Irish Distillers and BOI offer sustainability loans to tillage farmers
Irish Distillers is partnering with Bank of Ireland (BOI) to offer sustainability-linked loans to tillage farmers for the first time.
Enviroflex loans are designed to incentivise farmers to continue implementing sustainability focused improvements on their land.
Bank of Ireland has already developed a wide range of Enviroflex partnerships across the dairy sector throughout 2024.
Irish Distillers is the first to partner with Bank of Ireland to support the roll-out of these loans to the tillage sector.
The sustainability-linked financing will be available to participants of Irish Distillers’ Sustainable Green Spring Barley Scheme.
Launched in 2020, the Sustainable Green Spring Barley Scheme is a sustainability programme for barley growers.
The scheme aims to support the long-term viability of the spring barley sector in Ireland by incentivising and rewarding growers for delivering environmental and biodiversity initiatives on their farms.
To qualify for an additional financial premium as part of this scheme, barley growers are required to implement eight essential measures, and must also choose several additional measures which specifically have a direct and positive impact on biodiversity.
Graham Caulwell, head of sustainability and compliance, Irish Distillers said they were "proud to partner with Bank of Ireland to provide further funding options to tillage farmers".
“Irish Distillers has a proud history of buying quality grain from Irish farmers to produce our whiskeys and we are committed to working in partnership with our growers to respond to the challenges of climate change and to promote sustainable agriculture through initiatives such as our Sustainable Green Spring Barley Scheme," he added.
Eoin Lowry, Bank of Ireland head of agri sector said that "a vast number" of dairy farmers looking to enhance their farms sustainability have already availed of Enviroflex loans.
"We now look forward to working with Irish Distillers to reward tillage farmers who implement more sustainable farming practises with discounted finance options," he said.
