Mirova has announced the final close of its Land Degradation Neutrality Fund with commitments of over $208 million.
The impact investment fund invests in sustainable land use and land restoration projects in developing countries including agroforestry, regenerative and sustainable agriculture and sustainable forestry on degraded lands. The fund says it has already committed to investments in eight countries in areas ranging from sustainable coffee and cocoa production, restoring deforested areas in Latin America, through to sustainable forestry projects and tree nuts production in Africa and Asia.
A blended finance vehicle, mixing commercial and concessional capital, initial public investors include the European Investment Bank and Agence Française de Développement. The fund is also supported by the British Government and more recently by the Canadian Government.