Key Takeaways
- Sector: Impact.
- Geography: France.
Analysis
Ardian has closed a first wave of anchor commitments worth roughly €100m for a dedicated Nature‑Based Solutions (NBS) strategy, signalling renewed institutional appetite for large-scale ecosystem restoration as an investable asset class. The package is led by a substantial pledge from the European Investment Bank (EIB), with follow-on commitments from Proparco and British International Investment (BII).
The vehicle, branded under the Averrhoa NBS platform and structured as an SFDR Article 9 impact fund, will channel capital into reforestation, wetland rehabilitation and mangrove restoration projects across emerging markets. Anchors include an EIB Global commitment of €50m, Proparco €20m and an intended €10m from BII, alongside other institutional investors, creating a launch pool designed to attract corporates and asset managers seeking high‑integrity nature credits.
Fund planners target the permanent removal and sequestration of approximately 85 million tonnes of CO2 over a 40‑year lifecycle through natural carbon sinks. Beyond carbon, projects are being selected for measurable biodiversity outcomes, water resource protection and socio‑economic benefits for host communities — a response to greater investor scrutiny on co‑benefits and additionality in carbon markets.
Ardian says the fund pipeline spans Latin America, Africa and Asia and has been built by partnering with specialist developers, including aDryada, to ensure local operational capacity and robust monitoring. Key selection criteria emphasise demonstrable restoration expertise, rigorous monitoring, reporting and verification (MRV) systems, and advanced offtake conversations with corporate buyers.
Market context underlines the urgency: international institutions warn that a large share of global economic activity depends on functioning ecosystems, while deforestation and habitat loss continue at scale. Institutional interest from DFIs reflects a broader pivot — public capital is increasingly being used to de‑risk projects and pull private capital into nature‑based solutions, where perceived barriers previously limited institutional allocation.
The move also expands Ardian’s decarbonisation portfolio. The firm cites previous investments across renewables and low‑carbon infrastructure — including multi‑gigawatt energy projects and a €2bn hydrogen infrastructure vehicle — positioning the NBS strategy as a complementary route to net‑zero alignment for clients and corporate offtakers.
Officials framed the transaction as both impact and market development. Laurent Fayollas, Deputy Head of Infrastructure at Ardian, described the round as a “milestone” for scaling nature restoration with institutional capital. Ambroise Fayolle of the EIB and Jean‑Baptiste Sabatié of Proparco stressed the importance of high‑quality, long‑term investments in natural capital. Leslie Maasdorp of BII highlighted the fit with climate resilience objectives in emerging markets.