Richard McIntyre: Federated Farmers banking spokesperson on banks' climate informed decisions

Competition is being touted as a possible answer to banks' climate informed decisions.  

NZ First Minister Shane Jones has spoken out against several banks' attempts to reduce lending and services to fossil fuel businesses - decisions he says are driven by "unelected climate apostles".  

Federated Farmers banking spokesperson Richard McIntyre told Andrew Dickens that if new legislation came forward, he would like businesses to have other options.  

He says that if banks decide they're the moral police of the country, there needs to be enough competition so that those they decline can get lending elsewhere.  

LISTEN ABOVE 

See omnystudio.com/listener for privacy information.

Episode Transcript

Speaker 1 (00:00):
Shane Jones has gone off at the banks, and it's
understood that New Zealand First could be looking at a
member's bill that could force the big banks to lend
to any businesses that deal in fossil fuel. Shane Jones
says the Australian banks, who dominate the New Zealand market,
need to stop being an i quote driven by unelected,
unrientated climate apostles. Australia's opposition party is looking at a

(00:23):
similar bill to ensure critical businesses like farming and mining
are able to access bank lending and services despite how
the banks view their businesses. So Richard McIntyre as the
banking spokesperson for Federated Farmers and joins me, Now, goodby.

Speaker 2 (00:36):
To you, Richard, Good morning Andrew.

Speaker 1 (00:39):
Do you agree with mister Jones.

Speaker 2 (00:41):
Look, I think this is a really interesting discussion we
have to have as a country. Yet, do we want
to have our elited government setting laws and deciding what
society can and can't do or do we want unelited
banks being able to do that? You know, typically, you know,
we are quite comfortable for businesses to decide who they
do business with or not. And when we have have

(01:02):
a sector that plays such a huge role in society,
like banks too, and they've got quite a bit of scale,
and they're also making rule making agreements like the nen
Zari banking lots to act in very similar manners. Then
you know, we've really got a question where it's very
reasonable for them for them to be doing that.

Speaker 1 (01:20):
Yeah, but it's their money, and they're the banks, and
there's their choice, and that's their freedom of choice. But
I understand what you're saying. Have you heard of farmers
here having issues accessing lending and other banking services because
of their climate practices?

Speaker 2 (01:35):
So we've got farmers who are being asked for all
of their emissions profiles and that sort of thing. We've
got the banks who have the vast majority of them
so far have set emissions reduction targets for their farmers
or for the ag sector, and so that's the real concern.
You know what happens after that. We've seen what is
happening with B and Z and the petrol stations where

(01:57):
you know, individually owned petrol stations, so the local petrol
stations and being told that they have to pay back
all of the debt that they own that they owe. Sorry,
by twenty thirty, and after that they can have no
more debt but a transactional account, and that than nothing more.
So there's a real question of you know, where is
this going to go for farmers if they can't meet
whatever targets the banks do set, because you know, what

(02:20):
begins in particular are doing to these petrol stations seems
completely unreasonable.

Speaker 1 (02:25):
So what changes would you like to see a new legislation?

Speaker 2 (02:30):
I guess if new legislation camp forwards, I would like
to see in all reality, either far far greater competition
in the banking space, so that if banks would decided
that individually they wanted to be the moral police of
the country, then there'd be enough competitions so that whatever
businesses they were declined into fund could actually get lending elsewhere.

(02:51):
But I think as a society we just really need
to have a really good discussion. And so are we
a democratic, critically elected are we proceed? Do we have
a democratic really to government that decides what we can
and can't do? Or are we happy to leave it
up to these big corporates, you know, making decisions overseas
about what we can and can't do, what industries they
will fund or won't fund. You know, there's an issue

(03:14):
there that really deserves some discussion.

Speaker 1 (03:15):
Richard, I thank you for your time today. Richard McIntyre
is from Federated Pharmacy Banking spokesperson.

Speaker 2 (03:21):
For more from Earlily Edition with Ryan Bridge, Listen live
to news talks that'd be from five am weekdays, or
follow the podcast on iHeartRadio