Stockholm, 18 April 2024 – Klarna, the AI-powered global payments network and shopping assistant, and Milkywire, an environmental impact platform, have launched a new fund to open to tech and finance companies which want to invest directly in impactful projects to contribute to global biodiversity targets but don’t know where to start.
Building on the success of their combined work supporting biodiversity, people, and climate projects over the past 3 years, Klarna and Milkywire will now open up the Nature Transformation Fund to all companies looking to support transformative environmental change and contribute to Global Biodiversity Targets. The fund offers companies a simple way to invest directly in on-the-ground projects without the overhead of learning how to do so effectively.
Over the past three years, Klarna has paid out $13.6 million and supported 53 environmental initiatives, contributing to several of the UN’s Sustainable Development Goals, including climate action, life below water, and life on land. The projects we have supported have achieved some impressive results:
- 4,9 Million saplings of native trees have been planted.
- 700,000 hectares of forest in the upper Amazon now have enhanced protection against illegal extraction.
- 195 hectares of wildflower-rich grassland and habitats have been created across the UK, benefiting bees, butterflies, moths, flies, hoverflies, beetles, wasps, ants as well as a range of other wildlife.
- The 70 remaining Javan Rhinos left in the world have been protected from extinction thanks to anti-poaching operations.
- 3 new protected marine areas have been created in the UK.
The Nature Transformation Fund will be managed by Milkywire, and Klarna will remain as a founding partner, committed to its 24.5M USD pledge for the planet since 2021. Klarna will continue to allocate this pledge to impactful initiatives just like before.
Alexander Farsan, Klarna’s Head of Climate and Environment, commented: “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.”
Jill Raval, Milkywire’s Nature Transformation Fund Manager 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.”
Milkywire and Klarna will be hosting an invite only digital dialogue to share best practices and engage with like-minded companies. Sign up for access, as we explore innovative ways to contribute to the planet’s health and biodiversity.
*This includes contributions to the Climate Transformation Fund as well as donation related transaction and management costs.
