• BNPP AM Alts leads Series A investment into Rainforest Builder, targeting large-scale forest restoration in West Africa
• Financing supports Project Colobus in Ghana, aiming to generate high-quality carbon removal credits and local jobs
• Deal aligns capital with biodiversity protection and climate mitigation under UN SDGs 13 and 15

Institutional Capital Targets Natural Climate Solutions in West Africa

BNP Paribas Asset Management Alts has led a Series A investment into Rainforest Builder UK Ltd, a developer focused on tropical forest restoration across West Africa, marking a significant push to channel institutional capital into nature-based carbon removal.

The investment, executed through BNPP AM Alts’ Natural Capital and Impact strategy, is paired with dedicated project financing for Project Colobus in eastern Ghana. The initiative spans degraded land in the Oti and Volta Regions within the Upper Guinean Forest, one of the world’s most critical biodiversity hotspots.

The transaction reflects a broader shift among global asset managers to treat ecosystems as investable infrastructure, particularly as demand for high-integrity carbon credits accelerates.

Building a “Seed-to-Forest” Restoration Model

Rainforest Builder operates a vertically integrated model that controls the full restoration lifecycle, from seed collection and storage to nursery cultivation and long-term forest management. Native species are planted across degraded land, with ecological data integrated into a proprietary operating system designed to track outcomes and improve restoration performance.

Project Colobus combines environmental and economic objectives. Alongside reforestation, the company works with local farmers to improve agricultural productivity through training and inputs, aiming to reduce pressure on surrounding forests. Portions of the restored land will also support sustainable timber production, creating long-term income streams.

Job creation is central to the model, positioning restoration not only as a climate intervention but as a rural development strategy.

Carbon Markets and Financing Strategy

The financing is structured to enable the generation of high-quality carbon removal credits, a segment of the voluntary carbon market that is gaining traction among corporates seeking durable offsets. Forest restoration projects, when executed at scale and with scientific rigor, are increasingly viewed as a key supply source for these credits.

For BNPP AM Alts, the investment extends its exposure to natural capital as an asset class, linking environmental outcomes with long-term financial returns. The firm manages approximately €300 billion across real estate, infrastructure, private equity, and alternative credit, following the consolidation of AXA Investment Managers’ alternatives platform.

Alexandre Martin-Min, Head of Natural Capital & Impact Investments at BNP Paribas Asset Management Alts, said: “West Africa is a region with significant opportunity for natural climate solutions, but reforestation efforts are currently underfunded. We chose to support Rainforest Builder in their mission given the team’s deep operational and scientific expertise in the region and their innovative approach to reforestation. Their approach balances ecological restoration with social and economic benefits, and we believe their projects have the potential to deliver significant biodiversity benefits, jobs and wider benefits to local communities.”

RELATED ARTICLE: BNP Paribas Asset Management Halts Investments in New Oil and Gas Bonds

Scaling Restoration Across the Region

Rainforest Builder currently operates four projects across Ghana, Sierra Leone, and Guinea, and the new capital is expected to accelerate expansion across both existing and new markets. The company’s approach positions tropical forests as productive assets capable of delivering climate, biodiversity, and economic returns simultaneously.

Ed Stephenson, Co-CEO of Rainforest Builder, said: “We are thrilled to welcome BNPP AM Alts as an investor in Rainforest Builder and Project Colobus. Bringing institutional capital at this scale to ecosystem restoration in West Africa is a pivotal development for our company and the whole sector, demonstrating the value of tropical forests as natural infrastructure. Rainforest Builder’s four projects in Ghana, Sierra Leone, and Guinea have established both operational and commercial traction, and with this investment, we believe we are well positioned for continued growth in existing and new markets.”

What This Means for Investors and Policymakers

The deal highlights the growing convergence between climate finance, biodiversity protection, and development policy. Governments and multilateral frameworks have long identified forest restoration as essential to meeting global climate targets, yet funding gaps persist, particularly in emerging markets.

By pairing equity investment with project-level financing, BNPP AM Alts is testing a model that could unlock larger pools of private capital for nature-based solutions. For corporate buyers of carbon credits, the emphasis on quality, traceability, and community integration addresses rising scrutiny over offset integrity.

At a global level, the investment reinforces the role of natural capital in institutional portfolios and signals increasing confidence in restoration-linked carbon markets. As climate targets tighten and biodiversity loss climbs the policy agenda, scalable, finance-backed ecosystem restoration is moving from niche to necessity.

Follow ESG News on LinkedIn