Fonterra, Sharesies join to make share trading easier
Fonterra is teaming up with wealth app provider Sharesies to make it easier for its farmer shareholders to trade co-op shares among themselves.
Fonterra is installing a $36 million 20-megawatt electrode boiler at its Edendale site in Southland, as the co-op moves away from coal.
The electrode boiler will reduce the Edendale site's emissions by around 20% or 47,500 tonnes of carbon dioxide equivalent per annum - the equivalent of taking almost 20,000 cars off NZ roads.
It will also help reduce Fonterra's overall carbon emissions from its NZ 2018 baseline by nearly 3% per annum once operational in 2025-26.
Fonterra says the investment is another step for the co-operative as it works to get out of coal by 2037 and reduce Scope 1 and 2 emissions by 50% by 2030 (from 2018 baseline).
Fonterra acting chief operating officer Anna Palairet says the team considered a number of energy options before deciding on the electrode boiler.
"Fonterra has a complex manufacturing operation spanning the country.
"As technologies develop, it's important we continually assess which energy source and technology is best for each site.
"With up to 15 million litres of milk being processed at our Edendale site each day, we need to ensure we have a secure energy supply that can meet processing demands."
Cost is also an important consideration.
Palairet says getting out of coal requires significant investment and the co-op needs to choose the best option that reduces emissions and operational complexity while also doing what's best for farmer shareholders.
Fonterra is partnering with Meridian Energy for the electricity supply who generate electricity from 100% renewable resources - wind, water, and sun.
Trade Minister Todd McClay says New Zealand has no intention of backing down in a trade dispute with Canada over dairy products.
There have been leadership changes at the Hamilton-based Dairy Goat Co-operative, which has been struggling financially in recent years.
Horticulture NZ chief executive Nadine Tunley will step down in August.
OPINION: In recent years farmers have been crying foul of unworkable and expensive regulations.
Another 16 commercial beef farmers have been selected to take part in the Informing New Zealand Beef (INZB) programme designed to help drive the uptake of genetics in the industry.
Trade Minister Todd McClay says Kiwi exporters will be $100 million better off today as the NZ-EU Free Trade Agreement (FTA) comes into force.
OPINION: The new government has clearly signalled big cuts across the public service.
OPINION: Your canine crusader is not surprised by the recent news that New Zealand plant-based ‘fake meat’ business is in…