Centre for Climate Action Joint Venture unveils latest investment in methane measurement facility and new trading name of AgriZeroNZ
AgriZeroNZ is unique because of the breadth of its sector expertise and commercial focus. We’re focusing on investment in tools that will work on New Zealand’s pasture-based farms, we’re taking calculated risks and significantly scaling-up efforts made to date by Kiwi farmers.
The announcements were made alongside Prime Minister Chris Hipkins, Agriculture Minister Damien O’Connor and Miles Hurrell, the Chief Executive of Fonterra, an AgriZeroNZ agribusiness shareholders.
The newly named AgriZeroNZ is a world-first investment fund established between Government and major agribusiness companies to help pasture-based farmers in Aotearoa New Zealand reduce their agricultural emissions.
AgriZeroNZ shareholders are ANZCO Foods, Fonterra, Rabobank, Ravensdown, Silver Fern Farms and Synlait, many of the largest players in New Zealand agribusiness owning 50%, with the other 50% owned by the Crown through MPI.
Executive Director Wayne McNee says the new name reflects the company’s bold ambition to ensure all farmers in Aotearoa have equitable access to affordable, effective tools to reduce biogenic methane and nitrous oxide emissions, supporting a 30% reduction of emissions by 2030 and enabling development and adoption of solutions to drive towards ‘near zero’ by 2040.
“AgriZeroNZ is a name that embodies our role which is to take the pressure off Kiwi farmers by making sure that they have equitable access to affordable and effective tools and technology cut their methane and nitrous oxide emissions, while maintaining efficiency, production and profitability.
“We are doing this by bringing together many of the largest players in industry and government in New Zealand, and positioning AgriZeroNZ as a partner of choice. Our success will drive the continued success of New Zealand agriculture, while contributing to New Zealand’s broader efforts to reduce greenhouse-gas emissions.”
AgriZeroNZ’s third investment announced today includes a $4 million investment towards a methane measurement facility to be constructed at the Massey University dairy research farm in Palmerston North that will house twelve new cattle respiration chambers and associated infrastructure.
The AgriZeroNZ investment is in addition to $11.7 million from Government, $2 million from AgResearch, and support from Massey University who will supply the land. The facility will scale up the research capacity in New Zealand for detailed measurement of biological agricultural emissions from cattle.
McNee says “one of the primary functions of AgriZeroNZ is unblocking constraints to the development of emissions reduction tools and technology in New Zealand and providing system-wide funding to deliver facilities and infrastructure to support the industry in its drive to reduce greenhouse gas emissions. This investment in the methane measurement facility will provide a huge boost to research capacity for New Zealand agri-researchers.