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Speaker 1: Heather Duplessy La Right now, as I was telling you,

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Speaker 1: wes Pac has set tougher climate targets for our dairy

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Speaker 1: farmers in New Zealand than it has for the Aussie counterparts.

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Speaker 1: So they want to reduce the emissions of all the

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Speaker 1: dairy farms by ten percent. This is the ones they

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Speaker 1: finance by twenty thirty. So the Ossie farmers need to

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Speaker 1: get their emissions down to zero point eight five tons

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Speaker 1: of carbon per ton of milk, but Krewe farmers need

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Speaker 1: to get theirs down to zero point seventy five, which

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Speaker 1: is a lot lower. Richard McIntyre is the banking spokesperson

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Speaker 1: for Federated Farmers and with us. Now, hey Richard, Hey, Heather,

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Speaker 1: why are they doing this?

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Speaker 2: Oh look, it's a case of over each and double

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Speaker 2: standards unfortunately from the banks. Yeah. Look, you know, we

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Speaker 2: really do question why, exactly why they would be wanting

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Speaker 2: to do this. You know, what's the bank's place being

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Speaker 2: involved in setting emissions targets for anyone in all reality?

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Speaker 2: You know, as farmers, we've already got the government sitting

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Speaker 2: targets for us, and we've also got our processes and

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Speaker 2: meat companies sitting targets for us, So what's the bank's

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Speaker 2: place within this? It makes no sense.

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Speaker 1: Yeah, I agree with you on that, But what is

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Speaker 1: their argument for why they're going harder on key we

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Speaker 1: dairy farmers? Is it because they are saying it's a

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Speaker 1: ten percent cut for each and a ten percent cut

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Speaker 1: just lands there? Is that what it is?

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Speaker 2: Yeah, that's right. So I guess they're trying for the

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Speaker 2: same amount of reduction across both industries. But the fact

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Speaker 2: of the matter is we're so much more efficient than

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Speaker 2: the Australian dairy farmers are, and so we've already pulled

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Speaker 2: so many levers that there are to be pulled through

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Speaker 2: the efficiency gains that we've had, and it's a lot

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Speaker 2: harder for us to make these reductions. So it's really

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Speaker 2: just a case of double standards from the back.

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Speaker 1: Okay, have they explained this to you?

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Speaker 2: No, not very well. We're still waiting for a little

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Speaker 2: bit more detail as to exactly why they've done it

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Speaker 2: like this, how they expecting us to be able to

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Speaker 2: achieve that, and probably more importantly, exactly how they intend

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Speaker 2: to enforce it. You know, are they going to begin

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Speaker 2: putting excessive pressure on farmers that are struggling to pull

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Speaker 2: enough leavers to meet their targets. Is it going to

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Speaker 2: put more stress on farming families?

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Speaker 1: Yeah, well, what's the most likely way of enforcement? Isn't

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Speaker 1: it to just pull the lone give.

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Speaker 2: The look exactly? You know, the Banking Inquiry shows that,

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Speaker 2: you know, farming families are under so much pressure from

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Speaker 2: banks at the moment due to various factors, and this

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Speaker 2: is yet another one that the banks are putting on

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Speaker 2: farmers which is really just very unfair.

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Speaker 1: Is the Banking Inquiry going to get into this?

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Speaker 2: I really hope so it's Sydney in our submission. You know,

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Speaker 2: I think all the discussion about CEO's salaries is really

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Speaker 2: just a sideshow. And you know, I really hope the

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Speaker 2: Banking Inquiry or the Select Committee, you know, focus on

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Speaker 2: issues like this so that we can dig down into it,

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Speaker 2: understand why, and really hold the banks to account around this,

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Speaker 2: because you know, it serves no benefit beyond you know

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Speaker 2: what virtue signaling. As far as I'm concerned, mate.

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Speaker 1: I'm with you on this. Thank you very much. Richard McIntyre,

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Speaker 1: Federated Farmers Banking spokesperson. For more from Hither Duplessy Allen

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