Gide has worked with Mirova on launching the "Orange Nature" fund, dedicated to investing in assets that respect the environment and that aim to support pro-climate and pro-biodiversity projects, and the preservation of natural spaces, in particular forests and oceans.
The fund, whose target size is EUR 50 million, will invest directly or indirectly in various carbon sequestration projects around the world: afforestation, reforestation, and restoration of natural ecosystems (mangroves or agroforestry projects). Specific attention will be paid to the economic and social development of the regions and populations affected by the projects, as well as the positive impacts they have on biodiversity.
The returns from the Orange Nature fund will be in the form of high-quality carbon credits only. This project is part of Orange's commitment to become Net Zero Carbon by 2040.
Orange Nature will have a co-investment agreement with the Nature+ Accelerator Fund, a Luxembourg-based investment fund managed by Mirova and launched at the initiative of the International Union for Conservation of Nature (IUCN), to roll out a part of its investment strategy.
Gide's team assisting Mirova on fund structuring aspects was headed by partner Stéphane Puel, working with senior associate Clothilde Beau and junior associate Olivia Le Goff. Partner Laurent Modave and associate Vincent Michaux also acted on several aspects of tax structuring.