Klarna, an AI-powered global payments network and shopping assistant, and Milkywire, an environmental impact platform, have launched the Nature Transformation Fund.
This initiative is now accessible to technology and finance companies eager to engage in impactful environmental projects aimed at achieving global biodiversity targets.
The partnership between Klarna and Milkywire is built on a shared commitment to enhancing global biodiversity. Recognizing the complexities of environmental investments, the Nature Transformation Fund aims to provide a straightforward avenue for companies to contribute directly to transformative projects. This collaboration leverages both organizations’ expertise and resources to facilitate broader corporate involvement in vital biodiversity initiatives.
Klarna has established itself as a leader in FinTech, offering comprehensive payment solutions and shopping services that integrate artificial intelligence to enhance consumer and merchant experiences. Over the past three years, Klarna has committed substantial resources, including a $13.6m pledge, towards environmental projects that support biodiversity and align with the UN’s Sustainable Development Goals.
Its investments have supported a number of initiatives. Significant achievements include the planting of 4.9 million native saplings, enhancement of 700,000 hectares of Amazon forest protection, and the creation of 195 hectares of wildflower-rich grasslands in the UK. These initiatives have been crucial in protecting endangered species like the Javan Rhino and supporting new marine protected areas in the UK.
Milkywire operates as an impactful platform focusing on environmental conservation. It manages the Nature Transformation Fund and collaborates with experts to ensure the selection of effective projects. Milkywire’s approach spans practical restoration efforts to advocacy, aiming to create sustainable change and address global environmental challenges holistically.
Klarna head of climate and environment Alexander Farsan said, “Our global economy is embedded in nature, so all companies must help close the biodiversity funding gap. We have spent three years investing directly in on-the-ground projects and building extensive knowledge in how to select and manage projects for maximum return on investment. With this new fund we are making this expertise available to all tech and finance companies looking for a ‘plug-and-play’ route to investing directly in on-the-ground biodiversity projects.”
Milkywire Nature Transformation Fund manager Jill Raval adds, “Tackling biodiversity comes with a myriad of complexities and picking the right projects is extremely important to ensure that both the people and the planet win. At Milkywire, we collaborate with leading experts to drive long-term change. Our fund approach allows companies to address global biodiversity challenges in a holistic way, ranging from hands-on restoration to advocacy. With the launch of the Nature Transformation Fund, we are looking forward to amplifying our impact through collective action.”
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