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COP30: Proparco reaches a new milestone with three new structuring Natural Capital projects
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In 2025, Proparco is taking a new step forward in its commitment to natural capital. The first four projects illustrate its strong engagement in initiatives with high biodiversity, carbon, and social impact. Among the partners involved are major players such as Mirova, AXA IM and Ardian.
With nearly 50 years of experience in emerging markets, Proparco — the French development finance institution — acts as a trusted third party, strengthening each project’s credibility and integrity, and preparing to scale up its action in 2026.
Launch of Proparco’s Natural Capital strategy
In response to the ecological emergency and the need to mobilise the private sector on nature-related issues, Proparco has decided to step up its support for natural carbon sinks. This strategy aligns with the AFD Group’s Nature activity plan, which aims to provide EUR 1 billion annually in biodiversity co-benefit financing starting in 2025.
The “Natural Capital” strategy marks a new milestone in Proparco’s commitment to protecting and restoring ecosystems. With nearly 50 years of presence in emerging markets, the development finance institution acts as a trusted partner in a sector where technical complexity, demands for transparency and expectations around integrity are particularly high. Proparco aims to mobilise private finance, secure complex operations and create a more robust investment environment for natural capital stakeholders.
The projects announced at COP30 illustrate our ability to play a catalytic role in a sector where credibility, transparency and integrity are essential. We are moving forward with determination, but also with humility, because ecological transition requires learning by doing and building strong, lasting partnerships. In 2026, we will intensify these efforts to mobilise even more private finance in support of natural capital.
- CEO of Proparco
A demanding strategy
The strategy is built around a clear objective: directing financing towards projects capable of restoring or preserving major natural carbon sinks — soils, forests, wetlands and oceans — while generating measurable co-benefits for biodiversity, local communities and the climate.
Three priority pillars structure this commitment:
• Sustainable land management (regenerative agriculture, agroecology, agroforestry);
• Conservation, restoration and sustainable production in forests and mangroves;
• Development of sustainable and regenerative solutions for marine ecosystems.
To maximise impact and credibility, Proparco relies on strict selection criteria, including the quality of carbon projects, the robustness of operators, alignment with national low-carbon strategies, and systematic reliance on the most stringent certification standards.
A broad set of tools
This strategic commitment is reflected in the mobilisation of a full range of financial instruments: investments in specialised funds and platforms, tailored debt for SMEs and agro-industrial companies engaged in their transition, financing for NatureTech actors, and a multi-year technical assistance facility.
The most ambitious projects may benefit from the EDFI Carbon Sinks guarantee, managed by EDFI Management Company and funded by the European Union under the EFSD+ programme, in line with the EU’s Global Gateway strategy. EFSD+ (European Fund for Sustainable Development Plus) is a key instrument of the EU’s investment framework, designed to mobilise private finance for sustainable development in partner countries. Among the first four projects signed in 2025, two benefit from the Carbon Sinks guarantee (see below).
Four “Natural Capital” projects in 2025, including 3 signed during COP30
February 2025: Mirova Sustainable Land Fund 2 (MSLF2)
In the first quarter of 2025, Proparco supported the launch of MSLF2, Mirova’s second-generation fund dedicated to sustainable land management: agroforestry, regenerative agriculture and forestry in emerging markets.
The coalition of public, private and philanthropic investors — brought together through a blended finance approach — demonstrates the strength of a shared model. Proparco provided financial support and credibility to attract additional partners. [See press release]
COP30 : AXA IM – Natural Capital Fund
With a USD 25 million commitment, Proparco is supporting the launch of AXA IM Alts’ Natural Capital Fund, which will invest in large-scale forest and wetland protection and restoration initiatives generating high-quality carbon credits. The fund is backed by one of the most experienced teams on the market, active for over a decade in structuring nature-based solutions. This transaction, also supported by an EU Carbon Sinks guarantee, will help attract more institutional investors to a market still under development. [See press release]
COP30 : Ardian – Averrhoa Nature-Based Solutions Fund
Proparco has invested EUR 20 million in the Averrhoa NBS Fund developed by Ardian and aDryada, dedicated to afforestation, reforestation, revegetation and the restoration of mangroves and wetlands in emerging markets. The fund aims to capture 85 million tonnes of carbon over 40 years, combining the expertise of two major market players. Proparco played a catalytic role in mobilising both public and private investors. The operation benefits from an EU Carbon Sinks guarantee. [See press release]
COP30 : EcoEnterprises Fund IV
Discussions are underway for Proparco to join the fourth EcoEnterprises fund, dedicated to Latin American SMEs active in agroforestry, regenerative agriculture, climate technologies and access to clean energy. The fund targets 15 to 20 companies generating tangible benefits for biodiversity and rural communities. With USD 100 million already committed and a broad coalition of development finance institutions, EcoEnterprises IV aims to accelerate the emergence of a resilient entrepreneurial ecosystem rooted in nature-based solutions.