Pink flower on black background.
Financing Biodiversity One million species could face extinction this decade—but there's still time to take action to change that. © Jennifer Whitney/TNC Photo Contest 2019

Learn how The Nature Conservancy plans to use a $350 million green bond to accelerate essential conservation work this decade.

We know that this decade is critical for climate and biodiversity action. That's why in 2022, TNC issued and closed $350 million in bonds to help advance conservation projects that will make the biggest impact for the planet. With this level of capital, we aim to maximize support for nature and communities, as well as catalyze greater investment in our work.

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2024 Annual Impact Report

Read the second annual TNC Green Bond Impact Report, detailing approximately $230 million in allocations to date across 44 projects.

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More About Green Bonds

Frequently Asked Questions

  • A bond is money borrowed by a company that it needs to pay back to investors according to the terms of the bond.

  • It is a type of bond whose funds will only be used to advance projects with environmental benefits. TNC’s Green Bond follows the International Capital Market Association’s Green Bond Principles.

  • Most commonly, green bonds have been issued by corporations for specific capital projects like upgrading buildings to be LEED certified, adding solar panels to buildings, etc. Few green bonds have been issued by pure conservation organizations or non-profits to support a broader range of conservation projects. This is the biggest green bond issued to date in support of a conservation non-profit.

  • A conservation framework has been put together to allow as flexible of use as possible under green bond principles. All projects will be reviewed by TNC's conservation, finance and legal teams to ensure compliance with the green bond framework.

TNC Green Bond Resources

Browse documents available for download to learn more about TNC's green bond initiative.

  • Green Bond Annual Review 2024

    PDF

    TNC engaged Sustainalytics to review the projects funded with proceeds from the Green Bonds and provide an assessment as to whether the projects met the use of proceeds criteria and the reporting commitments outlined in TNC's Green Bonds Framework.

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  • Cover of the 2023 Green Bond report.

    2023 Annual Impact Report

    PDF

    Read the inaugural TNC Green Bond Impact Report, detailing approximately $145 million in allocations to date across 18 projects.

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  • Green Bond Annual Review 2023

    PDF

    TNC engaged Sustainalytics to review the projects funded with proceeds from the Green Bonds and provide an assessment as to whether the projects met the use of proceeds criteria and the reporting commitments outlined in TNC's Green Bonds Framework.

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  • TNC's Green Bond Framework

    PDF

    TNC's Green Bond Framework outlines how proceeds will advance conservation goals, and the definition of "eligible green projects."

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  • Green Bond Framework—Second-Party Opinion

    PDF

    Sustainalytics’ Second-Party Opinion reflects its independent opinion on the alignment of TNC's green bond framework with market standards in February 2022, and the extent to which the eligible project categories are credible and impactful.

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Our Goals for 2030

Tackling the climate and biodiversity crises over the next decade is a massive undertaking, and it involves countless partners, communities, funders, governments and businesses. With a grounding in rigorous science, we take innovative conservation approaches from idea to impact, scaling to achieve system change.