Net Zero Banking Alliance suspension a win for farmers and common sense

“The suspension of the UN’s Net Zero Banking Alliance is a victory for Kiwi farmers and exporters who’ve been unfairly targeted by woke banking practices,” says ACT Rural Communities spokesperson Mark Cameron.

“This comes after major banks in the United States, Canada, and Australia ditched the alliance, recognising it for what it is – a bullying cabal of financial wokeism. I've been calling for New Zealand’s banks to follow suit, and now it looks like the choice has been made for them.

"Aligning lending decisions with UN climate ideology only hurts our most productive industries. Farmers who feed 40 million people have been treated as villains by overseas bureaucrats who’ve never set foot in a paddock. Kneecapping them only forces food production offshore to less efficient countries.

“ACT welcomes this development, but the fight isn’t over. We must ensure our own banks don’t try to resuscitate these arrangements under another name. Credit and investment decisions should be based on business fundamentals, not politics."