Solid third quarter result for Fonterra
Fonterra has announced an improved third quarter performance – with a profit after tax of $1.15 billion, up $119 million on the same period last year.
Nestle says with two thirds of its global greenhouse gas emissions coming from agriculture, and half of that from dairy, there is a powerful need for action.
Nestle New Zealand country manager Jennifer Chappell says that's where its partnership with Fonterra comes in.
At the recent National Fieldays, Fonterra and Nestle announced a joint venture to develop a commercially viable net zero carbon dairy farm.
"This will require improvements right across farm operations to accelerate emission reduction & boost carbon storage, all while maintaining the excellent animal welfare standards New Zealand dairy farmers are known for," says Chappell.
"Ultimately, we want what we learn here to become part of mainstream farming practices to reduce climate impacts around the world as we aim to use our size and our scale to take a leadership role in advancing positive change everywhere we source dairy ingredients."
She points out that NZ dairy farmers have proudly been supplying Kiwis for generations.
"We benefit from an outstanding environment for making milk here - a terrific climate, good soil, and plenty of rain - so our cows already feed on pasture with a lower emission footprint.
"We're also a country proudly known for our innovation mindset and that's why it makes so much sense we're doing this farm trial right here, together.
"I stand on behalf of my colleagues all around the world when I say that at Nestlé we believe in the goodness of milk, we believe in New Zealand dairy, and in New Zealand dairy farmers, and we are thrilled to be embarking on this journey together."
Nestlé has been operating in NZ since 1885 and own global brands like KitKat, Nespresso, Maggi and Nescafé and also NZ favourites Scorched Almonds, Highlander milk, and Original Kiwi Dip.
Chappell says at Nestlé they appreciate that at the heart of good food, is the quality of the ingredients, the skill and the care of the people who produce them, and the quality of the soils and ecosystems in which they are grown.
"We have a long history of working with farmers around the world to help them farm productively and more sustainably.
"We're now building on that right here in New Zealand, as part of our global ambition to reach net zero emissions by 2050, an ambition we've backed with a detailed roadmap."
