(AGENPARL) – gio 21 settembre 2023 [BEIS News]21 Sep 2023
Please see attached for a Joint UK-France statement on the Climate Mobilisation Forum, available online here with further details from participants: https://www.gov.uk/government/news/joint-uk-france-statement-climate-mobilisation-forum
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Joint UK-France statement: Climate Mobilisation Forum
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Statement related to today’s Climate Mobilisation Forum including further details from participants
In a gathering at the National Museum of Natural History in Paris, President Macron and His Majesty the King Charles III heard from company chief executives and leading organisations on how they are supporting action on tackling climate change and nature loss in emerging and developing economies.
Attending as part of His Majesty’s State visit to France, the gathering followed the Climate and Nature Finance Mobilisation Forum. It builds on long-standing collaboration between the UK and France to accelerate action on climate change and protecting the natural environment. Both Governments are committed to deepening this further, and to increasing support for emerging and developing economies, as reconfirmed through the Joint Leaders’ Declaration made at the 36th France – United Kingdom Summit, held in Paris in March 2023.
Today’s event was convened by France’s Minister for Higher Education and Research, Sylvie Retailleau, Minister for the Ecological Transition and Territorial Cohesion, Christophe Béchu, and Minister for the Energy Transition, Agnès Pannier-Runacher, and UK Secretary of State for Energy Security and Net Zero, Claire Coutinho, and Minister for Biosecurity, Marine and Rural Affairs, Lord Benyon. It brought together key figures from the private and public sector to identify how we can go faster to mobilise investment and financing to deploy climate and nature solutions in emerging and developing economies.
The event builds on the Climate Finance Mobilisation Forum held earlier this year in Windsor, at which financial institutions and philanthropists announced a range of new investment platforms and initiatives, demonstrating their commitment to concrete actions to finance climate efforts in Africa, Asia and Latin America.
It also follows on from the commitments on climate and nature made by the UK and France during the UN General Assembly this week in New York, and at the Summit on a New Global Financing Pact in June 2023, at which France and the UK launched a joint initiative to promote funding for nature protection and restoration. A key part of this was the creation of a new International Advisory Panel on Biodiversity Credits co-chaired by Chair of the Royal Botanic Gardens at Kew Dame Amelia Fawcett and Former Deputy Governor of the Banque de France Sylvie Goulard. The panel brings together existing initiatives and a diverse range of perspectives to guide the development of biodiversity credits, which are a new tool for raising private sector investment for protecting and restoring biodiversity.
Participants at the Forum held today discussed practical actions that investors and companies are already taking to tackle climate change and biodiversity loss and what more can be done to increase investment particularly in emerging markets and developing economies. Many of those attending made new announcements and set out how they are implementing their existing commitments.
The companies involved today made the following announcements:
* Ardian, a French private investment house, andaDryada, a French biodiversity operator, join forces to launch theAverrhoa Nature-Based Solutions Fund, dedicated to large-scale nature-based projects, with a strong positive impact on climate, biodiversity and local communities. It will allow investments for a total ofup to €1.5 billion .
Designed to accelerate the strategies of investors and companies in the protection and regeneration of nature and the fight against climate change, this Fund aims to build a portfolio of around 15 diversified projects of reforestation, afforestation, restoration of mangroves and wetlands allowing for the removal of c. 150 million tons of carbon. These projects will be based on the three pillars of climate, biodiversity and providing benefits for local communities, complying with the most demanding international standards and generating high-quality carbon credits.
Averrhoa Nature-Based Solutions Fund will deploy capital globally, mostly in emerging markets and developing economies.
* Amundi is taking a new step in the deployment of its strategy to contribute to the preservation of biodiversity and the investment into natural capital.
After engaging 385 companies in 2021 & 2022 to trigger improvements in integrating biodiversity into their strategy, Amundi is proud tojoin Nature Action 100, the largest global investor’s coalition dedicated to foster action on natural capital, building on the success of Climate Action 100.
Amundi has already launched 2 thematic funds linked to the biodiversity thematic: one on the blue economy and another one to support the transition to a circular economy taking into account the biodiversity footprint.
Amundi is also working on a first fully dedicated biodiversity fund, which is to be launched in the coming months.
* In 2022,AXA, Unilever, and Tikehau Capital committed to create a €1bn private equity impact investment fund. This fund is unique by its size, thematic approach towards regenerative agriculture, and partnership gathering AXA’s specialised arm in climate adaptation and impact financing (AXA Climate), a large multinational consumer packaged goods company and an experienced fund manager in climate-related investments. They arenow launching a €120 million investment in Biobest, a pioneer in sustainable crop management solutions, in particular in biocontrols that replace conventional pesticides. Biocontrols help farmers derisk their transition to regenerative agriculture practices during 5 to 10 years to restore the ecosystem on the field. With the investment, Biobest will acquire Biotrop, a Brazilian company active in bioinput, highly complementary to their own offer and impact generation.
* Cool Earth, have pioneered unconditional grants to rainforest communities from Peru to Papua New Guinea and are regarded as the most effective approach, and are pleased to announce the roll out of aunique programme that provides regular cash grants to 2,000 households in the Peruvian Amazon putting decisions and control in the hands of the people who have most to lose from forest destruction and contributing to keeping 290,000 hectares safe.
* Kering launched the Climate Fund for Nature at the COP15 on biodiversity in 2022. In partnership with L’Occitane Group, €140 million have already been committed, and new investors are expected to join this effort with the aim of reaching a total objective of €300 million.
Nine months after its creation, the Fund is fully operational and Kering is thrilled toannounce the funding of a first project on the ground to protect primary forests in Peru (for an amount of €2 million) in partnership with a local NGO and indigenous communities. Various other projects are at an advanced study stage, including the restoration of mangroves and land in Latin America, West Africa and South-East Asia.
Finally, Kering will renew its financial support to the Museum of Natural History’s endowment fund to assist them in their work on biodiversity certificates, which are intended to establish a science-based methodology for creating a voluntary market for biodiversity credits, similar to what already exists for carbon.
* LVMH is pleased to announce that it willjoin the Circular Bioeconomy Alliance (CBA) as a Founder Member. The CBA was established in 2020 by His Majesty King Charles III (then His Royal Highness The Prince of Wales) to demonstrate, through Living Labs on the ground, a holistic approach to landscape restoration and value chain creation that works for people, for nature and for the planet. LVMH is already working with the CBA through its support of a Living Lab in Chad that produces cotton sustainably, using agroforestry systems and regenerative farming techniques in partnership with local communities.
* Mirova is continuing to roll out its Land Degradation Neutrality (LDN) fund withan investment of €8.5 million in Pamoja, an impact company specialising in sustainable land use, and a reference for sustainable macadamia nut production in East Africa. Pamoja supports nearly 6,000 small macadamia nut growers in Kenya in their efforts to promote sustainable agricultural land management practices. In Tanzania, Pamoja develops certified farms of macadamia nuts, under agroforestry systems. The investment will contribute to the development of Pamoja’s projects in Kenya and Tanzania, with the aim of contributing to sustainable land management over 6,200 hectares of land and reaching 13,000 local smallholder farmers. Mirova is a mission-driven, B Corp certified asset manager 100% dedicated to sustainable investing.
* Safaricom, a Kenyan telecom operator and an associate business inVodafone Group, willinvest KES 15-20 billion (~€96 – €128 million) into a major environmental improvement programme . The company intends to reduce its CO2 emissions by accelerating the roll-out of more energy efficient fibre-to-the-home and fibre-to-the-building broadband to customers; to increase the usage of solar energy to power its network; to reduce plastic usage in its store network; and to increase the recycling of electronic waste, including redundant customer handsets. Safaricom has secured the largest Sustainability Linked Loan ever undertaken in East Africa. The funding was provided by a consortium of four banks: Standard Chartered Bank; Stanbic Bank; ABSA Bank; and KCB Bank.
* Tikehau Capital, the global alternative asset management group, is in the process of partnering with the Natural Capital Investment Alliance (NCIA). This collaboration aims to advance the Terra Carta’s mission of prioritising nature, people and the planet at the forefront of global value creation. Furthermore, Tikehau Capital announcesthe first investment of its €1bn private equity impact strategy dedicated to regenerative agriculture and the launch of the second vintage of its decarbonisation strategy, which aims to mobilise between €2 and €3 billion. The first vintage, launched in 2018, successfully raised €1.4 billion and became one of the largest private equity vehicles exclusively committed to empowering companies that are at the forefront of efforts to decarbonise the economy.
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