The UN-affiliated fund will invest in sustainable agriculture and forestry, as well as green infrastructure and ecotourism.
It is one of the first private funds aimed at land-degradation neutrality, a target of Sustainable Development Goal №15 (Life on land). The European Investment Bank, France’s AFD and the government of Norway are backing the fund, as is the Rockefeller Foundation. Luxembourg committed €5 million.
Mirova is an $8 billion unit of Natixis Global Asset Management, which has nearly $900 billion under management. In July, Mirova agreed to acquire Althelia Ecosphere, which has put together deals that combine carbon credits and sustainable commodities such as rubber in Indonesia, cocoa in the Ivory Coast and cattle in Brazil.
SDG №15 ranked low in a survey of impact investors’ interest in the SDGs. Mirova’s CEO, Philippe Zaouati, said “rehabilitating degraded land, protecting vital ecosystems and empowering sustainable business around the world…can be achieved along with competitive market-level returns.”
Here’s the fund’s brochure.
