The Australian beef sector accounts for almost a quarter of the country’s total agricultural production and in a first for the Australian agricultural industry, a premium Queensland beef producer, Stockyard, has entered into a sustainability-linked loan (SLL) with Commonwealth Bank.
Founded in 1958, Stockyard is recognised as an integrated pastoral, lot feeding and branded beef business, exporting a suite of premium grain-fed Wagyu and Angus beef product to over 20 international markets while supporting Australian markets.
Stockyard’s three-year loan with Commonwealth Bank sets out clear parameters that will see Stockyard stretching towards sustainable outcomes in emissions reduction, animal welfare and people wellbeing that are significantly beyond its existing, strong baseline performance.
Stockyard has strong alignment to the beef industries priorities such as the Australian Beef Sustainability Framework and the Carbon Neutral 2030 strategy. The business has been recognised through numerous awards for their branded beef and is already an industry leader in emissions reduction and animal welfare. Stockyard’s primary asset is its ~20,000 head feedlot located in the highly productive Darling Downs region of south-east Queensland.
The deal ties the facility pricing to five metrics, grouped into three sustainability performance targets, including: reducing Scope 1 and 2 greenhouse gas emissions; improved animal welfare outcomes; and workplace health and safety innovations.
Managing Director of Stockyard, Lachie Hart said CBA’s new loan structure incorporates their strong commitment to continuously strive for even better care of their animals, the environment, the community, and their people.