Examples of impact funds BOX 10 Mirova LDN Fund (2018) – $208 million92 Focus: Sustainable land use and restoration in emerging markets This blended finance fund offers long-term debt and equity to sustainable agriculture and forestry projects that reduce or reverse land degradation. Public capital from entities such as the European Investment Bank is used to mobilize private investors including Allianz and BNP Paribas. Silvania Fund (2023) – $500 million93 Focus: Restoration, sustainable resource use and nature credit generation Backed by Mercuria, Silvania directly finances large-scale restoration and coastal ecosystems, with a diversified portfolio across forest, carbon and blue economy projects. Combining patient capital with upfront funding (e.g. Race to Belém’s $100 million), the fund aims to unlock biodiversity and carbon credits while delivering long-term returns. Tropical Forest Forever Facility (TFFF) (2025, proposed) – $125 billion capitalization, $4 billion/year94 Focus: Long-term sovereign incentives for tropical forest protection TFFF, proposed by Brazil at the UNFCCC COP28 in Dubai and to be formalized at COP30 in Brazil in November 2025, aims to provide $4 billion annually in performance-based, non-debt payments to over 70 tropical forest countries. Disbursements are tied to metrics such as forest retention, biodiversity protection and Indigenous rights, with penalties for deforestation. Twenty per cent of funds are reserved for Indigenous Peoples and Local Communities. The facility is structured as a $125 billion endowment, funded through sovereign guarantees and senior debt to MDBs and institutional investors. MDBs would serve as trustees, with implementation led by TFFF’s investment arm – Tropical Forest Investment Fund (TFIF) – and partners including WWF, Wildlife Conservation Society (WCS) and the UN Development Programme (UNDP). As the fund evolves, TFFF will offer institutional investors – pension funds, insurance funds and sovereign wealth funds – a pioneering route to support sovereign and environmental resilience at scale. Credit: Courageous Lands 29 Finance Solutions for Nature: Pathways to Returns and Outcomes

Finance Solutions for Nature 2025