Virgin Money launches £200m Net Zero fund for farmers

Virgin Money has launched a £200m fund to support farmers to transition to Net Zero.The Agri E Fund has been created to support farmers with the investment and carbon audits required to help them achieve Net Zero.Loans are available with 0 per cent arrangement fees when a farmer completes a carbon audit and is borrowing over £50,000 to invest in emission reducing initiatives, like renewable energy, energy efficiency initiatives or activities that reduce greenhouse gases.Brian Richardson, head of agriculture at Virgin Money, said: “Farmers need to be proactive in adjusting their businesses to a low carbon future. While many farmers are working towards their net zero targets, we know from our research that there are many who know what they’ve got to do, they just aren’t sure how to go about it.”By providing lower cost finance, our new Agri E Fund is providing targeted support to help agri-businesses make the transition and enable investment in reducing and capturing carbon emissions.”We have a long history of supporting the agriculture sector through periods of change and are committed to working closely with our farming customers to help them on their journey to Net Zero.”