Lloyds Bank and Wildfarmed team up for new funding scheme

Farming company Wildfarmed and Lloyds Banking Group have launched a new fund aimed at helping farmers adopt regenerative practices without reducing food production.

The new Food & Nature Resilience Fund is designed to tackle one of the biggest barriers to change by making the transition to nature-friendly farming more financially viable.

The fund’s year one ambition is £1.3m and is expected to grow as additional farmers and partners come on board.

See also: Farmers offered share of £47m peat funding package

The initiative brings together investment from organisations outside the food supply chain, including banks, water companies and insurers, to reward farmers for delivering environmental improvements alongside food production.

Shared investment

The fund will enable businesses with an interest in resilient landscapes, such as utility companies and insurers, to invest alongside food-sector partners in projects that improve nature recovery and strengthen long-term food production.

Among the first organisations to commit to the initiative are water companies Severn Trent and Affinity Water, together with commercial insurer AXA XL. Further partners are expected to join.

Ben Makowiecki, agriculture sustainability director at Lloyds Banking Group, said: “This fund can help set in motion the pace of change needed to scale regenerative agriculture across the UK while creating a more dependable financial model for farmers.”

Andy Cato, co-founder of Wildfarmed, said nature and food production are too often viewed as competing priorities, with existing payment schemes forcing farmers to choose between the two.

“Yet a resilient, abundant future depends on nature-rich food-producing land. This co-operation is a big advance toward creating this a reality at scale.”

Details of the fund eligibility criteria and how farmers can apply have not yet been announced.