Anew Climate Commits up to $640 Million to Terra Global to Accelerate Climate Finance for Nature-Based Solutions
Houston, TX | January 11, 2023
HOUSTON, TX (January 11, 2023) Anew Climate, LLC (“Anew Climate” or “Anew”), a leading climate solutions company, has committed up to $640 million to Terra Global Capital, LLC (“Terra Global” or the “Company”), a woman-led global leader in developing and financing nature-based climate solutions to produce positive social and environmental impacts. As part of its commitment, Anew will be the anchor investor in the Company’s Terra Bella Nature-Based Solutions Carbon Pool (“TB-NBS Pool”), a newly-formed investment vehicle designed to finance the development of high-impact, multiple benefit, verified emission reduction and removal projects in developing and emerging economies. The TB-NBS Pool aims to produce significant climate change mitigation benefits on up to 20 million hectares of improved forest and managed land and seeks to direct additional private sector climate finance funds to host countries. Anew’s commitment, along with capital from other investors, will be channeled to REDD+ and other sustainable landscape programs.
“Terra Global has been a pioneer in bringing private finance and markets to the forest and land-use carbon sector and we have tremendous respect for their history of impact, integrity, and leadership in the marketplace. We are excited to help accelerate their development of high-quality nature-based solutions (“NBS”) projects that are designed to deliver real, local community co-benefits,” said Randy Lack, Head of Portfolio Management for Anew Climate.
The TB-NBS Pool seeks to invest in jurisdictional programs and projects that reduce deforestation/degradation, improve forest management, support reforestation/afforestation, establish agroforestry systems, promote climate smart agriculture, and install rural energy efficiency infrastructure designed to create substantial rural income growth alongside climate change mitigation benefits. Terra Global uses a collaborative approach to NBS program design and implementation, coupled with innovative financial structures, to help create sustainable landscapes that are economically viable for a range of stakeholders, including governments, donors, local community groups, NGOs, and private sector participants.
“With Anew’s investment, we gain catalytic financial support to propel our growth and help deliver meaningful investment capital to NBS projects globally. Anew’s strong position in environmental markets under the leadership of CEO Angela Schwarz, along with their affiliation with TPG Rise, makes them an ideal investor for us to scale the expertise we have developed over the years,” said Leslie Durschinger, Founder, CEO and CIO of Terra Global.
Terra Global’s activities span the full NBS value chain, including program design, science-backed proprietary analytics, participatory monitoring approaches, and locally aligned business management training. The Company works on the ground to build local partners’ investment readiness to attract private sector climate financing and provide upfront funding that generates new carbon revenue streams designed to provide lasting benefits for rural communities in critical landscapes.
“We’re proud to partner with another woman-led business that drives the development and advancement of climate finance,” said Marc Mezvinsky, Partner at TPG and member of Anew’s Board of Directors. “Terra Global provides governments and project communities with much needed, long-term flexible financing to produce climate change mitigation and livelihood benefits, while supporting countries to meet their nationally determined contributions (NDCs). We believe that Anew’s partnership with Terra can create greater opportunities to scale our social and environmental impact.”
Anew Climate, LLC (“Anew”) is accelerating the fight against climate change by enabling companies and organizations to align their goals for conservation and impact with actionable next steps. With a comprehensive solutions portfolio that includes advisory services, carbon credits, renewable natural gas, renewable energy certificates, EV credits, and emission credits, Anew lowers barriers to participation in environmental markets for clients across the private and public sectors. As a leading marketer and originator of environmental products, the company brings together strategic finance, regulatory expertise, scientific knowledge, and impact focus to make it possible for businesses to thrive while building a sustainable future. Anew is majority owned by TPG Rise, TPG’s global impact investing platform, and emerged from the February 2022 combination of durational industry leaders Element Markets, LLC and Blue Source, LLC. The company has offices in the U.S., Canada, and Europe, and an environmental commodities portfolio that extends across five continents.
Director, Marketing & Communications
About Terra Global Capital
Founded in 2006, Terra Global is a woman-led, for-profit social enterprise and small business. Terra Global's mission is to facilitate financially, socially, and environmentally sustainable landscapes. Terra Global is a global leader in sustainable forest and agriculture program development, land-use greenhouse gas quantification and finance, and providing technical expertise and investment capital to their global client base in a collaborative and innovative manner. Having worked in 33 countries, Terra Global has designed and supported the implementation of REDD+ and other sustainable landscape programs from the project to national scale.
Since Terra Global’s founding, it has led the development of ground-breaking greenhouse gas quantification methodologies, program documents, and monitoring and implementation reports under Verra, American Carbon Registry, Climate Action Reserve, and the Carbon Fund Methodological Framework. From program design through monetization of verified emission reductions, Terra Global has developed innovative financial structures and transactions to create commercially viable sustainable landscape programs. Using its proprietary software and standard operating procedures, Terra Global has conducted greenhouse gas quantification in a spatially explicit manner and established pathways for crediting from project to national scale.