Kering and L’Occitane Join Forces to Launch €300 Million Climate Fund for Nature

At the COP15 convention on biological diversity, taking place in Montréal, global luxury group Kering and premium and sustainable cosmetics company L’Occitane Group announced a collaboration to create the ‘Climate Fund for Nature’.

The new fund will mobilise resources from the luxury fashion and beauty sectors to protect and restore nature, with a particular focus on the empowerment of women.

The fund will be managed by Mirova, the affiliate of Natixis Investment Managers, which is 100 percent dedicated to sustainable investing.

€140 million has already been committed to the fund and the fund will be open to new partner companies to support the scaling up of its positive impacts on the ground.

The fund will start operations as of Q1 2023, with the objective of supporting high-quality projects dedicated to nature protection and restoration, the fund will also support farmers in their transition to regenerative practices, deliver carbon credits, and generate co-benefits for the communities with a specific emphasis on women empowerment.

Eligible projects will mostly take place in countries where the investors source their core raw materials. The project’s progress will be monitored to ensure they deliver measurable outcomes for nature, climate and livelihoods.

The projects supported will also be required to significantly contribute to empowering women by addressing existing gaps related to access to finance, land and training. To that end, the fund and Mirova will collaborate with 2X Collaborative, a global industry body for gender lens investing.

“The Climate Fund for Nature provides an opportunity for the luxury fashion and beauty sectors to collectively support biodiversity restoration and conservation at scale,” said Marie-Claire Daveu, Chief Sustainability and Institutional Affairs Officer of Kering.

“Innovative financing mechanisms are crucial to channel much-needed investment into nature-based solutions if we are to reverse biodiversity decline by 2030 and, simultaneously, address climate change, which is intrinsically interlinked with nature. We entreat further companies to join this ambitious initiative to contribute to a nature-positive future.”

#ClimateFund #Kering #L’Occitane