01 / SAFEGUARD

OUR STRUCTURE

&Green is a Foundation (“Stichting”), established in the Netherlands in 2017. Its governance structure is designed to safeguard the environmental and social return as well as the financial and commercial sustainability of the Fund and its investments.

Our Structure
02 / ENDORSEMENT

CONTRIBUTORS

&Green currently has USD 144 million in capital committed through grants, redeemable grants and loans from its contributors. Despite this encouraging endorsement of the Fund’s purpose, &Green is still actively raising capital and invites additional contributors to join our mission.

Nicfi

&Green was developed and set up by IDH Sustainable Trade Initiative under close collaboration with NICFI, Norway’s International Climate and Forest Initiative. NICFI is also the anchor investor in &Green, committing the NOK equivalent of USD 100 million as a grant.

USD 1m of the NICFI contribution has been ringfenced for a dedicated Technical Assistance budget (TA Budget).

Unilever Group

The Unilever Group is an influential multinational consumer goods company which committed to a redeemable grant of USD 25 million at the beginning of 2018.

GEF

In 2019 the Global Environment Facility (GEF), acting through the United Nations Environment Programme (UNEP) invested USD 2 million as a redeemable grant.

FMO

FMO is the Dutch entrepreneurial development bank. As a leading impact investor in sustainable private sector growth, FMO has invested in over 80 countries, supporting jobs and income generation with the aim of making the world a better place than it was when we first started. In 2021, FMO committed USD 25 million in long-term funding to &Green.

DBEIS

Mobilising Finance for Forests (MFF) is as a blended finance investment program funded by the UK government’s BEIS department and managed by FMO to combat deforestation and other environmentally unsustainable land use practices contributing to global climate change. In 2021, FMO approved an investment of USD 33.25 million by MFF in to &Green). 

Ford Foundation

In 2021, the Ford Foundation invested into the &Green Technical Assistance budget in the form of a grant. This contribution is subject to &Green’s Technical Assistance governance and guidelines.

03 / GOVERNANCE

ADVISORY BOARD

Contributors to the Fund, as well as regional political and business experts, are represented on the Advisory Board. The Advisory Board defines the lending guidelines and approves all Jurisdictions in which the Fund is able to invest.

Helen Clark

RT HON. HELEN CLARK
CHAIRPERSON OF THE &GREEN ADVISORY BOARD
FORMER PRIME MINISTER OF NEW ZEALAND
FORMER ADMINISTRATOR OF UNDP

Helen Clark was Prime Minister of New Zealand for three successive terms from 1999 to 2008. She was the first woman to become Prime Minister following a General Election in New Zealand and the second woman to serve as Prime Minister.

Throughout her tenure as Prime Minister and as a Member of Parliament over 27 years, Ms. Clark engaged widely in policy development and advocacy across the international affairs, economic, social, environmental, and cultural spheres. She advocated strongly for a comprehensive programme on sustainability for New Zealand and for tackling the challenges of climate change. She was an active leader of her country’s foreign relations, engaging in a wide range of international issues.

In April 2009, Ms. Clark became Administrator of the United Nations Development Programme. She was the first woman to lead the organisation, and served two terms there. At the same time, she was Chair of the United Nations Development Group, a committee consisting of all UN funds, programmes, agencies, and departments working on development issues. As Administrator, she led UNDP to be ranked the most transparent global development organisation. She completed her tenure in April 2017.

Prior to entering the New Zealand Parliament, Ms. Clark taught in the Political Studies Department of the University of Auckland, from which she earlier graduated with her BA and MA (Hons) degrees.

Ms. Clark continues to speak widely and be a strong voice on sustainable development, climate action, gender equality and women’s leadership, peace and justice, and action on non-communicable diseases and HIV. She serves on a number of advisory boards and commissions, including as Chair of the Board of the Extractive Industries Transparency Initiative, and Chair of the Board of the Partnership for Maternal, Newborn, and Child Health. From July 2020 to May 2021, Ms. Clark was a Co-Chair of The Independent Panel for Pandemic Preparedness and Response which was set up by the World Health Organisation’s Director General at the request of the World Health Assembly (WHA).

Eloy Lindeijer

Eloy Lindeijer is a pension industry veteran and former Dutch central banker. He was Chief Investment Management and member of the Executive Committee of PGGM from 2011-2020.

Since leaving PGGM, Eloy has taken on a variety of roles. He chairs the supervisory board of Ahlström Invest and is a independent non-executive board member of the Wisayah Investment Company. He is a member of the board investment and risk committees of Hassana Investment Company and an advisor to AustralianSuper and Hillhouse Investment Management. In the non-profit field Eloy chairs the board of the Global Impact Investing Network (GIIN) and is a trustee of the Van Leer Group Foundation.

Eloy was a member of TCFD, the Bloomberg Task Force on Climate-related Financial Disclosures and member of the High Level Forum on Capital Markets Union, an advisory body to the European Commission. More recently he acted as temporary special advisor to the Netherlands Council for the Environment and Infrastructure, an advisory body to the Dutch Government and Parliament.

He studied business administration at Nyenrode University and international relations at SAIS Europe, the School of Advanced International Studies of the Johns Hopkins University.

Mari Pangestu

Mari Pangestu was the World Bank Managing Director of Development Policy and Partnerships, March 2020-2023. Prior to joining the Bank Mari Pangestu served as Indonesia’s Minister of Trade from 2004 to 2011 and as Minister of Tourism and Creative Economy from 2011 to 2014.

She has had vast experience of over 30 years in academia, second track processes, international organizations and government working in areas related to international trade, investment and development in multilateral, regional and national setting.

Most recently, Ms Pangestu was a Senior Fellow at Columbia School of International and Public Affairs, as well as Professor of International Economics at the University of Indonesia, honorary professor at the Crawford School of Public Policy, Australian National University and a Board Member of the Centre for Strategic and International Studies (CSIS), Jakarta.

Ms Pangestu is highly regarded as an international expert on a range of global issues and has served on a number of boards and task forces such as, the Chairperson of the Board of Trustees of the International Food Policy Research Institute (IFPRI) in Washington D.C and commissioner for the Low Carbon Development Initiative of Indonesia as well as an executive board member of the International Chamber of Commerce (ICC). She has also served on the board of a number of private sector companies.

She obtained her bachelor’s and master’s degree in economics from the Australian National University, and her doctorate in economics from the University of California at Davis.

Rosine Coulibaly

Rosine Sori-Coulibaly is a Seasoned development and experienced player with more than 35 years of professional dedication to sustainable development, humanitarian coordination, political dialogue, good governance, gender equality and women’s empowerment. She has demonstrated result-oriented leadership with sustainable achievements in organizational effectiveness, efficiency and impact.

She is currently the President of the Sahel and West Africa Club (SWAC), a platform hosted by the Organisation for Economic Co-operation and Development (OECD), to promote regional policies and provide solutions to food security and long-term economic growth.

From 2016 to 2019, Rosine served as Minister of Economy, Finance and Development for Burkina Faso and briefly as Minister of Foreign Affairs in 2022. In that capacity, she led the design and implementation of innovative economic, financial, budgetary, procurement and tax policies, as well as the planning of public investments. She provided strategic oversight to the coordination of development work in line with the SDGs, and promoted constructive dialogue with the donor community including the private sector.

She was ranked top performer Minister of Finance in West and Central Africa in 2017.

Prior to joining Government, she served for two (2 ) decades the United Nations in various senior-level positions in Burundi, Togo, Benin, Mauritania, and Guinea Bissau where she was Assistant Secretary General and Special Representative of the UN Secretary General Antonio Guterres. In that respect, she facilitated political transitions and national reconciliations, supported electoral processes, and led humanitarian assistance and recovery programmes.

In both Government and in the UN, Mrs Sori- Coulibaly worked closely with bilateral and multilateral organizations, notably the World Bank, the IMF, and the African Development Bank. She is a board member of several philanthropic organisations and think tanks, and active on Human and Women Rights matters. In 2022, she founded “Burkinabe Unis pour la Transformation Sociale”, a Movement that raises awareness on political and economic governance for social transformation.

Mrs Sori -Coulibaly holds a post graduate degree (Diplôme d’Etude Approfondie) in Planning and Macroeconomics from the United Nations Institute of Development Economy , as well as a Master degree (Diplôme d’Etudes Supérieures Spécialisées) in Development Economics from the University of Dakar, Senegal.

Per Fredrik Ilsaas Pharo

PER FREDRIK ILSAAS PHARO
MEMBER OF THE &GREEN ADVISORY BOARD
DIRECTOR OF PARTNERSHIPS AND SHARED PROSPERITY AT NORAD

Per Pharo is Director of Partnerships and Shared Prosperity at Norad, the Norwegian Agency for Development and Cooperation. Prior to this role, Mr. Pharo served as Deputy Director of the Government of Norway’s International Climate and Forest Initiative (NICFI), under the Norwegian Ministry of Environment, from its inception in 2008 until October 2011 when he was appointed as Director. NICFI was set up to deliver on the Norwegian Prime Minister, Jens Stoltenberg’s Bali promise to annually spend up to 3 billion Norwegian kroner to contribute towards reducing the greenhouse gas emissions caused by deforestation and forest degradation in developing countries.

Before joining NICFI, Mr. Pharo worked at McKinsey & Company’s Oslo office; at the Norwegian Ministry of Defense (on security policy, defense policy and defense transformation), and as a researcher at the Norwegian Institute of Defense Studies. He has a Candidatus Philologiae degree in history from the University of Oslo, Norway, and a BA in International and US politics and history from Augustana College, Sioux Falls, South Dakota, USA.

Sabine Miltner

SABINE MILTNER
PROGRAM DIRECTOR, CONSERVATION AND MARKETS INITIATIVE
GORDON AND BETTY MOORE FOUNDATION

Sabine Miltner joined the Gordon and Betty Moore Foundation, a $9 billion private foundation in the United States, in 2016. She oversees the foundation’s work on decoupling food production from ecosystem degradation. Approved through 2026 with a total budget of $400 million, the Conservation and Markets Initiative targets ending deforestation, conversion and overfishing in the production, sourcing, and financing of the most important food commodities, by aligning market incentives with conservation outcomes.

Since joining Moore, Ms. Miltner has been on the board of several organizations, including IUCN-US. She is currently co-chairing the Sustainability Council of Bayer AG, a global life sciences company.

Prior to philanthropy, Ms. Miltner’s career as a finance professional spanned the public and private sectors with a focus on sustainability/climate change and developing countries.

Ms. Miltner was a Managing Director and the Group Sustainability Officer of Germany-based Deutsche Bank AG and worked with senior management on the step-wise integration of sustainability and financial goals. She also co-chaired the bank’s steering committee on climate change.

Previously, Sabine was a director at the Institute of International Finance, leading the work to improve conditions for private investment in developing countries. She started her career as an economist at the International Monetary Fund working in Africa, Eastern Europe and the Caribbean.

Sabine earned a PhD in economics from Harvard University and a M.A. in economics from the University of Mannheim, Germany.

04 / GOVERNANCE

BOARD OF DIRECTORS

The Board of Directors is appointed by the Advisory Board and is the main decision-making body, responsible for the management and investment decision making of the Fund. The Board outsources most activities of the Fund to expert service providers, in particular the Investment Manager.

Nanno Kleiterp

NANNO KLEITERP
CHAIRPERSON OF THE &GREEN BOARD OF DIRECTORS
HONORARY CHAIRMAN OF THE EUROPEAN DEVELOPMENT FINANCE INSTITUTIONS (EDFI)

Nanno Kleiterp is a Board Member at Arise, a leading African investment company backed by three investors, Norfund, Rabobank and FMO. Arise has US$ 1bn in assets under management and is a minority shareholder in about 10 locally-owned financial services providers in Sub-Saharan. Mr. Kleiterp is also a Board Member at Sudameris Bank, a leader in the creation of the round table for sustainable finance in Paraguay. Sudameris is the 4th largest bank in Paraguay, with US$ 1 bn in assets. He has also recently been appointed Chairman of the Board of ILX Management, the manager of emerging market focused private credit fund, ILX Fund I.

In 2019 Mr. Kleiterp was appointed Honorary Chairman of the EDFI, an association that comprises 15 European bilateral DFIs and a total investment portfolio of EUR 40 billion committed to supporting the private sector in developing countries. He was the first independent Chair of EDFI from 2017 to 2019.

Mr. Kleiterp has been Chairman of the Board of Trustees of the Van Leer Foundation, which promotes Early Childhood Development, since 2018 and he is a Member of the Advisory Board of Commonland, which aims to transform degraded landscapes into thriving ecosystems and communities based on sound business cases and aligned with international policies and guidelines. He is also a Member of the Advisory Board at Form International, a forest management and services company that manages forest assets in Africa and delivers a range of technical and financial services to clients worldwide, and is Chairman of the Board of the International Union for Conservation of Nature (IUCN) in the Netherlands. Since 2018, he is also a Fellow of the World Resource Institute (WRI).

From 1987 to 2016, Mr. Kleiterp held a number of positions at FMO, the Dutch development bank, including serving as the Chief Executive Officer from 2008 to 2016.

In 2016, he published the book ”Banking for A Better World” (Amsterdam University Press), which lays out the case for transformational investments in developing countries and the role of Development Finance Institutions.

Claudia Arango

MEMBER OF THE &GREEN BOARD OF DIRECTORS

 

Claudia Arango is an accomplished private equity and impact investor with a proven track record and more than 20 years of international experience in private markets across a diverse number of sectors including agribusiness, telecom, logistics, transportation, retail, media, and industrial services.  During Claudia’s career, she has provided board leadership to several organizations in Latin America and the US where she has successfully guided companies to grow both domestically and internationally through her strategic leadership, M&A expertise, and hands-on approach.

 

Ms. Arango is currently a Managing Partner of Exagon Impact Capital (“XIC”), a private equity firm with a mission to achieve superior returns in infrastructure investments in Latin America and the Caribbean while simultaneously achieving a positive impact integrating strict ESG guidelines into the investment decision and project execution. Previously, Ms Arango was a Director with the AIG Global Emerging Markets Private Equity Group and she is the former Managing Director and founding member of the Latin American Private Equity Fund at The Rohatyn Group (“TRG”) in New York, a leading multi-billion asset management firm focusing on emerging markets.

 

Ms Arango received an M.Sc. in Finance from the University of Maryland and a B.S. in Industrial Engineering from the Universidad de los Andes in Bogotá, Colombia.

Mark Eckstein

MARK ECKSTEIN
MEMBER OF THE BOARD OF DIRECTORS

Mark Eckstein has over 30 years’ experience driving sustainability impact in emerging markets. He was the UK DFIDs environmental adviser for Africa between 1994 and 1998 during which time he oversaw environmental programs in Ghana, Egypt, Botswana, South Africa and Swaziland (Eswatini). At the International Finance Corporation (IFC), he led the Environmental and Social (E&S) due diligence and portfolio management work for IFCs agribusiness portfolio and also established a technical advisory fund to help IFC’s portfolio clients leverage E&S performance to increase business and market opportunities.

He has been closely involved in the establishment of voluntary sustainability standards in the sugar, cotton and aquaculture sectors and worked at WWF US between 2007-13 where he was Managing Director for International Finance. Between 2013 and 2021 Mark was Director of Environmental Social and Governance Impact at the CDC Group where he led a team of 20 E&S specialists working on CDCs portfolio across S Asia and Africa. Most recently (2021-233) he was Impact Director at the Scottish National Investment Bank in Edinburgh, where he set up the Bank’s impact monitoring and reporting processes.

He brings direct and significant working experience in more than thirty countries, including key &Green jurisdictions.

Mark has a BSc in Environmental Science and an MSc Applied Hydrobiology from the University of Wales.

05 / GOVERNANCE

CREDIT COMMITTEE

The Credit Committee is a body of independent investment and sustainability experts appointed by the Board of Directors to safeguard the environmental, social and financial compliance of investment proposals with &Green’s guidelines. It assesses the documentation submitted by &Green’s investment advisor and makes a recommendation to the Board of Directors.

Lidwien Schils

LIDWIEN SCHILS
MEMBER OF THE &GREEN CREDIT COMMITTEE
GENERAL MANAGER OF RABOBANK

Lidwien Schils is Managing Director of Rabo Foundation, a foundation that invests in a positive change towards an honest and inclusive society, mostly focusing on social enterprises in the Netherlands as well as on smallholder farmers in Africa, Asia and South America. Before, she was General Manager of Rabobank in Belgium with a wholesale business active in the Food and Agri sector as well as in sectors contributing to the energy transition. Until 2019 she headed the European Project Finance team of Rabobank for eight years. Focus was especially on renewable energy projects during a time when the sector was going through substantial growth. She gained a solid experience on specifically wind, solar and biomass projects and on the sector in general. During this time she also was member of the credit committee with Rabobank. Before, Ms. Schils had been working with different banks in various sectors, including energy and F&A. Prior banks include ING, Vienna (trade finance), FMO, The Hague (lending and syndication), EIB, Luxembourg (global loans). Next to her current role, she serves as Board Member to FRES, a company providing energy services to small businesses and households in Africa.

Ms. Schils brings more than 25 years of banking experience in various countries, products and sectors.

Lucian Peppelenbos

LUCIAN PEPPELENBOS
MEMBER OF THE &GREEN CREDIT COMMITTEE
CLIMATE STRATEGIST AT ROBECO

Lucian Peppelenbos works with Robeco as Climate Strategist. In this role, he oversees Robeco’s work on decarbonizing the investment portfolios and integrating climate-related risks and opportunities in the investment processes. Thought leadership and publications are also part of his role, in collaboration with peer investors, academics and policy institutions.

Prior to joining Robeco, Mr. Peppelenbos was Senior Responsible Investment Specialist at APG Asset Management, where he led their climate strategy. Before that, he helped to set up IDH The Sustainable Trade Initiative, a public-private partnership that co-invests with corporates to enhance the sustainability performance of commodity supply chains.

Socio-economist by training, Mr. Peppelenbos’ professional career focused on corporate sustainability. He worked as a supply chain consultant for companies operating in emerging markets, and as a policy advisor in the Dutch Parliament. He earned a PhD in social-economic sciences at Wageningen University, and has published various books and articles. Lucian worked and lived for many years in Latin America, and worked across various countries in Africa and Asia.

05 / SPECIALISTS

INVESTMENT MANAGER

SAIL Investments was appointed as the specialist investment manager to &Green at its inception and has delivered high quality investment advice and services to the Fund. SAIL is a boutique investment firm headquartered in the Netherlands and investing only in assets that generate measurable sustainable returns. 100% management-owned, SAIL has a small but focused team of highly experienced professionals working on the &Green Fund, with over 270 years of collective experience in the Agri-finance sector across its offices globally. The team combines financial acumen with extensive environmental and social expertise. Environmental, social and governance aspects are fully integrated into its investment process.

The Board of Directors has delegated the oversight of the day-to-day business and operations of the Fund to SAIL to manage in accordance with the Fund’s articles and policies (in particular the Lending Guidelines and Environmental and Social Management System, or ESMS), and the resolutions of the Board. The Investment Manager is specifically responsible for fundraising and implementing the investment strategy and process. SAIL supports the Board in all relationships with the Fund’s current and potential clients and contributors, civil society organisations, co-investors and other key stakeholders.

SAIL INVESTMENTS
07 / OUR PARTNERS

PARTNERSHIPS

&Green works in close collaboration with existing initiatives and organizations working to protect and restore tropical forests. All of the Fund’s collaborations are on a non-exclusive basis.

IDH – The Sustainable Trade Initiative

IDH lead the development of the &Green Fund together with NICFI and was the incorporator of the Stichting andgreen.fund. IDH and &Green work collaboratively and have outlined their joint ambition in a Memorandum of Understanding. Through its country offices, and through the international sustainable landscapes programme, IDH works closely with public and private actors, in key jurisdictions for &Green, to develop potential projects of interest for the Fund, and to support local government in meeting the Fund’s Jurisdictional Eligibility Criteria.

At a global level, IDH accelerates sustainability within the value chains of various sector programmes through its strategy for 2016 – 2020 entitled ‘Innovating Impact @ scale’. The strategy develops impact coalitions between companies, NGOs, governments, trade unions, financial institutions, and universities that strive for impact for public good.

UN Environment Programme

The UN Environment Programme (UNEP) and &Green have concluded a Memorandum of Understanding setting out their collaboration in catalyzing private finance for sustainable agricultural commodity production decoupled from deforestation, and to promote the protection and restoration of forests and peatland for the benefit of people, the climate, biodiversity, food and water security. UNEP and &Green will mutually support each other to channel private finance into sustainable land use.

As &Green’s partner, UNEP acts as the implementing agency for the contribution from the Global Environment Facility (GEF) and supports &Green’s communications and monitoring, reporting and verification (MRV) efforts. UNEP also facilitates collaboration with other relevant finance facilities and UNEP initiatives, and creates an enabling environment by raising awareness amongst UNEP’s member states on how &Green can help meet international agreements on restoration, climate and biodiversity.

In the coming years, both parties aim to further intensify the partnership and play a key role in the necessary transformation towards land use and agricultural production models that better balance the need to protect forests, improve rural livelihoods while enhancing efficiency and yields to produce enough food for a growing world population.

 

Good Growth Partnership

The Good Growth Partnership (GGP) and &Green have signed a Statement of Intent to provide a framework for their collaboration in jointly working towards their shared vision of removing deforestation from commodity supply chains. Through mutual support, the partners will seek to improve the results of their respective efforts in making financing available, engaging stakeholders, supporting tropical forest countries and creating learnings for wider application and scaling.

Working across production, financing and demand, the GGP convenes a wide range of stakeholders and initiatives to reduce deforestation and enable sustainable development in the global commodity supply chains of soy, beef and palm oil.

Launched at the United Nations New York headquarters in 2017, the GGP is funded by the Global Environment Facility (GEF), led by the United Nations Development Programme and implemented in collaboration with Conservation International, the International Finance Corporation (IFC), UN Environment Programme (UNEP) and World Wildlife Fund (WWF).

In partnership with the governments of Brazil, Indonesia, Liberia and Paraguay, as well as civil society and major private sector players, the GGP aims to place sustainability at the heart of commodity supply chains.

20×20 Initiative

The objective of the 20×20 Initiative is to contribute to a change in the dynamics of land degradation in Latin America and the Caribbean (LAC). In the short term, the Initiative intends to assist the restoration process of 20 million hectares of degraded land by 2020, including 5 million hectares of avoided degradation. This effort is in support of global land-restoration efforts of the Bonn Challenge. The initiative was launched by eight countries and five investment groups at COP 20 in Lima in December 2014.

AFR100

AFR100 is the African Forest Landscape Restoration Initiative, which is a country-led effort to bring 100 million hectares of land in Africa into restoration by 2030. It aims to accelerate restoration in order to enhance food security, increase climate change resilience and mitigation, and combat rural poverty.

IFACC

Launched at COP26, the Innovative Finance for the Amazon, Cerrado and Chaco (IFACC) is an initiative of the Nature Conservancy (TNC), Tropical Forest Alliance (TFA) and UN Environmental Programme (UNEP). By signing the IFACC Commitment Agreement, &Green aims to expand and accelerate lending and investment in climate-friendly beef and soy production models, without further negatively impacting the Brazilian Amazon and Cerrado, and the Argentinean and Paraguayan Chaco biomes.

Forest Investor Club

At COP26 during the World Leaders Summit’s Forest Day session on November 2, 2021, the United States launched the Forest Investor Club with the aim to unlock and scale up investments that support sustainable, climate-aligned outcomes in the land sector. By joining this partnership, SAIL Ventures committed to increasing the scale and geographic scope of investment in restoration, conservation, sustainable agriculture and forestry, and green infrastructure.