Nature Transformation Fund
Support pioneering initiatives around the world benefiting people and biodiversity
Financing nature-positive action
The Nature Transformation Fund (NTF) is a curated portfolio aimed at driving significant environmental change and meeting Global Biodiversity Targets. Supported by leading experts and built on a comprehensive impact-first framework, the NTF is dedicated to creating tangible benefits for the planet.
Our projects cover key areas such as policy advocacy and legal representation for indigenous communities, forest protection and restoration, marine ecosystem conservation, and conservation finance. The NTF strategically supports projects under three essential pillars, balancing immediate needs with long-term goals:
Ecosystem health
Policy & accountability
Innovative finance
Ecosystem Health
Policy & Accountability
Innovative Finance
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Nature Transformation Fund pillars
The Nature Transformation Fund encompasses a wide array of projects, each addressing different themes and approaches. We focus on three main pillars, which support the fund's overall framework. Within each pillar, various projects pursue similar goals through different methods.
Ecosystem Health
Projects in this pillar support the protection and restoration of freshwater, land, and ocean realms, crucial for meeting the '30x30' targets of the Kunming-Montreal Global Biodiversity Framework. This ambitious goal seeks to effectively protect and manage 30% of the world’s terrestrial, inland water, and coastal and marine areas by 2030. Achieving this is vital as currently, only about 17% of land and 8% of marine areas are under some form of protection. These efforts are essential to address the intertwined crises of biodiversity loss and climate change, ensuring the survival of natural systems that protect human well-being and support all life on Earth.
The Atelopus Survival Initiative (ASI) unites over 40 organizations from 13 countries to protect harlequin toads, one of the most endangered groups of amphibians. This project strengthens the ASI’s coordination by funding a dedicated role to facilitate collaboration, mobilize resources, and implement conservation strategies. Additionally, field efforts targeting three critically threatened species will improve knowledge, mitigate threats, and implement site-based conservation actions to prevent further declines.
Policy & Accountability
Projects in this pillar emphasize the role of local communities as part of the solution through championing science-backed policies, strategic litigation, and strong accountability mechanisms. Recognizing that the insights and experiences from affected communities are invaluable in crafting effective and just policies that not only protect the environment but also pave the way for a socially just transition.
ICCI works to elevate the global urgency of ice loss and its impact on climate stability. The project engages governments, scientists, and policymakers to integrate cryosphere science into international climate negotiations. By expanding advocacy efforts and strengthening coalitions, the initiative ensures that melting ice remains a priority in global climate policy.
Innovative Finance
Innovative finance focuses on developing financial strategies to sustainably manage and preserve natural resources. It seeks to secure continuous funding and unlock extra resources for long-term environmental stewardship. Mechanisms like conservation finance and blended finance, harness economic incentives to support conservation efforts and generate financial benefits. Additionally, they encourage community participation and ownership.
Earth Acre, in partnership with East Africa Carbon and Biodiversity Limited, is accelerating the creation of carbon and biodiversity credits on community-managed lands in Kenya. However, carbon and biodiversity credit development is a lengthy process, and to bridge this gap, the project provides direct cash transfers to landowners and uses a technology platform to manage nature-based revenue streams. This initiative helps sustain community engagement, expand sustainable land management, and protect critical ecosystems in the region, especially by restoring historic migratory corridors.
Ecosystem Health
Vietnam
The Annamite Mountains in Vietnam are home to many rare and endangered species, yet habitat destruction and illegal hunting threaten their survival. This project supports a conservation breeding center at Bach Ma National Park, ensuring that species such as the saola, Annamite striped rabbit, and Bourret’s box turtle have a viable future. By maintaining expert oversight, veterinary care, and breeding programs, the initiative lays the groundwork for future reintroductions and long-term species recovery.
Policy & Accountability
Kenya + 2 countries
Natural Justice is working to protect Indigenous rights and traditional knowledge across South Africa, Kenya, and Senegal. The initiative focuses on legal advocacy, capacity-building, and integrating Indigenous knowledge into environmental policies. Through partnerships and global advocacy, the project ensures that Indigenous communities have a voice in environmental governance.
Innovative Finance
United States
The Conservation Finance Alliance (CFA) incubator aims to identify, incubate and enhance conservation finance solutions and tools to drive greater impact. Over the course of one year, it will support 5-10 groundbreaking projects selected through a global call for proposals by providing grants, mentorship, and development opportunities. By nurturing these concepts, the program aims to unlock additional funding and scale impactful conservation initiatives worldwide.
Key drivers of quality
We collaborate with a broad network of experts and maintain a robust portfolio management system to ensure high quality and scientific rigor. The NTF is overseen by two main portfolio managers who work closely with an external advisory group.
Jill Raval is a sustainability expert specializing in marine and freshwater ecosystem conservation and sustainable finance. Her career has been marked by significant roles at the World Resources Institute (WRI) and the United Nations Environment Programme (UNEP), where she led over ten projects to approval by the Global Environment Facility (GEF). Jill’s contributions include prominent initiatives in conservation finance, freshwater and marine governance, blue economy and wastewater management. She has actively worked with NGOs, CSOs, and intergovernmental agencies to advance sustainability practices. A graduate of the Stockholm Resilience Center, Jill’s research there provided deeper insights into the blue economy and the financial sector's role in sustainable practices. Currently, she works as our Senior Impact & Partnership Manager, managing some of Milkywire's nature related funds.
Jill Raval
Milkywire Nature Lead
Susan Chomba
Director of Vital Landscapes at the World Resources Institute Africa
Alexandre Antonelli
Professor in Biodiversity, Head of Science at Kew Gardens in London
Carl Gustaf Lundin
Former Head of the Marine and Polar Program at IUCN, prev. CEO of Mission Blue
Financing and accelerating nature positive actions post-COP16 and COP29
Milkywire welcomes new projects to the Nature Transformation Fund and introduces the Innovative Finance pillar
Financing Nature Restoration: Addressing the Ambition Gap with an Internal Nature Fee
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