Whitepaper
Demand for nature restoration is in place. What is missing is the equity that gets projects built. Here is how philanthropy can fill that gap.
In September 2026, Terra Natural Capital convened foundations, development finance institutions, investors, and developers at Climate Week NYC. The question: if one year of forest philanthropy were deployed differently, how much more land could be restored?
25%
The equity layer that restoration project finance depends on, and that is largely missing today
<1%
Share of US foundation assets deployed as program-related investments
13x
Estimated uplift in restoration from the same philanthropic capital, deployed through a pooled guarantee
What’s inside
- Why demand is no longer the constraint
- The missing equity layer, and why developers cannot fill it alone
- How guarantees let the same dollar do more work
- Three steps for philanthropic capital: close the equity gap, pool the risk, and act collectively
- Where the room agreed, and the questions still to solve
What happens next
“The question is not whether foundations should deploy more capital for nature. It is whether the capital they already deploy can do more.”
Erin Leitheiser, Strategic Partnerships Director, Terra Natural Capital
Help close the equity gap
We are inviting foundations, development finance institutions, investors, and developers to shape the pooled guarantee with us. Tell us a little about your organization and we will be in touch.
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Figures are Terra estimates and are provisional. See the whitepaper for assumptions and sources.