UK: Banks should 'radically rethink' farmer support in green transition

Banks need to 'radically rethink' how they support farmers to shift to farming systems that prioritise climate and nature, a new report has said. The study, which spoke to over 100 farmers, revealed an absence of financial solutions and advice that recognises the complexity of the transition. It found that most farmers think financial and business risks are barriers to a transition to agroecological systems, but access to lending itself was not seen as the primary barrier. Instead, farmers highlighted the need for flexible and preferential terms on either new or existing lending, which would give them the capacity to navigate transition without financial risk to their business. This flexibility, combined with long-term business advice, was seen as essential for a successful transition, according to the study. The research was led by Soil Association Exchange, which is backed by the Soil Association, with support from the Green Finance Institute and the British Business Bank. Soil ...