Month: April 2024

The SDG Impact Finance Initiative proudly presents the winners of our recent Product Window call for proposals. These projects stand out for their commitment to advancing the UN Sustainable Development Goals (SDGs) and catalyzing private investments towards these. An overall investment of CHF 5 million in form of first-loss equity will be distributed among these remarkable initiatives, propelling them towards realizing their impact goals.

Introducing Our Awardees

• Mirova Sustainable Land Fund 2 (SLF2): The SLF2 fund from Mirova is at the intersection of sustainable land use and climate action. By investing in forestry and agroforestry projects, they aim to combat deforestation, enhance carbon sequestration, and support biodiversity, making a direct impact on climate resilience and sustainable community livelihoods.
• Cardano Development AGRI3 Fund: With a focus on sustainable agriculture and forest conservation, the AGRI3 fund is poised to transform rural economies. By providing technical assistance and financial products to support the shift towards sustainable practices, they envision a future where agriculture contributes to environmental conservation and enhances rural livelihoods.
• On.Capital / SouthBridge Group Energy Go Getters Fund (EGGF): The EGGF fund is pioneering efforts to solve energy challenges in Sub-Saharan Africa. Their commitment to investing equity in scalable and impactful ventures promises to improve clean electricity access for 25 million people, leveraging cutting-edge technologies and business innovations.

These projects exemplify the power of impact investing to drive sustainable development and climate action. Their approaches—ranging from sustainable land management and conservation to renewable energy solutions—reflect a shared commitment to creating a more sustainable, equitable world.

The SDG Impact Finance Initiative is thrilled to support these transformative projects! Their work not only aligns with our mission to catalyze private sector capital towards impactful solutions but also demonstrates the tangible difference that innovative, sustainability-focused investments can make.

Together, we celebrate the achievements of our winners and look forward to their continued success in making a profound impact on our planet and its people.

Read the original article here.

ETG Group (“ETG”, the ‘’Company’’) announced that they have closed a USD 115m Sustainability-Linked Revolving Credit Facility (the “Facility”). The Facility represents a key milestone in the Group’s financing strategy, being the first syndicated and sustainability-linked facility, supported by a syndicate of seven financial institutions.

Sumitomo Mitsui Banking Corporation, DIFC Branch – Dubai acted as Sole Coordinator, Bookrunner, initial MLA and Joint Sustainability Coordinator, with Cooperative Rabobank U.A. as initial MLA and Joint Sustainability Coordinator (their commitment is partially guaranteed by the AGRI3 Fund). Mizuho Bank, Ltd joined as MLA and Bank of China Limited, Geneva Branch, JPMorgan Chase Bank, N.A., London Branch, Société Générale S.A. and The National Bank of Ras Al Khaimah (P.S.C) as Arranger.

The Facility is structured as a Sustainability-Linked Loan in line with the LMA Sustainability-Linked Loan Principles. It includes six Key Performance Indicators (“KPIs”) and Sustainability Performance Targets (“SPTs”) for the KPIs in the fields of decarbonization, reforestation, farmer extension services, and gender empowerment, supporting the Group’s strong commitment to improve the environmental and social impact of its operations and to invest in sustainable commodities and business practices.

ETG aspires to fully transform into a net positive business. To achieve this, the Group has developed a sustainability framework, focusing on three core principles, namely nature, people and business. The Netherlands based ESG research, ratings and data provider, Sustainalytics, provided a positive Second Party Opinion that assessed the materiality and relevance of the KPIs and the ambition of the SPTs.

The transaction generates niche social impact by enhancing food security, with a focus on improving the flow of agricultural commodities between Africa.

Paul van Spaendonk, ETG Chief Treasury Officer, commented: “Creating positive impact in the environment and the communities in which we operate is core to ETG’s vision. This inaugural sustainability-linked loan underlines ETG’s commitment to fully transform into a net positive business and the selected KPIs reflect our commitment to have a positive impact on nature, people and business. We are grateful to the syndicate for their support of this landmark transaction that will set the standard for the Group’s sustainable financing strategy going forward.”

About ETG

ETG has developed into a global player with a presence in more than 45 countries, spanning 6 continents.

The Group has a diverse portfolio of expertise across various industries, encompassing agricultural inputs, chemicals, logistics, processing, food and food ingredients, energy, metals, technology and supply chain optimization.

Over 7000 employees contribute every day to achieve our vision and purpose, and live our values of Respect, Integrity, Pursuit of Excellence, Leadership and Meritocracy.

ETG’s verticals are structured in a manner to emphasize focus and optimize strategic growth opportunities. We adapt and grow responsibly as a diversified enterprise, creating a sustainable future for all our stakeholders.

It holds a diversified portfolio of lenders including significant DFI support.

For more information:

E-mail:  [email protected]

Website: www.etgworld.com

Read the original publication here

The AGRI3 Fund is delighted to announce the appointment of Deniz Harut as CEO & Managing Director of the AGRI3 Fund, bringing 19 years of experience in emerging markets and sustainable finance.

Deniz Harut’s extensive background in investment management and sustainable finance garnered through her roles at Pollination Group and Standard Chartered Bank, underscores AGRI3 Fund’s commitment to pioneering transformative impact for mobilising capital at scale towards sustainable agriculture in the developing world.

Recognised for her strategic leadership and innovative financing solutions, Deniz has a proven track record of delivering value for clients and partners alike. Her profound understanding of emerging markets and sustainability further strengthens AGRI3 Fund’s capabilities.

Prior to joining AGRI3, Deniz served as an Executive Director at Pollination Group, leading initiatives to transition portfolios towards net-zero and nature-positive investments. At Standard Chartered Bank, she held various senior positions for over seventeen years. Her last role with the bank was as Head of Sustainable Finance, responsible for building and managing the regional Sustainable Finance team from inception in Europe and the Americas, leading the bank in its 2030 net-zero sector commitments by mobilising capital toward climate solutions and projects.

Beyond her professional achievements, Deniz is an avid plant-based chef with a deep interest in food systems and their link to health.

Commenting on the appointment, Joost Zuidberg, AGRI3 Fund Board Member stated: “we are thrilled to welcome Deniz to the team. With her proven track record of strategic leadership and unwavering commitment to excellence, we are confident that Deniz will steer the Fund towards continued success and growth.”

Bob Assenberg, AGRI3 Board Member added: “As a board, we look forward to working closely with Deniz to realise our collective vision and drive innovation to finance more projects and businesses which protect forests, engage in sustainable agriculture and support rural livelihoods.”

Deniz added “I am excited to be joining AGRI3 at a pivotal moment to scale its impact towards transforming agricultural systems. How we farm is at the core of the climate and nature crisis but also plays an important part in the solution. The ability to move the much-needed capital is not just an opportunity of a lifetime – it’s a privilege and a responsibility.”

About AGRI3 Fund – AGRI3 Fund, created by UNEP and Rabobank, along with partners IDH and FMO, aims to support the transition to sustainable agriculture. Supported by the Ministry of Foreign Affairs of the Netherlands and the Global Environment Fund (GEF) through Conservation International, AGRI3 Fund mobilizes public and private capital globally. FOUNT and Cardano Development are the Investment Advisors for the Fund which provides credit enhancement tools and technical assistance to projects that actively prevent deforestation, stimulate reforestation, and contribute to efficient sustainable value chains while reducing carbon emissions and improving rural livelihoods.

For further information, please contact:

Maria-Pia Kelly
[email protected]