Banks are intruding into agricultural emissions policy, whether we voted for it or not.
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Call on Parliament's inquiry to tell the banks to back off.
Sign the petition

The banks and the financial system are becoming de facto enforcers of exactly the kind of unworkable emissions regulations that we voted against at the election, just when the Government is coming around on the facts about how agricultural emissions are a cycle and different to other industries.

Just like with the Farming Tax, unworkable and counterproductive regulations on farmers means higher food costs for everyone and doesn’t help the climate.

Pushed by mandatory disclosure regulations about their lending portfolios’ emissions profiles and then the policies of foreign groups like the Net-Zero Banking Alliance, banks are starting to demand emissions information from farmers, and we hear they’re denying farmers credit to keep their emissions profile down.

This is on top of rural lending interest rates running at a 2% premium to other lending, with no justification from increased risks or costs.

It’s time to tell the banks to back off, and Parliament’s inquiry into banking is just the place to do it.

Sign our petition calling on the inquiry to take action on the banking sector’s treatment of food producers and rural communities.

Sign the petition

About the campaign.

Click on a question to read more
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What are banks doing on emissions?

Rural lending costs more than other kinds and credit availability for farmers is becoming a problem. We hear this is because banks have to declare the emissions in their lending portfolios and they want their reports to look better, while their calculations are based on outdated metrics like GWP100 that overstate the effect of agricultural emissions, especially methane.

Isn't this just a commercial issue for farmers to deal with?

These problems aren’t being caused by market forces – it’s government policy and pressure from anti-food production campaigners. It also affects everyone, as tougher regulations on farmers, wherever they come from, mean higher food prices.

Are banks just enabling government policy?

Agricultural emissions are a complicated and evolving science and even the relevant government departments struggle with it. Case in point, the Government is about to hold a review of methane science because so much is up in the air. Banks are not equipped to make decisions on emissions and are basing their calculations on outdated models.

What could the inquiry do?

A parliamentary inquiry can get all the relevant players together and make them answer questions, as well as hear from anyone who wants to submit.

Select committee reports can turn into changes to regulations and laws, as they provide authoritative findings for ministers and MPs to act on and for us to campaign about.

What happened with the earlier parts of this campaign?

This campaign has always been about getting banks out of meddling with agricultural emissions policy that they don’t understand, and it’s been successful so far.

You may have seen earlier iterations first calling for an inquiry and then asking for banks’ emissions policies to be included in the inquiry. Now, we’re telling the inquiry to take action.

Campaign Timeline (so far!)

February - June 2024
Parliament’s Primary Production Committee holds a briefing into rural lending.

May - June 2024
Groundswell and others call for a full inquiry into rural banking, with Groundswell demanding action on banks’ mishandling of agricultural emissions.

13 June 2024
The Government asks the Finance and Expenditure Committee and the Primary Production Committee to inquire into the banking sector.

June 2024
Thousands of Groundswell supporters email MPs asking for emissions policy to be included in the inquiry.

14 August 2024
Terms of reference are published for the inquiry, including Groundswell’s requested investigation of banks on emissions policy.

Now
We're calling on you to support our submission to the inquiry by signing our petition.

Live Petition

Tell the banks to back off.

Sign the petition

I call on Parliament's inquiry into banking to tell banks to back off on agricultural emissions, including:

  • repealing Mandatory Climate Related Disclosures,
  • ending the Reserve Bank's higher capital holding rules for rural lending, and
  • telling banks they don't know what they're doing on agricultural emissions
Thank you for signing the petition. Your voice will lend weight to Groundswell's submission.

Campaigns such as these require time and money, and Groundswell doesn't have the resources of the political parties and levy bodies. If you're able, please consider making a secure donation to support our work.
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