Mirova, a sustainable investment arm of Natixis Investment Managers, has launched the Mirova Sustainable Land Fund 2 (MSLF2) with a coalition of public, private, and philanthropic investors. The fund, targeting €350 million by the end of 2025, will channel capital into regenerative agriculture, agroforestry, and sustainable forestry.
Building on the success of its predecessor, the Land Degradation Neutrality Fund, MSLF2 employs a blended finance model to mitigate risks and attract institutional investment for emerging markets including Africa, Latin America, and Asia.
Key backers include the SDG Impact Finance Initiative (SIFI), which anchors the junior tranche, alongside insurers Abeille Assurances, Allianz France, and BNP Paribas Cardif. Development finance institutions FMO and Proparco are poised to join at the next closing, while the Rainforest Alliance partners with Mirova to source and support high-impact projects. The fund aims to decarbonise agricultural and forestry supply chains, delivering financial returns alongside benefits for climate, biodiversity, water security, and local communities, with a particular emphasis on women’s inclusion.
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Anne-Laurence Roucher, Head of Private Equity & Natural Capital at Mirova, underscored the collaborative ethos driving the initiative. “Fostering collective intelligence and collaboration among all stakeholders is vital to accelerate the shift from nature-dependent economic value chains to a more sustainable model that enhances the incomes and rights of local communities. This inaugural coalition is a promising sign for financing sustainable land use, and I would like to express my heartfelt gratitude to our partners for their trust in our longstanding expertise in natural capital,” she said.
Guillaume Bonnel, CEO of SIFI, highlighted the fund’s alignment with global goals. “We are proud to play a part in kick-starting MSLF2 together with institutional investors Abeille Assurances, Allianz France, and BNP Paribas Cardif. By supporting agroforestry, regenerative agriculture, and sustainable forestry in emerging markets, this initiative perfectly aligns with our mission to advance the UN Sustainable Development Goals through innovative financing solutions,” he said.
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The fund responds to rising demand for sustainable food and stricter supply-chain regulations, positioning sustainable land use as an emerging asset class. Thomas Rivron of Abeille Assurances noted, “At Abeille Assurances we recognize the critical importance of integrating nature and biodiversity into our investment activities. Abeille Assurances is therefore committed to finance projects that directly address the main drivers of biodiversity loss such as change of land use and land degradation.” Similarly, Nicolas Boulet of Allianz France said, “Collaboration and long-term partnerships—across industries, the private and public sectors, and borders—are essential to advancing sustainable finance and creating a tangible impact.”
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Eric Béquet of BNP Paribas Cardif added, “As a responsible investor, we manage our policyholders’ savings in order to combine financial performance with a positive impact on society.” FMO’s Maurik Jehee and Proparco’s Françoise Lombard echoed the sentiment, with Lombard stating, “Proparco is delighted to support MSLF2 launched by Mirova, a trusted partner. This fund represents a remarkable initiative, aiming to deliver transformative, measurable impacts.”
With additional commitments expected in 2025 from foundations, governments, and multilateral funds, MSLF2 signals a maturing market for nature-based solutions, leveraging blended finance to bridge capital gaps in the Global South.
