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News focused on funding & financing nature-based solutions
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As we face another record-breaking hot summer; epic, repeated flooding in places like Vermont; and wildfires that continue to grow in size, number, and severity in the western United States, climate change is on our minds. But we also see hope in solutions that use natural infrastructure to adapt to and mitigate the effects of ever-more-severe natural disasters. Preserving floodplains and restoring forest health has never felt more urgent at a time when we need to utilize every tool at our disposal to combat climate change. It is therefore gratifying to read about the EPA’s recent Climate Pollution Reduction Grant awards, which recognize that natural and working lands play a critical role in climate adaptation and mitigation (see below). Out of the $4.3 billion in grants awarded, $931 million will support nature-based solutions. Among the latter grantees, a coalition of partners in North Carolina, South Carolina, Virginia, and Maryland, led by The Nature Conservancy and Duke University, aims to protect or restore 200,000 acres of coastal habitats, forests and farmland. We applaud this coalition, as well as the other grantees, for leading with Nature and look forward to what they accomplish and learn.
No conservation group gets its work done without skilled practitioners, and CFN is no exception. We are looking to hire a Project and Operations Manager, who will play a key role in managing operations at CFN. Applications are due September 1st, though applications will be reviewed as received. Thanks for spreading the word!
We close with a note of appreciation to Jessica Brenner, who has served as a key member of our team in the short time she was with us. Thank you.
Katie Michels Director of Partnerships Conservation Finance Network
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| We partner with the Center for Business and the Environment at Yale University to develop web articles about innovations in the field of conservation finance. We are excited to share two pieces developed and finalized this spring by graduate student writers.
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| Seeding New Capital: Understanding Private Capital for a Regenerative Agriculture Future Will Slotznick has conducted a thorough overview of financing trends in US regenerative agriculture in 2024, focused on innovations in private investment. He conducted interviews with more than a dozen expert investors, advisors, and conservation practitioners to outline the private investment case for regenerative land management, spotlight a few investment firms and other ecosystem players investing in regenerative agriculture and farms today, and describing opportunities for non-profit conservation organizations to support this work.
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The Greenhouse Gas Reduction Fund, Green Banks, & Nature-Based Solutions: An Interview with Matt Carney, Quantified Ventures Aditi Srivastava sat down with Matt Carney, Senior Director for Green Banks and Resilient Finance at Quantified Ventures, who has been monitoring the EPA awards, to learn more about the opportunities and challenges to elevate nature-based solutions in this new funding program.
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| New Deadline for Funding Opportunity for Tribes The Forest Service has announced an extension of the application deadline for the funding opportunity, "Tribal Access to Emerging Private Markets for Climate Mitigation and Forest Resilience," to September 30, 2024. This initiative aims to support federally recognized tribes, Alaska Native corporations, and villages in participating in emerging markets that promote climate mitigation and forest resilience. Applicants can find detailed information and application materials on grants.gov, also available through this link, with a summary fact sheet available through this link for quick reference.
This funding opportunity provides at least $20 million in competitive funds to eligible entities, which include federally recognized tribes, Alaska Native corporations, and tribal organizations as defined by the Indian Self-Determination and Education Assistance Act. The proposed activities must benefit nonindustrial private forest land, which encompasses rural, forested areas owned by tribes, tribal members, or non-Tribal private forest landowners. Both trust lands and fee lands are eligible for these projects. (USDA Forest Service)
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Case Studies of Performance-Based RCPP Projects, by Harry Huntley (EPIC) This Environmental Policy Innovation Center (EPIC) report examines case studies of performance-based Regional Conservation Partnership Program (RCPP) projects. The report highlights the need for conservation programs to evolve with modern understandings of human behavior and incentives, promoting experimentation to achieve effective conservation outcomes. EPIC's agriculture program focuses on creating demand for conservation outcomes, ensuring cost-effective spending, and incentivizing new solutions to resource concerns, with support from private sector funding and transforming government policies to focus on outcomes.
The report details various RCPP projects across the United States that utilize performance-based payments to achieve environmental outcomes. Examples include Vermont's Pay-for-Phosphorus Program, which compensates farmers for phosphorus reduction, and the Soil and Water Outcomes Fund, which operates in five states to reduce nitrogen runoff and generate carbon credits. Other projects include EPIC's Clean Water Commerce project in Maryland, which mirrors the state's program to reduce nitrogen, and Michigan's Saginaw Watershed ASSET Program, which compensates sugar beet farmers for sediment runoff reductions. These projects demonstrate the diversity in outcome quantification, baseline setting, and cost-effectiveness benchmarking, despite challenges like NRCS staff unfamiliarity with performance-based payments and compliance requirements.
The report suggests that performance-based payments in RCPP projects could transform USDA's conservation funding approach, and ultimately, the insights and recommendations aim to increase the prevalence and success of performance-based RCPP projects. (Environmental Policy Innovation Center)
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| Additional News & Resources
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Report: Recreation Funding in America. The Outdoor Recreation Roundtable (ORR) has released a comprehensive report by Southwick Associates, Inc. detailing federal funding for outdoor recreation and identifying future financial threats due to evolving energy demands, participation changes, and climate impacts. The report underscores the critical need for innovative funding solutions. (Outdoor Recreation Roundtable)
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Press Release: Private Financing for Nature. New research from The United Nations Environment Programme Finance Initiative (UNEP FI) and partners shows that private finance for nature has surged from $9.4 billion to over $102 billion in four years, with projections suggesting $1.45 trillion could be directed towards nature-related investments by 2030. This rapid growth, driven by alternative investments, traded debt, and private equity, underscores the potential to close the global biodiversity financing gap outlined in the Kunming-Montreal Global Biodiversity Framework. (UNEP FI)
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Press Release: USDA Private Forest Landowners Grant. The U.S. Department of Agriculture’s Forest Service announced a $190 million grant program to aid private forest landowners in adapting to climate change and maintaining forest health, funded by the Inflation Reduction Act as part of President Biden's Investing in America agenda. This initiative will provide $140 million for state-endorsed cost-share programs and $50 million for direct payments to landowners to enhance carbon sequestration and forest resilience. (USDA)
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Brief: Enhancing the Greenhouse Gas Reduction Fund. The John D. and Catherine T. MacArthur Foundation (MacArthur) contracted with the Center for Impact Finance at the University of New Hampshire’s Carsey School of Public Policy to identify and assess the ways foundations and other catalytic capital investors can support the effective and equitable implementation of the Greenhouse Gas Reduction Fund (GGRF). This brief provides information on how to leverage the Greenhouse Gas Reduction Fund. It was prepared for the investor community but includes market information and investment principles relevant to all stakeholders. (Carsey School of Public Policy)
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Article: Peatlands in Carbon Markets. Peatlands, covering about 3% of the Earth's land surface, are exceptional carbon sinks storing more carbon per unit area than any other ecosystem. Despite their critical role in sequestering greenhouse gases and regulating water flow, peatlands receive minimal attention in carbon markets, highlighting a significant opportunity for growth in climate finance solutions to protect and restore these vital ecosystems. (Gordian Knot Strategies)
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Article: EPA’s Climate Pollution Reduction Grants Awarded. On July 22nd, the United States Environmental Protection Agency (EPA) announced $4.3 billion in Climate Pollution Reduction Grants (CPRG). $931 million in CPRG funds will support coastal and forestland protection or restoration and improved agricultural land management practices. Overall, CPR funds will support work in 30 states for projects that reduce greenhouse gas emissions and help states implement their climate action plans. (EPA)
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Report: In the Voluntary Carbon Market, Buyers Will Pay for Quality. Organizations are increasingly purchasing credits in the voluntary carbon market to meet climate commitments, but little research exists on buyer preferences for credit quality. A survey by BCG and EDF found that buyers prioritize high greenhouse gas impact scores, transparency, and measurement, reporting, and verification, with willingness to pay more for high-quality credits, highlighting the importance of guiding suppliers and third parties in elevating VCM standards. (BCG)
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Report: 2024 State of the States. This new report explores 25 years of connectivity legislation and case studies showcasing successful approaches. Learn more about the impact of federal policy, the role of wildlife corridors, the importance of coordination among government agencies, tribes, NGOs, and other partners, and the need for funding to support wildlife connectivity projects. (Wildlands Network)
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Library: Federal Funding Opportunities. The Climate Mapping for Resilience & Adaptation (CMRA) webpage details various federal funding opportunities across different hazards such as extreme heat, drought, coastal inundation, flooding, and wildfires, offering resources for pre-disaster planning, hazard mitigation, and infrastructure resilience. These programs provide financial and technical assistance to enhance community resilience and support climate adaptation efforts. (CMRA)
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| USDA Natural Resources Conservation Service
Forest Landowner Support
Applications Due: September 30, 2024
USDA Forest Service
Applications Due: September 18, 2024
Applications Due: September 18, 2024
US Department of the Interior Indian Affairs
Applications Due: October 18, 2024
Environmental Protection Agency
National Oceanic and Atmospheric Administration
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| Virtual & In-Person Events
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Executive Director Wyoming Outdoor Recreation Business Alliance Wyoming, USA (travel required around the state)
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