June 09, 2016 (London, UK) – "The Nature Conservancy and our impact investing unit, NatureVest, are honored to receive the 2016 FT/IFC Transformational Business Award for Achievement in Transformational Finance. I'm delighted NatureVest and its founding sponsor and strategic advisor, JPMorgan Chase & Co., have been recognized among distinguished peers who are all working hard to transform developing economies through innovative financing.
"NatureVest’s recent transaction restructuring the Republic of Seychelles’ sovereign debt marks the first time a debt conversion deal has included private impact investment. The deal demonstrates that this financial mechanism is not only feasible but could be replicated by other developing island states. Another important aspect of this debt restructuring is the fact that a significant amount of the funding will go toward conservation. Seychelles' marine protected areas will increase by a factor of 30, and a trust will fund marine conservation and climate change adaptation solutions such as coral reefs and mangroves. These conservation measures will go a long way toward protecting the island's fishing and tourism economy, which is threatened by rising sea levels and more frequent storms."
– Mark R. Tercek, President and CEO of The Nature Conservancy
“We are incredibly proud to partner with The Nature Conservancy. This award reaffirms that together we are building something valuable and transformational. With NatureVest, we are bringing the broad-based capabilities of our firm together with the Conservancy to transform the way we help communities address critical environmental concerns.”
- Doug Petno, CEO of Commercial Banking at JPMorgan Chase & Co.
This groundbreaking debt restructuring was enabled through more than $5 million in private philanthropy from The Nature Conservancy’s China Global Conservation Fund, the Jeremy and Hannelore Grantham Environmental Trust, the Leonardo DiCaprio Foundation, Lyda Hill, the Oak Foundation, Oceans 5, the Turnbull Burnstein Family Charitable Fund and the Waitt Foundation.
The Nature Conservancy launched its impact capital strategy in 2010 with support from the Robertson Foundation that continues today, and built a global network with subsequent support from the Jeremy and Hannelore Grantham Environmental Trust. In early 2014, with founding sponsorship from JPMorgan Chase & Co., NatureVest was launched as a concerted effort to change the way we invest in nature. Visit NatureVest on the Web at www.naturevesttnc.org.