In order to achieve LDN by 2030, there is a need to mobilize large amounts of financial resources for land rehabilitation and degradation avoidance. Public resources alone will not be sufficient. Attracting private sector financing will be crucial. The UNCCD Global Mechanism is collaborating with specialized experts and advisors to develop the LDN Fund. Mirova, an affiliate of Natixis Investment Managers dedicated to responsible investing, has been selected as the Fund structuring partner.
Since the inception of the LDN Fund project, the UNCCD has been pursuing a collaborative approach with leading non-governmental and public international institutions whose knowledge and experience contribute to the development and refinement of the Fund.
The Global Mechanism and Mirova are assisted by an Advisory Group drawn from senior members of the Fund’s main stakeholders. It actively contributes to the Fund’s development and structuring process by advising on key issues, such as the environmental and social performance standards.
Hosted by WWF International, the first meeting of the Advisory Group took place on 29 April 2016 in Gland, Switzerland.
The meeting gave important recommendations on several emerging features of the LDN Fund, which are intended to facilitate progress in its development going forward. The meeting discussed four main topics:
- LDN Background and market study
- LDN Fund overview, governance and emerging pipeline
- Technical Assistance Facilities
- Environmental & Social Safeguards, Performance Standards and Eligibility Criteria
Following the AG meeting, the structuring of the Fund will continue, in parallel with the development of the initial project pipeline.
It is envisioned that the LDN Fund will be launched by the end of 2016.