Asset manager Mirova has made a $30m (€25.8m) investment in a regenerative agriculture project in India through carbon removal project developer Varaha.
The Natixis Investment Managers affiliate said it has invested the capital in Varaha’s Kheti soil carbon project that aims to support over 337,000 smallholder farmers in India to implement regenerative agriculture practices.
The transaction marks Mirova’s first carbon investment in India and represents the largest single commitment to date under the firm’s nature-based carbon strategies.
Charlotte Lehmann, senior investment director, Mirova, said: “This transaction — our largest carbon deal to date and our first in India under the natural capital platform — marks a pivotal milestone in our strategy. It opens up new avenues to scale high-integrity nature-based investments across the Asia-Pacific region.
“Kheti exemplifies how carbon finance can drive systemic transformation in agriculture while strengthening the resilience of vulnerable rural communities.”
Varaha, founded in 2022, is Asia’s largest carbon project developer, specialising in high-integrity climate solutions like building soil carbon and afforesting lands to remove greenhouse gas emissions while enhancing the livelihoods of smallholder farmers across South Asia.
Madhur Jain, MD and CEO, Varaha, said: “This partnership is a strong validation of Varaha’s vision to make regenerative agriculture a cornerstone of India’s climate strategy. Our work with thousands of smallholder farmers demonstrates that large-scale, high-integrity carbon projects can also deliver meaningful livelihood benefits.
“With deep on-ground operations and industry-leading monitoring, reporting and verification systems, we’ve built a model that combines scientific rigor with real smallholder community impact. “
To read the latest IPE Real Assets magazine click here.
