Jameson Irish whiskey maker Irish Distillers is working with Bank of Ireland to offer Enviroflex sustainability-linked loans to tillage farmers for the very first time.
Enviroflex loans are designed to incentivise farmers to continue implementing sustainability focused improvements on their land.
Bank of Ireland developed a range of Enviroflex partnerships across the dairy sector last year and said the sustainability-linked financing will now be available to participants of Irish Distillers' Sustainable Green Spring Barley Scheme.
This scheme, launched in 2020, is a tailored sustainability programme for barley growers 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 an additional three to four measures which specifically have a direct and positive impact on biodiversity.
Graham Caulwell, Head of Sustainability and Compliance at Irish Distillers, said the company has a proud history of buying quality grain from Irish farmers to produce its whiskeys.
"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 said.
Eoin Lowry, Bank of Ireland Head of Agri Sector, said the bank was delighted to launch the Enviroflex partnership with Irish Distillers.
He said this marked the first time these loans have been made available to tillage farmers, and further supports the bank's stated ambition to make this product more widely available across the agriculture industry.
"A vast number of dairy farmers looking to enhance their farms sustainability have already availed of Enviroflex loans, and we now look forward to working with Irish Distillers to reward tillage farmers who implement more sustainable farming practises with discounted finance options," he added.
