Divestment means Fonterra can focus on its strengths
OPINION: Fonterra's board has certainly presented us, as shareholders, with a major issue to consider.
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.
Meat co-operative, Alliance has met with a group of farmer shareholders, who oppose the sale of a controlling stake in the co-op to Irish company Dawn Meats.
Rollovers of quad bikes or ATVs towing calf milk trailers have typically prompted a Safety Alert from Safer Farms, the industry-led organisation dedicated to fostering a safer farming culture across New Zealand.
The Government has announced it has invested $8 million in lower methane dairy genetics research.
A group of Kiwi farmers are urging Alliance farmer-shareholders to vote against a deal that would see the red meat co-operative sell approximately $270 million in shares to Ireland's Dawn Meats.
In a few hundred words it's impossible to adequately describe the outstanding contribution that James Brendan Bolger made to New Zealand since he first entered politics in 1972.
Dawn Meats is set to increase its proposed investment in Alliance Group by up to $25 million following stronger than forecast year-end results by Alliance.
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