Rewarding farmers who embrace sustainability
Winners of DairyNZ’s Sustainability and Stewardship awards in the Ballance Farm Environment Awards have their eyes firmly fixed on progressing a positive future for New Zealand dairy.
The Institute of Directors has developed a due diligence guide for directors in farming enterprises in conjunction with DairyNZ.
The guide, known as Farming Directorships: A due diligence guide for directors, has been produced to help prospective independent directors understand the nature of the business as part of their preparation in deciding whether to join a farming company board.
It can also be used as a framework for considering farming advisory board appointments.
IoD chief executive Simon Arcus says being an independent director on the board of a farming company can provide a rewarding opportunity to add value to one of the country's largest and most important commercial sectors.
"The guide is about equipping prospective directors and advisors in the rural sector with the best knowledge to enter the environment. If I ran a farming concern I'd give a prospective director a copy too," Arcus says.
"There is growing recognition of the important role that governance structures and long term thinking play in the creation and protection of shareholder value in farming businesses. Good governance is about making the business meet its potential. It means having strategic plans for the future that anticipate the good and bad times ahead."
IoD Waikato branch chair Margaret Devlin says the branch was honoured to launch the guide as it celebrates 25 years in the Waikato.
"The Waikato branch has been involved in supporting the development of this guide from the beginning, and look forward to the difference it will make to farming business success," Devlin says.
"The guide highlights key issues in farming businesses, and raises key questions for prospective directors to ask, and can be useful for any farming business."
Arcus says agri-business is fundamental to the New Zealand economy. Farming businesses are no different from any other businesses.
"Bringing on an independent director can help grow the business for the long-term."
The Ministry for the Environment (MfE) has found itself in a stoush with NZPork over the controversial National Policy Statement for Highly Productive Land (NPS-HPL).
Fonterra says the sale of its global consumer business and its Oceania and Sri Lankan operations could take 18 months to complete.
The lobby group the Methane Science Accord (MSA) says it welcomes a recent government move to seek outside advice on reducing biological methane targets, rather than relying on recommendations made by the Climate Change Commission.
Well-known scientist Jock Allison has passed away.
After a decade of consultation and court battles, Environment Southland has officially adopted a plan to prevent further decline in the region's water quality.
Farmers are throwing down the gauntlet to politicians - hold an independent inquiry into rural bank lending or face tough questions from the farming sector.
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