It’s been an interesting few months for the CFA. In May we ran our second Finance 4Nature course at the Conservation International HQ near Washington DC - it was amazing engaging with the participants and we look forward to additional training programs in the future - including providing an online version this year. The 16 CFA Incubator projects are deep into their incubation – some teams got to meet each other and Incubator Manager Stephanie O’Donnell in person at London Climate Action Week. CFA ED David Meyers has been contributing to global warming while fundraising for the Coral Triangle Conservation Fund, presenting on public finance for marine protected and conserved areas with parliamentarians for the ICCF as part of the Our Oceans Conference, in Mombasa, and provided guidance on sustainable finance for protected areas for the IUCN WCPA on behalf of its Sustainable Finance Specialist Group in Chengdu, China, for the World Bank / GEF Global Wildlife Program. Most importantly, the CFA is thrilled to be kicking off a program in the Philippines to bring finance into the marine 30x30 programs across all management levels – working with diverse partners from the government, civil society and academia. This program is being supported by Bloomberg Ocean and Oceans 5.
A few thoughts from all this engagement. First, I am constantly reminded about how nature provides us with such immeasurable value while we seem to have to fight for every dollar to go towards conservation. Secondly, I keep seeing growing interest and excitement around private return-based opportunities in nature finance (see below for the recent State of Private Investment in Nature) but upon deeper examination, most of that funding is only marginally going towards actual nature conservation - most is supporting sustainable agriculture, forestry, etc. where reducing harm to nature is success (and greatly needed). And finally, I come back to the absolutely essential role of government (and governance) to set the rules of nature use and management with critical tools such as policy, taxes, regulations, and enforcement. Let’s move conservation finance from the margins of the markets to the core issue it should be and take concrete actions for a healthy, abundant and biodiverse future. I have an idea…
Please reach out if you have interest in these topics or interest in funding the Coral Triangle Conservation Fund or the CFA Incubator.
Keep Swimming Upstream!
David Meyers
Executive Director david@cfalliance.org
News and Information
🎧 Listen to the New 4Nature Podcast Episode with Rony Brodsky of TNC
In the new episode of the 4Nature Podcast, "Scaling Finance from Grassroots", discover how community-led conservation finance empowers local stewards. Rony Brodsky reveals how village savings and land tenure unlock green economies. Listeners will discover how leveraging domestic financial systems and community-led structures can transform global conservation efforts from the bottom up.
In May, the Conservation Finance Alliance (CFA) and Conservation Strategy Fund (CSF) delivered two successful training programs designed to strengthen the capacity of conservation professionals to leverage conservation finance.
The second edition of Finance 4Nature brought together 28 participants from 18 organizations for four days of intensive learning in the Washington, D.C. area, covering topics such as protected and conserved area finance, blended finance, conservation trust funds, conservation enterprises, public finance, and nature investing.
Finance 4Nature Course (Second edition)
The CFA and CSF also delivered a tailored Finance 4Nature short course for WWF-US staff, providing members of the Forest and Water Team with practical tools and insights on sustainable finance mechanisms for conservation. Through these trainings, participants explored real-world finance solutions and joined a growing community of practice committed to advancing conservation outcomes through effective finance tools.
Stay tuned for upcoming training opportunities and future editions of Finance 4Nature. 🌿
Register Now for Conservation Strategy Fund and CFA’s Flagship Annual Online Course
For more than 28 years, our partner, Conservation Strategy Fund (CSF) has been equipping conservation professionals with the economic and financial tools needed to influence decisions for nature and people.
The 2026 edition of Economics & Finance for Environmental Leadership will bring together participants from around the world in a dynamic virtual learning experience covering environmental economics and policy, ecosystem service valuation, cost-benefit analysis, behavioral economics, and finance solutions for conservation.
Designed for practitioners at all levels. Anyone is eligible to register, and no background in economics or finance is necessary. Participants will gain practical skills to better communicate with decision-makers, evaluate conservation investments, and transform their work.
🌿 Be one of the first 5 people to register and gain access to our 20% Early Bird Discount - offer lasts until July 8.
👉 Register for free by July 31 and learn moreHERE.
The CFA Incubator Program is Going Strong
With 3 months completed of the 4th round of the CFA Incubator, the 16 teams are well underway in refining their strategies and business plans. Many thanks to our great partners, mentors, experts, and coaches.
Common Themes Across Projects and their Progress
Focus broad ideas into minimum viable products.
Testing assumptions through customer discovery and stakeholder interviews.
Exploring philanthropic versus investor-focused funding.
Developing stronger investment cases.
Learning from one another's finance mechanisms, especially around endowments, blended finance, nature credits, and outcome-based finance.
Shared Cohort Learning
Many teams asked the cohort for advice on similar issues, including:
Making conservation finance attractive to corporations, resorts and tourism sector partners.
Identifying outcome buyers.
Managing demand risk in new environmental markets.
Designing sustainable endowment structures.
Structuring blended finance vehicles.
Stay tuned for upcoming announcements on this cohort! The CFA Incubator is financed by Milkywire's Nature Transformation Fund with support from Klarna.
Ecosystem profile update for the Madagascar and the Indian Ocean Islands biodiversity hotspot launched
The Conservation Finance Alliance (CFA) is pleased to contribute to the development of a new long-term vision for the Madagascar and Indian Ocean Islands Biodiversity Hotspot, in partnership with Natural Capital Insights, Seascape Solutions, and MSIS Tatao, with support from the Critical Ecosystem Partnership Fund (CEPF).
This initiative will update the ecosystem profile and engage stakeholders across the region—including governments, civil society, donors, and the private sector—to help shape future conservation priorities and investment strategies. By bringing together diverse perspectives and expertise, this process aims to strengthen the foundations for lasting biodiversity conservation and climate resilience in one of the world's most unique and vulnerable regions.
With Julia Queiroz, Heitor Dellasta, and Leonardo Bakker, we will discuss current challenges and opportunities at the intersection of conservation, economics, and finance. The session will highlight applied case studies from Latin America, including three projects from CSF analyzing financial solutions for restoration, conservation, and sustainable management in the Amazon, all while reflecting on broader lessons and opportunities for Brazil and beyond.
📅 July 9, 2026 🕛 10:00am - 11:00pm Eastern Time (GMT-4) 🌎 Live translation to Portuguese, Spanish, and more
Beartooth Group is hiring - Director of Fundraising and Investor Relations
Beartooth Groupis a conservation-driven private investment firm working to save the Greater Yellowstone Ecosystem — one of the most important wild places on the planet. We are looking for a partner in this work - someone who will lead our fundraising and investor relations function, raise capital, scale our impact, and expand the community of people who fund what we do.
The Director of Fundraising and Investor Relations will lead fundraising for current and future investment vehicles, including funds, co-investments, and custom mandates. Specifically, they will:
Translate the firm’s impact and financial performance into compelling narratives.
Oversee the creation of pitch decks, PPMs, quarterly reports, impact reports, and more.
Generate a pipeline of investor prospects.
Pitch prospective investors.
Cultivate and manage relationships with new and existing limited partners, ensuring a best-in-class investor experience.
Participate in development of firm strategy, fund structuring, and investment selection.
Flagship Report: Gaining Ground: State of Private Investment in Nature 2026
The new report, Gaining Ground: State of Private Investment in Nature, from Ecosystem Marketplace and The Nature Conservancy, examines the evolution of private investment in nature over the past decade and builds on the landmark 2016 report on the topic. They note that private investment in nature has grown 5x since 2016!
Now Available: Business and Biodiversity Assessmet
The laid-out version of the IPBES Summary for Policymakers is now available in English, offering science-based insights on the impacts & dependencies of business on biodiversity and nature’s contributions to people.
New Analysis: Voluntary Biodiversity Credit Markets Report 2026
This report provides practical insights for all stakeholders engaged in voluntary biodiversity credit markets. It is based on a survey of 52 market actors, including project developers, scheme and standard administrators, marketplaces, platforms, investors and other stakeholders, complemented by Bloomlabs market intelligence and transaction analysis.
Grey literature: Improving Outcome-Based Effectiveness Assessments of Protected and Conserved Areas
Protected and Conserved Areas (PCAs) are one of the most important tools we have for conserving biodiversity. But how do we know if they are actually working?
Many existing assessment tools focus on whether protected areas have the right plans, governance structures and management systems in place. What they often don't measure is whether these efforts are leading to real conservation outcomes on the ground. A new IUCN-WCPA report explores how to bridge this gap, helping protected area managers and assessment tool developers better connect management actions with measurable results for nature.
Report: Business Models and Investments for Nature
The report highlights how innovative financing models are emerging to support sustainable land use, ecosystem restoration and biodiversity protection, in line with the Kunming‑Montreal Global Biodiversity Framework (GBF). While public funding remains essential, the cases featured illustrate how private capital can complement it by delivering measurable environmental outcomes alongside financial returns.
This second edition introduces four new practices selected for their materiality, impact and contribution to the GBF goals and targets: the ASR Dutch Farmland Fund, BNP Paribas Environmental Solutions Fund, SLM Silva Fund and Triodos Bank’s Wyre River Natural Flood Management Project.
🔽 Download the full report or or consult the summary for a concise overview HERE.
TNC New Publication - Case study: Ecuador’s Biocorredor Amazónico Program
Relying on a debt conversions model, the transaction combines innovative debt refinancing mechanisms with DFI‑ and MDB‑backed credit enhancement and capital markets. Conservation commitments were co‑developed with the government in alignment with national strategies, directing capital into long‑term conservation financing that advances nationally defined biodiversity, climate resilience, and community well‑being goals at scale, while also improving debt sustainability.
