Mirova Sustainable Land Fund 2 SLP RAIF (FMO-64312)

Regions
  • Latin America and Caribbean
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • Netherlands Development Finance Company (FMO)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
A
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Jul 17, 2025
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Mirova Sustainable Land Fund 2 SLP RAIF
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Agriculture and Forestry
  • Finance
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Fund, Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 11.62 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported 10
Converted using 2025-07-17 exchange rate.
Project Cost (USD)
$ 406.53 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported 350
Converted using 2025-07-17 exchange rate.
Primary Source

Original disclosure @ FMO website

Updated in EWS Sep 1, 2025

Disclosed by Bank Dec 16, 2024

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Contact the EWS Team

Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the Bank’s website, MSLF2 provides long-term financing for sustainable land use projects and companies that support the certified production of food and fiber value chains through sustainable forestry and sustainable agricultural practices. The Fund targets positive impacts in terms of climate mitigation and adaptation, biodiversity protection, community inclusion, and gender equality, and has an existing pipeline across Africa, Asia and Latin America.

By investing in MSLF2, FMO gains diversified exposure to a wide range of countries across the globe in sustainable forestry and agribusiness sectors. This investment is 100% Green label, as MSLF2 is in line with Climate Mitigation and Biodiversity objectives of FMO's Green Label, supported by international certifications such as the Rainforest Alliance and FSC. The 100% Reducing Inequality label also applies, based on MSLF2's gender approach and its alignment with the 2X criteria at both the fund and portfolio levels.

Early Warning System Project Analysis
For a project with severe or irreversible impacts to local community and natural resources, the Early Warning System Team may conduct a thorough analysis regarding its potential impacts to human and environmental rights.

Because of the global mandate, restrictions related to the Fund's exclusion list, as well as its forestry and regenerative agriculture and agroforestry sector focus, the Fund's E&S risk categorization is classified as 'Private Equity Risk Category A'. However, it should be noted that Category A investee companies are not pursued, and the investments sizes are relatively small. E&S risks most likely to be encountered at the investee level are expected to relate to IFC PS 1 to 4 (Risk management, Labor, Resource efficiency, and Community), PS 5 (Land Acquisition), PS 6 (Biodiversity), and PS 7 (Indigenous People). In addition, there are risks associated with human rights contexts in some areas of operation.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

Investment in a close-ended hybrid fund with a target size of EUR 350mln.

Total FMO financing: EUR 10.00 MLN

Funding: FMO NV

Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

Mirova Sustainable Land Fund 2 (MSLF2) is a close-ended hybrid fund with a target size of EUR 350mln, recently launched by Mirova. The Fund Manager is Mirova, the impact investment arm of Natixis Investment Managers.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Mirova SA Parent Company -

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

https://www.mirova.com/fr

No contacts available at the time of disclosure.

ACCESS TO INFORMATION

As part of FMO's ex-ante disclosure (disclosure of transactions before contracting), you can send requests or questions for additional information to: disclosure@fmo.nl

ACCOUNTABILITY MECHANISM OF FMO

Communities who believe they will be negatively affected by a project funded by the Dutch Development Bank (FMO) may be able to file a complaint with the Independent Complaints Mechanism, which is the joint independent accountability mechanism of the Dutch Development Bank (FMO) and the German Investment Corporation (KfW). A complaint can be filed in writing, by email, post, or online. The complaint can be filed in English or any other language of the complainant. The Independent Complaints Mechanism is comprised of a three-member Independent Expert Panel and it can provide either problem-solving, compliance review or both, in either order. Additional information about this accountability mechanism, including a guide and template for filing a complaint, can be found at: https://www.fmo.nl/independent-complaints-mechanism

How it works

How it works