Natwest Group and WWF have announced a new strategic partnership to help drive a sustainable transition for the UK food and agricultural sector, which will see the bank commit £7 billion to the sector.
It follows a report by Natwest which found that 82% of farmers want to embrace new sustainable techniques and measures, but highlighted the need for financial backing.
The UK government has sought to address the problem with its Sustainable Farming Incentive 2023, which allows farmers to pick which sustainability-centred activities they will be remunerated for.
“With UK nature in freefall, there is no true food security without tackling climate change and protecting and restoring the natural world which underpins our farming system,” said WWF ceo Tanya Steele.
“Our shared vision is for flourishing farming sector that is equipped to achieve a net-zero future bursting with life, where growers and producers get a fairer share of the market and are supported with sustainable, long-term financing.”
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“Farmers are eager to embrace a new world of lower emissions and nature restoration, not least because it is in the long-term interests of their sector. But they need support and certainty to make it a reality. WWF and NatWest Group understand that productivity and sustainability can go hand in hand, and that more and more customers and consumers expect it.”
Natwest ceo Alison Rose said: “The UK agriculture sector is at a turning point – facing higher costs, declining production and supply chain issues, whilst also trying to reduce their climate emissions.”
“The industry needs collective action for a sustainable and secure future. So we’re delighted to be partnering with WWF to mobilise public and private investment into climate and nature friendly farming, ensuring that our farmers are properly supported throughout.”
“Our shared vision is for flourishing farming sector that is equipped to achieve a net-zero future bursting with life, where growers and producers get a fairer share of the market and are supported with sustainable, long-term financing.”
“Natwest has committed nearly £7 billion of total funding to agriculture to date, and we will continue standing side-by-side with farmers to give them the support they need to invest in their transition.”
