Mirova to partner with UN branch for impact investing fund
The signature of a partnership between Natixis SRI-focused boutique Mirova and the global mechanism of the United Nations Convention to Combat Desertification (UNCCD) with the aim of structuring the Land Degradation Neutrality Fund has been announced.
This impact investing strategy will be launched in December 2016 and will look at stopping the degradation of lands and ensuring their rehabilitation across the planet. One target set is to restore 12 million hectares per year. But the LDN fund expects to achieve neutrality in terms of degradation of the lands by 2030.
The global mechanism of the UNCCD explained in October the fund will finance land rehabilitation through loans or co-investments to landowners and land users by channeling finance to smallholders through financial intermediaries and collaboration with sustainability funds already existing.
Institutional French public group Caisse des Dépôts will support the initiative as well as other institutions such as the European investment bank.
Mirova currently totals €5.8bn of assets under management.