The latest developments in the ESG space.

UBS Optimus Foundation, SwissRe Foundation, Terratai
Terratai, the Bali-based investor in “nature-based” firms, has partnered with the UBS Optimus Foundation and Swiss Re Foundation. The pact is backed by initial funding of more than $2 million to launch programmes in Indonesia. 

In time, the partnership could expand across Southeast Asia.

The development will focus on building and scaling Terratai’s first cohort of early-stage businesses that can demonstrate quantifiable impact on nature and biodiversity, UBS said in a statement yesterday.

Tests of performance include cutting fossil fuel emissions and protecting habitats, among others.

"The partnership between Terratai, UBS Optimus Foundation and Swiss Re Foundation demonstrates a collective commitment to rethink the way capital can be deployed towards nature-based solutions (NBS) and is a vital step in closing the global $800 billion finance gap needed to protect and restore nature annually," Matt Leggett, CEO and founder of Terrata, said.

Maya Ziswiler, CEO UBS Optimus Foundation, added: “Indonesia is on the frontline in the global fight against climate change. More than half of its land mass is covered by forest, and it is critical to conserve its natural capital with the help of nature-based solutions. We believe in the power of partnerships to deliver innovative, scalable solutions. Our new partnership with Terratai to protect biodiversity and the livelihoods of local communities in Indonesia, and over time across South-East Asia, is a perfect example of how we at UBS Optimus Foundation incubate impact ventures, make them investable and scalable, while ensuring that they achieve positive outcomes for climate, biodiversity and local communities.”