Sustainability-linked loans now available to members of the independent, farmer-owned Co-operative Society.
Kanturk-based North Cork Creameries has forged a partnership with Bank of Ireland to offer the Bank’s Enviroflex sustainable loan package to its members.
Following a successful launch of Enviroflex last year, the sustainability-linked loans are now available to North Cork Creameries milk suppliers who are actively engaged in implementing a range of sustainable initiatives to reduce their farms’ environmental footprint.
“Enviroflex offers milk suppliers targeted finance that will support on-farm environmental initiatives and will also help North Cork Creameries meet our own environmental targets”
Since first launching in November 2023, Enviroflex has proven popular with dairy farmers, with discounted flexible finance provided to farmers conducting milking parlour upgrades, installing wastewater and slurry storage facilities, and investing in renewable and solar technologies.
Reducing carbon footprint on farms
Eligible milk suppliers must be North Cork Creameries members and participants in the Bord Bia Sustainable Dairy Assurance Scheme and will also need to undertake a number of sustainable actions on their farms.
“North Cork Creameries is delighted to work with Bank of Ireland to offer Enviroflex to our members, an innovative financial product that rewards sustainability actions implemented on farms,” said Pat Sheahan, CEO of North Cork Creameries.
“Enviroflex offers milk suppliers targeted finance that will support on-farm environmental initiatives and will also help North Cork Creameries meet our own environmental targets.”
As the leading lender to Ireland’s agriculture industry with more than 82,000 farm customers on its books, the Enviroflex product furthers Bank of Ireland’s ambition of becoming a leader in providing sustainable finance solutions to Irish farmers that are carefully designed to help make real, impactful changes.
“As the leading agri-lender Bank of Ireland is delighted to welcome North Cork Creameries to the Enviroflex scheme,” said Pat Byrnes, Agri Development manager with Bank of Ireland.
“A huge number of farmers looking to enhance their farms sustainability have already availed of this innovative product, as they look to boost cashflow and finance on-farm developments. Our aim in developing Enviroflex has always been to make it available to as many farmers as possible across the Irish agriculture industry and to reward farmers for their sustainability actions.”
Main image at top: Pictured at the launch of North Cork Creameries new Enviroflex partnership with Bank of Ireland are; Jamie Curtin, Darren Deasy and Thomas O’ Donoghue (Chairman), North Cork Creameries; Kevin Maher, Dairy Industry Ireland; Sean Corcoran, North Cork Creameries; Pat Byrnes, Bank of Ireland Agri Development Manager; Luke Lynch, Norma O’ Gorman and Maurice O’ Connor, North Cork Creameries.
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