Mirova and EP Carbon launch a Natural Climate Solutions carbon project accelerator

Published on 09/02/2020 News

Mirova joined forces with EP Carbon, a US-based REDD+ carbon project developer, to launch an Accelerator aimed at catalysing a new generation of Agriculture, Forestry and Other Land Use (AFOLU) sector carbon projects to mitigate and adapt to manmade climate change whilst delivering positive impacts for both biodiversity and local communities.

Mirova

The Paris Climate Agreement declared a commitment to hold the increase in the global average temperature to well below 2°C above pre-industrial levels, and preferably 1.5°C. Meeting this ambitious goal will require that we eliminate carbon emissions from the land use sector and support this sector to transition from a net source to a net sink of emissions. Halting deforestation and the conversion of natural ecosystems to avoid greenhouse gas emissions, combined with the expansion of forest and landscape restoration activities to generate emissions removals, are the key pathways to achieving this transition. Such ‘Natural Climate Solutions’ (‘NCS’) have been estimated to have the potential to provide 37% of cost-effective CO2 mitigation required by the year 20301. Nevertheless, these activities remain severely underfunded, with current estimates indicating that less than 5%2 of climate finance is directed towards climate change mitigation in the land use sector.

The newly launched Mirova Natural Capital Accelerator will act as a platform for the identification and development of private-finance ready high-impact NCS carbon projects. Projects accepted into the accelerator will benefit from technical carbon project development support and expertise from an established and leading global carbon project developer, and from improved visibility on securing the investment required to establish and operate projects through placement within Mirova’s expanding stable of impact investment funds. Through these activities, much needed private investment will be channelled towards projects contributing positively to climate change mitigation, biodiversity conservation and sustainable development, whilst generating financial returns.

The Mirova Natural Capital Accelerator is live now and welcoming applications. For further information about the accelerator, the supported activities and to make an application please follow this link.

[1] The Nature Conservancy, 2017
[2] Global Landscape of Climate Finance, 2019
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