Sustainability-Linked Loans Proving Popular with Farmers and Co-ops

Enviroflex Loans Now Available to Over 95% of Dairy Farmers Nationwide

  • Over €30m in Enviroflex finance applications received since launch
  • Sustainability-linked loans now available to over 16,000 dairy farmers
  • 11 dairy Co-op partnerships now in place across Ireland

Farmers have applied for over €30 million of sustainability-linked Enviroflex loans since it first launched, with 16,000 dairy farmers now having access to the product via 11 dairy Co-op partnerships now in place.

The growing popularity of Bank of Ireland’s agri-focussed sustainability-linked loan product, the only one of its kind on the market, highlights the need for accelerated action in the agriculture industry as the sector must cut its Greenhouse Gas emissions by 25% by 2030 to reach Government targets.

In order to support the environmental transition Bank of Ireland developed Enviroflex and it is now available to over 95% of Irish dairy farmers, with farmers implementing a range of sustainable actions on their farms including:

  • Constructing animal housing
  • Investing in nutrient management facilities
  • Implementing renewable technologies
  • Purchasing new machinery by availing of TAMS grants

Bank of Ireland also recently announced an expanded partnership with Irish Distillers to offer the Enviroflex product to tillage farmers for the very first time, with the growth of Enviroflex further enhancing its ambition to deliver c.€15 billion in Sustainable Finance lending by 2025.

Bank of Ireland continues to grow its lending to Irish farmers, capturing 55% of all new agri-lending in 2024. Farm incomes rose by 49% in 2024, following a challenging year in 2023, with 2025 predicted to see farm incomes rise by a further 20%. Farmers are looking ahead with renewed confidence, engaging with Bank of Ireland advisers, and are seeking to reignite their investment plans regarding:

  • Addressing the deficit of slurry storage on Irish dairy farms
  • Installing solar PV to cut energy costs and reduce carbon footprint
  • Investing in advanced milking technology & cubicle housing
  • Purchasing machinery & equipment

Eoin Lowry, Head of Agri Sector, Bank of Ireland said: “It is encouraging to see the increasing demand for Enviroflex, which helps improve farm sustainability to ensure ongoing compliance and help meet the Government’s environmental targets. The challenge for the agriculture industry is to continue making investments that keep driving productivity and reducing carbon emissions, and Bank of Ireland is committed to supporting the transition to a more sustainable farming footprint across climate, water quality and nature. With Enviroflex now available to over 16,000 Irish dairy farmers we look forward to further developing this product and enhancing farmers sustainability practises.”

ENDS

Notes to Editors:

Each Co-ops sustainability programme is supported by science and best practice as developed by Teagasc and Bord Bia Origin Green