The How: Financing Nature Through Capital Markets
26 October 2026

Armenia

This session explores how capital markets can direct private finance to nature, with a focus on action towards Target 19 Financial Resources of the Kunming-Montreal Global Biodiversity Framework. Participants will be introduced to two key instruments, use of proceeds bonds and sustainability-linked bonds, and gain insight into development of nature finance market guidance, including IFC's Biodiversity Finance Reference Guide, the MDB Common Nature Finance Taxonomy, and the International Capital Market Association's (ICMA) Bonds for Nature: A Practitioner's Guide.

A financial institution will then present a real-world nature bond case study, sharing the mechanics behind the issuance, lessons learned, and enabling stakeholder support. The session will conclude with an interactive discussion exploring how nature bonds can serve as a scalable solution across diverse geographic and institutional contexts.

Program and Learning Materials
Session / Activity Title Speaker(s)
Presentations Overview: Nature Finance, Nature Finance Market Guidance, and Nature Bonds Irina Likhachova
Presentations Nature Bond Case Study TBC
Discussion Interactive Discussion with Financial Institution Discussant: ICMA (member the secretariat or Executive Committee), TBC

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Event Coordinator/s

  • Ana Maria Gonzalez Velosa
  • Irina Likhachova
  • Beatrice Phillips
  • Duncan Lang
  • Pailyn Tan

ADB Organizer/s

  • Climate Change and Sustainable Development
  • Climate Change, Nature, and Environment Division

Partner Organization/s

Topics

  • Environment
  • Finance