Private investment manager Ardian is joining forces with French forest and biodiversity operator aDryada to finance large-scale nature-based projects offering carbon credits.
Ardian manages or advises on $150 billion in private equity, real assets and credit strategies. Ardian France will manage the new fund.
The joint strategy, Averrhoa Nature-Based Solutions, will finance projects restoring forests, wetlands and mangroves to offer natural carbon sinks that can sequester up to 150 million tons of carbon. That would generate carbon credits verified by third parties, the firms said in a joint news release Sept. 28.
They noted that global demand for voluntary carbon credits has already quadrupled over the past five years and is poised for rapid growth.
The partnership aims to deploy $1.6 billion in carbon sequestration projects worldwide, particularly in emerging countries, aDryada CEO Fabio Ferrari said in the news release. There will also be "substantial net gains in terms of biodiversity and socioeconomic benefits for local populations," said Laurent Fayollas, Ardian's deputy head of infrastructure, in the release.