The How: Financing Nature Through Capital Markets
26 October 2026

Armenia

The session explored how capital markets could direct private finance toward nature, with a focus on advancing Target 19 (Financial Resources) of the Kunming-Montreal Global Biodiversity Framework. Participants were introduced to use-of-proceeds bonds and sustainability-linked bonds and learned how to apply key nature finance guidance, including IFC’s Biodiversity Finance Reference Guide, the MDB Common Nature Finance Taxonomy, and ICMA’s Sustainable Bonds for Nature: A Practitioner’s Guide. A panel discussion presented real-world examples of nature bonds, shared practical lessons for wider adoption, and explored opportunities to scale these instruments across geographic and institutional contexts.

Program and Learning Materials
Session / Activity Title Speaker(s)
Opening Opening Remarks Guangzhe Chen, Vice President of Planet, World Bank Group
Presentation Technical Presentation Irina Likhachova, Global Nature Finance Lead, World Bank Group
Panel Discussion Panel discussion introducing real world examples of nature bonds, hear practical lessons for wider adoption, and explore how they can be scaled across geographic and institutional contexts Moderator: Valerie Hickey, Director of Environment, World Bank Group

Speakers:
• Lilit Gaboyan, CFO, Evocabank
• Alban de Faÿ, Fixed Income Chief Responsible Investment Officer, Amundi
• Giordano Automare, Executive Sustainability Manager, Suzano
• Peter Walker, Nature Programme Manager, Investor Strategies, Institutional Investors Group on Climate Change (IIGCC)

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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