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Next decade investing
The seismic shifts shaping the investment landscape today, and the key trends that will continue to define investor thinking over the next ten years.
Mirova

Global Sustainable Land

An impact investment strategy investing in commercially viable projects in sustainable agriculture and sustainable forestry

The philosophy

Investing in two project types to cover most ground of sustainable land use.

Agroforestry and regenerative agriculture

∼60% of the portfolio 

  • Annual tree crops with a focus on agroforestry practices orientated towards both local and international markets
  • Opportunistic approach regarding agroecological transition activities and others beyond agriculture and forestry 

Sustainable forestry 

∼40% of the portfolio

  • Support to best-in-class commercial reforestation / afforestation projects
  • Inclusion of local communities and landscape approach, conservation areas to have strong contribution to biodiversity 

Geography

Emerging markets

Instruments

∼70% mezzanine & debt ∼30% equity

Tickets

US$10-20m - average ticket size 7-9 years - average investment tenor

Source: Mirova. The information provided reflects Mirova’s opinion / the situation as of the date of this document and is subject to change without notice. 

Reasons to consider

  • Long-term and flexible financing (debt/equity) for profit-generating land regeneration projects
  • Focus on direct investments into large-scale projects meeting robust E&S standards with limited access to funding

  • Using public money to de-risk and leverage more private investments in sustainable development
  • A layered structure – each tranche offering a distinct risk/return profile for investors

  • Experienced in providing sustainable development finance and allocate capital to impactful projects 
  • Project finance capabilities complemented by natural capital specialists, agronomy and supply chains experts
  • Robust network of international and local partners to source and finance the projects deemed most relevant

  • Successful 1st strategy in Sustainable Land use closed in 2021, having raised $208m from public and private investors
  • At end 2023, the funds have been fully deployed through 13 sustainable land management projects in Latin America, Africa and Asia, in supply chains as diverse as coffee, cocoa, wood, nuts, fresh fruit, ingredients for the pharmaceutical industry and payments for ecosystem services
  • Mirova has a deep understanding of the underlying assets and insight about the natural capital market
At Mirova, we have developed a platform to invest in natural capital solutions to address what is a challenge, biodiversity, and turn it into an investment opportunity”
– Gautier Quéru Managing director, Natural Capital Mirova

The analyses and opinions referenced herein represent the subjective views of the author(s) as referenced, are as of the date shown and are subject to change without prior notice.

Risks to consider

All investing involves risk, including the risk of loss. Investment risk exists with equity, fixed income, and alternative investments. There is no assurance that any investment will meet its performance objectives or that losses will be avoided. There could be other differences across similar products in the same strategy. Investors should fully understand the risks and other relevant details associated with any investment prior to investing.

The team

A unique investment team
Gautier Queru
Managing director
Mirova

The firm

A committed player and a leading player in sustainable finance, Mirova is a conviction-based management company that offers its clients investment solutions combining the search for financial performance with environmental and social impact. This is their raison d'être: to contribute to a more sustainable and inclusive economy by increasing their positive impact on environmental issues, but also on reducing inequalities.

As ‘Mission-led company’1, thanks to multidisciplinary teams united around the same vision, the variety of their areas of expertise, and their ability to innovate and create partnerships with the best experts, they seek to direct capital towards the needs of investment in a real, sustainable and value-creating economy.

Mirova is internationally recognised BCorpTM2 certification attests to their environmental and social commitment.

Paris

France

200+

Employees

Mirova

(1) Introduced in France in 2018 under the Pacte Law, a ‘société à mission’ company must define its "raison d'être" and one or more social, societal or environmental objectives beyond profit. The purpose, and objectives aligned with this purpose, must be set out in its Articles of Association. The Articles specify the means by which the execution of the Mission will be monitored by a Mission Committee (a corporate body distinct from the board of directors which is responsible for monitoring the implementation of the mission with at least one employee.) An independent third party then verifies the execution of the Mission, via a written opinion which is annexed to the report of the Mission Committee to shareholders and made available on the website of the company for a period of five years.

(2) Since 2006, the B Corp movement has been promoting strong values of change throughout the world to make businesses “a force for good” and to distinguish those which reconcile profit (for profit) and collective interest (for purpose). B Corp’s goal is to certify companies that integrate social, societal and environmental objectives into their business model and operations.

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