BTG Pactual Timberland Investment Group (TIG) has raised $1.24bn (€1.02bn) for its Latin American reforestation strategy, making it the largest-known reforestation and restoration fund closed to date.
BTG Pactual TIG said the strategy secured commitments from a broad group of institutional and development investors, including Azarine, BNDES, CAF, DEG, FMO, Green Spark Ventures, Hempel Foundation, IFC and Impact Fund Denmark.
Other participants include the Mobilising Finance for Forests programme, funded by the UK and Dutch governments, Mitsui OSK Lines, New Zealand Superannuation Fund, NGS Super, the San Francisco State University Foundation, Tokio Marine & Nichido Fire Insurance Co and Vale SA.
As previously reported, the Temasek-owned investment platform GenZero has also committed to the Latin American reforestation strategy.
Conservation International is the impact adviser.
Gerrity Lansing, head of BTG Pactual TIG, said: “Achieving this milestone reflects both an innovative strategy and TIG’s ability to execute at scale, and we are honoured to have reached it in partnership with this group of leading institutional investors.
“We designed this strategy to demonstrate that restoration at landscape scales can deliver both environmentally and commercially.”
Mark Wishnie, chief sustainability officer at BTG Pactual TIG, said: “Our partners’ commitments to the reforestation strategy are a powerful validation that sustainable commercial forestry, rural community development and native ecosystem restoration can be mutually reinforcing.
“The strategy demonstrates how sustainable production can provide an enduring economic engine to power climate resilience, biodiversity conservation, and rural economies – all while producing renewable materials to supply the global bioeconomy.
“With over 50,000 acres already under restoration, our collaboration with Conservation International is delivering tangible outcomes that demonstrate the strategy’s potential for broad applicability.”
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