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Fonterra Keeping Shareholders in the Dark


Fonterra Keeping Shareholders in the Dark

It is quite unclear what the Dairying and Clean Streams Accord can achieve in terms of positive environmental outcomes for dairy farmers when so many excellent initiatives are already occurring on farm, says Dairy Farmers of New Zealand Chair Kevin Wooding.

"DFNZ has little faith in a document drawn up by those with no direct responsibility for the costs or the effectiveness of the targets set out in the Accord, said Mr Wooding.

"This seems to be a very unsubtle way of regional councils seeking to avoid their statutory consultative requirements by exploiting Fonterra's government blessed monopoly status.

"The signatories to the Accord are totally inappropriate. It appears to be an illustration of people sitting in their ivory towers with no idea of the realities of sustainable farming.

"Sustainability is about getting the priorities right across all aspects of the business. It is not about meeting a set of priorities dreamed up by Government and industry bureaucrats.

"Focus needs to go on problem farms. Councils have all the tools to address those who are not complying with environmental standards.

"Fonterra Shareholders will wonder how other stakeholders were able to release a statement on Sunday evening when Shareholders are yet to see this Accord. No doubt shareholders will be putting some strong questions to their Chairman and the new directors.

"DFNZ will continue to support regional initiatives based on sound science with clear environmental outcomes."

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