Mirova accelerates the rollout of its sustainable land use investment program with three new projects in Brazil, Morocco, and the Philippines

The IPCC Mitigation of Climate Change report published in April emphasises the key role of the agricultural and forestry sectors in the reduction and absorption of CO₂ emissions needed to achieve global carbon neutrality. The major role of land use in meeting the challenge of combating climate change, as well as nature protection and food security, will also be the focus of the 15th Conference of the Parties (COP) of the United Nations Convention to Combat Desertification (UNCCD), which begins on May 9 in Abidjan.

Agroecological transition involves implementing sustainable land management practices through large-scale projects and programmes in the agricultural and forestry sectors, requiring long-term investments.

Mirova has been developing an approach dedicated to sustainable land use for the past six years, emphasising the value creation potential and positive environmental and social impact of agricultural and forestry value chains. Following the announcement of the closing for the fund dedicated to sustainable land use, at more than $200 million, Mirova unveils today three new investments representing a commitment of over $38 million.

• Atlas Fruits (Morocco): supporting the development of Atlas Fruits Company to implement sustainable practices in the citrus production sector in Morocco, with a particular focus on water resource management. The team will acquire a minority stake in Atlas Fruits Company to improve irrigation systems, set up agroforestry systems, and develop precision farming in existing orchards.
• Aloe Agroflorestal (Brazil): a partnership between Mirova and the French group SLB to develop land restoration projects, with a focus on the use of biochar. This first investment in Brazil aims to restore up to 2,000 hectares of degraded land through sustainable forestry practices.
• Kennemer Food (Philippines): supporting Kennemer's implementation of sustainable agroforestry practices in the cocoa and fruit sectors in the Philippines, in partnership with more than 19,000 independent producers.

With these three new investments, the team has invested in nine projects and programs in 11 countries (Bhutan, Brazil, Colombia, Ghana, Kenya, Laos, Morocco, Nicaragua, Peru, the Philippines, and Sierra Leone) in diversified value chains (wood, coffee, cocoa, fruits, and nuts, etc.).

The value creation and impact potential of the underlying projects are based on improved yields made possible by agroecological practices, certification premiums (organic, fair trade, FSC, etc.), as well as processing units, and the generation of carbon credits.¹

The team is targeting new investments by the end of 2022, with projects in Africa, Latin America, and Asia currently under review.

Mirova is more committed than ever to financing Nature-based Solutions to pursue the agroecological transition and the growth of an asset class dedicated to the protection and restoration of natural capital.

For Further Reading:

• Mirova to Manage €50m Carbon Investment for Orange
• First Investment and First Strategic Board Meeting for the LDN Fund
• Sustainable risk-adjusted returns, through sustainable land use and natural capital
• Finance Can and Must Play its Role in Fighting Land Degradation
• Mirova Among the ImpactAssets 50 for its Natural Capital Activities
• Acquisition of Althelia Ecosphere
• What is Natural Capital?