Nutrien Ag Solutions and Scotiabank launch new program
December 6, 2023 By Top Crop Manager
Nutrien Ag Solutions, the retail division of Nutrien Ltd., announced a new program in collaboration with Scotiabank designed to support Canadian growers in adopting more sustainable and productive agricultural products and practices. This program aims to bolster the financial resilience of the nation’s farming community and advance Canada’s agriculture sustainability goals for the broader value chain.
Beginning this month, growers who meet certain eligibility requirements and are enrolled in Nutrien Ag Solutions’ Sustainable Nitrogen Outcomes program, an initiative targeting improved nitrogen management to reduce nitrous oxide emissions, can take advantage of a special financing offer on products and services required to advance through the program. With Sustainable Nitrogen Outcomes, growers implement 4R practices in exchange for carbon payments. This financing offer on products and services is required to advance through their 4R nutrient stewardship journey. For qualifying products, the financing rate drops from 12.99 Annual Percentage Rate down to a 4.99 per cent promotional rate for eligible new and existing growers who are enrolled in the Sustainable Nitrogen Outcomes program. Eligible growers will also have an extended payment period, with payments due in February 2025, providing additional financial flexibility.
“This offer is an exciting opportunity for our customers in Canada to realize both agronomic and economic benefits of their sustainability efforts,” says Andrew Gallagher, senior director of Nutrien Financial Business Development. “The extended terms and financial incentives make adoption easier and even more rewarding.”
In a recent report published by Scotiabank, growers shared perspectives on the challenges they face in adopting sustainable practices, including rising production demand, shifts in consumer trends, policies and regulations and economic uncertainty. The report also explores the role financing can play in addressing these challenges, including providing support to growers who make investments to improve the sustainability of their operations.
“As a trusted partner for our clients, we support them in addressing these sustainability challenges, at the right pace, with the right products and solutions to achieve their goals,” says Janice Holzscherer, managing director and head of agriculture at Scotiabank. “Our work with Nutrien underpins our continued commitment to supporting the profitable and sustainable growth of Canada’s agriculture industry in the fast-changing decades ahead.”
Nutrien Ag Solutions and Scotiabank are providing Canadian growers with financial solutions to move along a more sustainable production path. Because of a collective effort involving a number of stakeholders across the Canadian agriculture industry, growers have the support, resources and reliable insights needed to create meaningful improvements in nitrogen use efficiency. Nutrien Ag Solutions’ Canadian-based team notes that the collaborative approach in Canada is driving more impactful results than in other markets and can be used as a blueprint to replicate positive outcomes for all stakeholders.
“There is a significant need for sector-wide collaboration to support the scale-up of value-creating opportunities for growers that improve nitrogen use efficiency and create measurable sustainability benefits,” says Matt Marshall, vice-president of sustainable ag and retail strategy for Nutrien Ag Solutions. “It’s exciting to see Nutrien Ag Solutions and Scotiabank build on our existing relationship to help support growers in their efforts to be more efficient, productive and sustainable.”