aim is to strongly position Silver Fern Farms as a leading climate-positive food brand,” said Limmer.
Silver Fern Farms has committed to a 1.5-degree science aligned target, to reduce combined Scopes 1 and 2 processing emissions by 42 percent, by 2030.
The Pareora project is the company’s third project under the GIDI fund and represents another important step in Silver Fern Farms’ commitment to playing a leading role in driving sustainability in the red meat sector.
Silver Fern Farms, jointly owned by China’s Shanghai Maling Aquarius Ltd and New Zealand’s farmer-owned Silver Fern Farms Co-operative, is New Zealand’s largest red meat producer and exporter, producing 30 percent of all beef, lamb and venison in the country.
New Zealand’s red meat industry is its largest manufacturing industry and the second largest goods exporter, according to the Meat Industry Association.– NNN-AGENCIES
