Nestle reportedly withdraws from methane accord
The ACT Party says media reports that global dairy giant Nestle has withdrawn from the Dairy Methane Action Alliance shows why New Zealand needs to rethink its approach to climate.
ACT won't back making the proposed sustainable finance taxonomy - a classification tool giving banks and investors guidance on how farms are delivering on sustainability - mandatory.
As ACT agriculture spokesman Mark Cameron says: "the whole idea is about of slapping farms with a red, amber or green label so the banks know which ones tick the 'right' boxes, according to a Wellington-approved definition of what's 'sustainable'."
Cameron says it might sound harmless if it stays voluntary.
"But the proposal spells it out: the plan is to make it mandatory down the track. That's where ACT says no."
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