Ecobank Group has launched the world’s first ICMA commercial bank-issued Nature Bond on the London Stock Exchange, creating a new route for international and African capital to protect Africa’s biodiversity. Moody’s awarded the transaction its highest possible sustainability quality score, SQS1 Excellent. The bond will support African farmers, sustainable agriculture businesses and water systems, protecting some of the planet’s most important ecosystems.
Africa is home to some of the world’s most important natural capital, including arable land, tropical forests, freshwater systems and biodiversity across hundreds of millions of hectares. But, until now, private nature capital has not flowed to Africa at the scale the continent’s ecological significance warrants in global ecological resilience. Despite hosting 25% of global biodiversity, Africa receives less than 3% of nature finance
Ecobank’s Nature Bond is a direct response to this gap. It will support smallholder farmers adopting sustainable agricultural practices, agri-processors with verified deforestation-free supply chains, and water infrastructure protecting freshwater ecosystems relied upon by millions of people. Unlike many conservation-focused financing vehicles, Ecobank’s Nature Bond channels capital directly through Africa’s real economy — financing businesses and communities whose day-to-day activities shape environmental outcomes at scale.
The investments will be made in 24 markets, with significant deployment in biodiversity-priority countries such as Côte d’Ivoire, Burkina Faso and Ghana. Importantly, 81% of the eligible lending pool is allocated to countries where agricultural land-use change is the primary driver of biodiversity loss, helping direct capital to the areas where it can have the greatest environmental impact.
The framework also incorporates independent monitoring and verification mechanisms, including deforestation screening and supply chain traceability requirements, helping ensure that financed activities deliver measurable nature-positive outcomes. Every eligible loan carries seven independently verified sustainability conditions.
The launch of this bond also comes as governments and investors worldwide face mounting pressure to mobilise private capital for biodiversity protection and sustainable land use.
A Nature Bond, under the ICMA secondary designation, requires proceeds to actively contribute to nature-positive outcomes, including transforming economic activities to reduce the drivers of nature loss at scale.
The Nature Bond was designed to reach those that conservation-focused instruments were not designed to serve – farmers, agri-processors and water operators whose daily activities collectively determine ecosystem outcomes.
Rachael Antwi, Group Head of Sustainability and ESRM, Ecobank Transnational Incorporated, added: “Nature finance will only scale in Africa if it is practical, measurable and connected to the real economy. This bond is designed to do that by linking international capital to eligible lending for sustainable agriculture and water infrastructure across 24 countries. It reflects the systems and standards Ecobank has built to ensure nature finance supports both environmental resilience and the communities whose livelihoods depend on healthy ecosystems.”
