The Global Evergreening Alliance and Mirova launch one of the largest nature-based carbon removal programmes in Asia

On the occasion of the climate COP27 taking place in Egypt, the Global EverGreening Alliance and Mirova, an affiliate of Natixis Investment Managers 100% dedicated to sustainable investing, have joined forces to launch one of the largest nature-based carbon removal programmes in Asia beginning with a US$15million investment in the Philippines.

The “Restore South-East Asia” programme aims to restore degraded lands across the region and has the potential to impact over 600,000 households. Designed through a development lens, the programme puts rural communities at the centre of restoration efforts. The partnership between the Global EverGreening Alliance (GEA) and Mirova begins in the Philippines with an initial investment of US$15million, with the intention to scale- up across an additional five countries including Timor Leste, Cambodia, Laos, Vietnam and Indonesia – thus taking the overall investment to US$90 million.

The program's implementation aims to support around 30,000 households, to restore over 33,000 hectares of land in the Philippines, and to capture over 4 million tons of carbon in the process. In addition to the significant benefits that rural communities will receive from more sustainable and productive farming practices, they will also benefit from carbon finance revenues, contributing to their long-term economic empowerment.

“In order to meet the Paris Agreement’s objectives, we need to channel more capital towards Nature-based Solutions, which can contribute to both climate change mitigation and adaptation. South-East Asia offers a large and untapped potential, for land restoration and community resilience programmes. We are proud to team up with GEA to work closely with local operator”, says Sam Lampert, Investment Director at Mirova.

An international, recognised leader in sustainable finance, Mirova was created ten years ago to develop investment solutions aimed at accelerating the transformation of the economy towards a sustainable model. Its natural capital platform is a telling example of how innovative finance can be when it comes to financing land restoration, oceans conservation or biodiversity. Through its dedicated sustainable land use strategy, Mirova has invested in more than 30 projects worldwide in the space of natural capital.

The Global EverGreening Alliance (“the Alliance”) is the world’s largest environmental restoration alliance of research, conservation, and development sector organisations, focused on developing and delivering transformative projects to restore landscapes and rebuild livelihoods at a large scale. Uniting over 70 of the world’s most capable research, development, and conservation NGOs it is uniquely positioned to successfully scale-up restoration efforts to address global development challenges. Fostering collaboration, learning, sharing, efficiency and harmonisation across institutions, sectors, and borders this programme across South- East Asia is synonymous with the Alliance’s ambition of turning words into action.

“Small-scale farming communities in South East Asia are some of the most vulnerable to the impacts of climate change. Working with partners like Mirova, who are dedicated to sustainable investment, allows us to put the needs of vulnerable families at the heart of land restoration and deliver programs that scale-up more sustainable and productive farming practices, and create long-term economic empowerment”, says Chris Armitage, Chief Executive Officer at Global EverGreening Alliance

For Further Reading:

• Mirova Teams Up with Aqre Group To Develop Agroforestry Systems In Partnership With Smallholder Farmers In Madagascar
• Mirova accelerates the rollout of its sustainable land use investment program with three new projects in Brazil, Morocco, and the Philippines
• Mirova Invests in Sustainable Forestry in West Africa
• Mirova to Manage €50m Carbon Investment for Orange