April 30, 2024
The Fund for Nature, an instrument endorsed by the Lab in 2022, has teamed up with Imperative Global (Imperative) to launch a new facility to finance early-stage carbon project development activities.
Developed by CrossBoundary Group, the Fund for Nature is a first-of-its-kind fund for nature-based carbon projects. The new Facility is designed to catalyze investable, large-scale nature-based carbon projects in critical ecosystems across emerging markets, including Sub-Saharan Africa and the Amazon. Its first project will feature a large-scale reforestation and revegetation project in Sub-Saharan Africa, covering up to 100,000 hectares of badly degraded land.
The parties expect to fund further early-stage projects under the Facility this year, and it is anticipated that the Facility will help to catalyze projects in Imperative’s pipeline with sequestration potential excess of 50 million tones of CO2 equivalent, creating thousands of local in-country jobs and flowing millions of dollars to communities in the Global South.
“Without financing for critical early-stage activities, many projects never make it to market. This is particularly true in underserved markets, where early-stage project risk is compounded by real or perceived country risk considerations. Early-stage funding is critical for scaling the pipeline of institutional-grade nature-based carbon projects.”
Kate Wharton, Managing Director of the Fund for Nature at CrossBoundary
