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Speaker 1: Now, as we discussed on the show yesterday, banks have

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Speaker 1: been busted refusing to bank various businesses refusing to give

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Speaker 1: them accounts, including two ladies who run a sex toy retailer.

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Speaker 1: And now it seems they're also threatening to pull lending

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Speaker 1: from some petrol station owners because these guys sell fossil fields,

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Speaker 1: and fossil fields are not cool anymore. Federated Farmers have

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Speaker 1: blown the whistle on this one in the National Board

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Speaker 1: member Richard McIntyre's with us. Now, hey, Richard, Hey, Heather,

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Speaker 1: So what's actually going on here? Have these guys who've

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Speaker 1: already got lending with their bank, these petrol station owners,

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Speaker 1: have they been told they have to pay it back

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Speaker 1: by a certain date?

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Speaker 2: Yeah, that's right. We've had quite a few petrol station

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Speaker 2: owners as you reach out to us with all the

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Speaker 2: stuff that we've been doing in the banking space, and yeah,

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Speaker 2: one of them has actually given us a letter from

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Speaker 2: Bendat as it was saying that they can have no

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Speaker 2: further lending from here on in and that they have

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Speaker 2: to begin repaying all of their debt and it has

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Speaker 2: to be repaid by twenty thirty. From then they may

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Speaker 2: have a transactional facility, but no further ending after that.

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Speaker 2: And we're getting anecdotal evidence that other banks are doing

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Speaker 2: the same thing as well. Within that leading there's a

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Speaker 2: reference to the net zero Banking Alliance, which being dead

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Speaker 2: and the other banks are part of.

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Speaker 1: Right. And how many gas stations are we talking about

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Speaker 1: here that you guys have heard from.

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Speaker 2: There's about half a dozen that have breached out to

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Speaker 2: us personally, but we're hearing from from various other sources,

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Speaker 2: you know, within the I guess the petrol station industry

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Speaker 2: that you know that there are a lot of a

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Speaker 2: lot of petrol stations affected by it. And so the

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Speaker 2: thing to be clear of here, this isn't about the

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Speaker 2: banks declining to fund oil and gas exploration or something

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Speaker 2: like that, or even the big petual chemical companies like

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Speaker 2: Mobile or Caltechs or whatever. You know. These are small

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Speaker 2: business owners that provide a service to New Zealanders in general,

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Speaker 2: and obviously our particular interests is real New Zealanders and

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Speaker 2: you know, so for the banks to actually be declined

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Speaker 2: to fund them and consider them to be negative while

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Speaker 2: the rest of it is actually considered them to be

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Speaker 2: a vital set, this is just ridiculous.

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Speaker 1: So this net zero Banking Alliance suggests that the banks

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Speaker 1: themselves have set themselves in climate targets and in order

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Speaker 1: to meet them, they have to stop banking problematic and

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Speaker 1: I put that in their quotes, but problematic businesses like

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Speaker 1: gas stations.

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Speaker 2: Yeah, that's correct. So back in I think it was

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Speaker 2: twenty twenty one in Glasgow, a whole lot of effectively

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Speaker 2: banks met up and signed this net zero Banking Alliance

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Speaker 2: and so part of the commitments to that were that

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Speaker 2: they needed to reduce their financed emissions and so that's

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Speaker 2: effectively you know, all the money that lends out the

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Speaker 2: emissions from them, and so this reduction of funding to

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Speaker 2: petrol stations is keeping within that commitment.

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Speaker 1: Now, how much is this guy going to have to

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Speaker 1: pay back to.

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Speaker 2: Be in z Oh, it's quite a few moment for

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Speaker 2: the particularly what I'm talking about, So it's not something

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Speaker 2: that's actually achievable within that time frame in terms of

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Speaker 2: from revenue. And what it also does is it reduces

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Speaker 2: the ability for for them to actually sell their business

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Speaker 2: and time when it's time for them.

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Speaker 1: To They're over a barrel, aren't they. They're over a

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Speaker 1: barrel because you can't pay that level of money back

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Speaker 1: in the next six years, and then you can't. In

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Speaker 1: order to pay it back, you'd have to sell. But

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Speaker 1: in order to sell, somebody else would have to be

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Speaker 1: able to take a loan, which they also can't get.

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Speaker 2: Correct and you know, well, you know, well, I don't

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Speaker 2: like what they're doing in general. You know, one of

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Speaker 2: the biggest problems is that they're doing it collectively, effectively,

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Speaker 2: having signed this alliance and then acting it in a

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Speaker 2: very very similar manner.

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Speaker 1: Yeah, yeah, Now this concerns you, guys, why because your

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Speaker 1: rural communities rely on these gas stations.

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Speaker 2: Exactly, you know, yeah, having services like petrol stations, and

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Speaker 2: obviously there's there's a bigger context here for farmers as well. Yeah.

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Speaker 1: Interesting, Richard, thanks very much, really appreciate it. This is

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Speaker 1: Richard McIntire, Federated Farmers National Board member. Here's a text hither.

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Speaker 1: I'm the chair of why tall More. The banks are

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Speaker 1: absolutely reducing or refusing to fund fuel companies, even though

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Speaker 1: we've got a hydrogen network, even though we've got electric charges,

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Speaker 1: even though we won their White Cuttle Sustainable Company Award

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Speaker 1: last week. Happy to chat, How crazy is that? It's

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Speaker 1: a crazy situation. But the world has gone crazy, hasn't it.

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Speaker 1: For more from the Mic Asking Breakfast listen live to

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