“A more sustainable farm is a more efficient farm.”
That was one of the messages from head of agriculture at Bank of Ireland Eoin Lowry at a live recording of the Irish Farmers Journal’s Tillage Podcast at the National Ploughing Championships.
Lowry explained that Bank of Ireland is “supporting farmers to become more efficient, more sustainable and more green on their farm” through their sustainability-linked ‘Enviroflex’ loans.
These loans are available to all farmers who are part of a sustainability scheme.
Regenerative farming
For tillage farmers, this means being a participant in Boortmalt’s regenerative farming programme or Irish Distillers’ sustainable green spring barley scheme.
This means that farmers who are undertaking actions such as minimum tillage, cover cropping or using protected urea as part of these schemes are being rewarded through access to these variable-rate loans.
While these are the only two tillage schemes included at present, Lowry commented that “we are open to other processors and co-ops that develop sustainability schemes for tillage farmers that meet our criteria”.
“Farmers want to protect the future of their business and we want to reward that,” Lowry added.
“If a farm is using the same resources more efficiently, that will deliver more profit at the end of the day on that farm.
“Ultimately, the key thing for banks is risk. We see that business as less risky.”
Listen to the full interview with Eoin Lowry on Thursday’s episode of the Tillage Podcast.
SHARING OPTIONS