Finance & Investing

Green Bonds

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.


2023 Annual Impact Report

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

A man in a hat walks amongst growing vegetables with a greenhouse in the background.

Management of Living Natural Resources & Land Use

TNC supports sustainable, science-driven practices around sectors such as farming, fisheries and forestry, which can increase local economic opportunities while prioritizing stewardship of Earth's lands and waters.

A beach on the Gulf of Mexico with calm blue waters and a single person standing knee-deep.

Biodiversity Conservation

In support of the global effort to reverse biodiversity loss by 2030, TNC seeks to help thoughtfully protect, manage and restore critical ecosystems around the world.

A water treatment plant in Sao Paulo.

Water and Wastewater Management

Working with governments and other community partners, TNC supports projects that help sustainably manage Earth's dwindling freshwater resources, from enabling smarter usage at the tap to advancing watershed restoration at the source.

2 people in a small boat in an estuary.

Climate Change Adaptation

Healthy ecosystems are a strong ally for climate action—TNC helps lead strategic conservation projects where nature can reduce climate impacts and/or remove carbon from the atmosphere.

Aerial view of solar panels next to a grove of orchards.

Renewable Energy Transition

A rapid renewable energy build-out is essential to mitigating climate change, and TNC is committed to helping ensure that new infrastructure is smartly sited, avoiding the disruption of critical habitats and natural carbon stores.

Solar panels being installed at the TNC Tucson Conservation Center.

Energy Efficiency

TNC works in more than 70 countries worldwide, and we continually seek to improve the sustainability of our own facilities, including by improving energy efficiency.

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.

  • Sustainalytics 2023 Annual Review of TNC Green Bonds

    Green Bond Annual Review 2022


    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. Download the Sustainalytics Annual Review

  • Detailed overview of TNC's green bond initiative

    TNC's Green Bond Framework


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

  • Second-party opinion by Sustainanalytics on TNC's Green Bond Framework

    Green Bond Framework – Second-Party Opinion


    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. Download Sustainanalytics' full report.


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.