Hummingbirds raises €50m from Proparco, Swedfund and BII to invest in Nature-based Solutions

Proparco announces a €15 million commitment to Hummingbirds, a French developer of nature-based projects, as part of a €50 million fundraising round structured alongside Swedfund and British International Investment (BII), which are each investing €15 million. Hummingbirds is contributing €5 million in seed capital.

Through this investment, Proparco reaffirms its ambition to scale innovative Nature-based Solutions (NbS) that deliver measurable climate mitigation, biodiversity conservation and sustainable economic opportunities for local communities. The €50 million vehicle will finance a portfolio of conservation and ecosystem restoration projects, contributing to the fight against climate change and biodiversity loss while fostering inclusive and resilient growth.

Hummingbirds has set up its investment platform to deploy its most advanced NbS carbon projects, bringing them to full-scale implementation. The strategy seeks to invest in a large array of natural assets looking to address the drivers of deforestation, restore ecosystems in degraded areas, protect biodiversity and enhance local communities' livelihoods. Those include afforestation, reforestation and revegetation (ARR), mangrove restoration, reducing emissions from deforestation and forest degradation (REDD+) and improved cookstove projects.

Created in 2022 by Anaïs Bach, Damien Ricordeau and Voyage Privé Group, Hummingbirds has grown a diversified pipeline of NbS carbon projects across Africa, Asia and Latin America mainly, originating and designing greenfield operations with best-in-class project implementers. Providing in-house technical expertise, capacity building and financing, Hummingbirds has supported the early stages of high-integrity carbon projects, de-risking them for further long-term investment.

Beyond greenhouse gas reduction and sequestration, each project aims to bring real and verifiable benefits for people and nature - a triple win sitting at the heart of Hummingbirds' mission.

The platform targets to sequester 25 million tons of CO₂ equivalent, sustainably manage 200,000 hectares, protect habitat for 100 endangered species and improve livelihoods for 250,000 people, including 50% of women. An ambitious objective reflecting Hummingbirds' focus on social and environmental co-benefits.

Integrity stands on both sides of the market. The platform strives to align its project development practices with the highest existing ESG standards, notably using the 2X Challenge framework to ensure women's participation and following the International Finance Corporation Performance Standards (IFC PS). lt also pledges to engage exclusively with carbon credits buyers demonstrating advanced and robust decarbonization strategies, upholding responsible business practices.

Amid global political instability and significant setbacks in climate and environmental policies, which have left companies uncertain about their carbon commitments and scaling back their climate ambitions, this fundraising marks a promising partnership - one that will hopefully inspire many more. For Proparco, the challenge also lies in creating a French ecosystem that fosters initiatives and ambition, enabling France to fully play its role in advancing the deployment of Nature-based Solutions (NbS).

The project benefits from the EDFI Carbon Sinks guarantee, managed by EDFI Management Company and funded by the European Union under the EFSD+ program, in support of the EU's Global Gateway strategy.

"Hummingbirds' inception was born from a remarkable convergence of a critical market gap, execution expertise, and entrepreneuriat visionaries - fortified by essential funding. lt's truly extraordinary and humbling to witness how far we've corne, thanks to a passionate team without whom none of this would have been possible. This fundraising milestone stands as a powerful symbol of optimism for both the market and the future of our planet. We extend our deepest gratitude to our financial partners for their unwavering trust and support."
Anaïs Bach, Chief Executive Officer, Hummingbirds

''Alongside Swedfund and British International lnvestment, Proparco is proud to support Hummingbirds, a French carbon project developer committed to deploying high-integrity Nature-based Solutions. This initiative fully aligns with Proparco's strategy to foster the development of credible carbon markets serving climate action, biodiversity protection and local communities."
Jean-Gabriel Dayre, Co-head of Natural Capital, Proparco