NatWest and WWF will work to bring together players across the food and agriculture sectors in the UK. The aim is to channel and scale private and public finance to support farmers to achieve climate and nature goals. This includes calling on government to reform agricultural payments. The collaboration will provide guidance advice and tools to help deliver transition plans in the UK food and agriculture sectors.
Farmland covers 70% of the UK and agriculture accounts for 11% of UK climate emissions. As this figure is likely to rise further, agriculture is a crucial player in tackling the climate and nature crises. It is, argues NatWest, a sector which needs immediate funding, support and guidance to adopt climate and nature friendly practices to become economically and environmentally resilient for the future.
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The strategic partnership follows a report published in May by NatWest. It revealed that 82% of farmers want to embrace the climate and nature challenges and transition their growth. But they need support to do this.
WWF’s vision for UK farming is set out in its Land of Plenty report. The vision is for a net-zero world bursting with life, where the connections between the food people eat and how it has been produced are re-established. Where growers and producers get a fairer share of the market, where nature thrives within and outside farmland and where shifts in diets support high quality food from circular, regenerative systems.
NatWest commits £7bn lending to agriculture sector
Alison Rose, CEO, NatWest Group said: “The UK agriculture sector is at a turning point. It is facing higher costs, declining domestic 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.
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By GlobalData“NatWest has committed nearly £7bn of total funding to agriculture to date. We will continue standing side by side with farmers to give them the support they need to invest in their transition.”
Tanya Steele CEO, WWF added: “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. Our shared vision is for a 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.
“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 understand that productivity and sustainability can go hand in hand, and that more and more customers and consumers expect it.”
