NatWest has partnered with Tesco to launch a finance scheme for farmers who want to switch to sustainable farming methods.

The programme, which has been designed with input from farmers, will help around 1,500 farms with the costs of installing technology such as solar panels and heat pumps.

Farmers who are part of Tesco’s Sustainable Farming Groups for beef, lamb and dairy are able to access the scheme.

The financial support package has been arranged though Lombard, which is the UK’s largest asset funder and part of NatWest.

According to research by Tesco, more than half of farmers want to make changes but need help accessing finance to support them.

Sustainable farming often requires up-front investment in equipment which can create obstacles for farmers.

Should the scheme prove successful, Tesco said it could be rolled out to more farmers in the future.

The supermarket set up its first sustainable farming group in 2007 to support dairy farmers during periods of economic uncertainty. Since then, it has created a range of Sustainable Farming Groups including for cheese, milk, beef and lamb.

Peter Huish, head of consumer industries at NatWest Group, said farmers faced multiple challenges including the cost of transitioning to lower emissions practices.

“This initiative further contributes to the UK’s climate goals and food security, as well as to NatWest’s pledge to provide £100 billion of climate and sustainable funding and financing by the end of 2025,” he added. “ We strongly believe that to deliver a more sustainable future, partnering with leading UK consumer companies such as Tesco, and their supply chains, will be critical.”

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