Triodos Bank announces first BNG private sector loan to Nature Impact
Summary
These aim to provide new and improved homes for a wide range of English wildlife.This is the first private commercial debt package from Triodos Bank UK based on a BNG unit model. It follows a \xa33.85m loan to tree planting charity Avon Needs Trees, who acquired 422 acres of land that will eventually form part of Lower Chew Forest the largest new woodland in the South West for a generation.Laura Rumph, senior relationship manager for nature, food and resource at Triodos Bank UK, said: Triodos has been advocating for the critical role of the financial system in reversing biodiversity loss for more than four decades, and we are proud of our heritage as a frontrunner in financing nature-based solutions. Its BNG units will be sold to developers in London and the South East.Tom Nelson, co-founder of Nature Impact, said: Biodiversity Net Gain has the potential to drive huge growth in UK nature markets something we desperately need right now as we grapple with the shocking decline in our nations biodiversity.We are incredibly grateful to the team at Triodos for developing an innovative lending model that will enable us to transform the sites in Rolvenden and Wadhurst, and create havens for wildlife. It aims to be a leading natural capital developer, initially focussed on providing high-quality off-site BNG units for London and the Southeast, ensuring the supply of sought-after habitat types in key target locations. This will be achieved through innovative, nature-based and science-backed solutions, with the ultimate goal of restoring biodiversity, sequestering carbon, and unlocking a host of invaluable ecosystem services.