Section one: Contracting authority
one.1) Name and addresses
Defra
Foss House
York
YO1 7AB
Contact
Jackie Hurley
Telephone
+44 2072385921
Country
United Kingdom
NUTS code
UKE - Yorkshire and the Humber
Internet address(es)
Main address
https://www.gov.uk/government/organisations/department-for-environment-food-rural-affairs
Buyer's address
https://defra.bravosolution.co.uk/web/login.html
one.3) Communication
Additional information can be obtained from the above-mentioned address
one.4) Type of the contracting authority
Ministry or any other national or federal authority
one.5) Main activity
Environment
Section two: Object
two.1) Scope of the procurement
two.1.1) Title
Early Engagement for Defra's Big Nature Impact Fund
Reference number
project_33303
two.1.2) Main CPV code
- 66000000 - Financial and insurance services
two.1.3) Type of contract
Services
two.1.4) Short description
The purpose of this notice is to gather market feedback on Defra's proposal as set out below:
- Defra is proposing to launch a Big Nature Impact Fund through appointment of a Fund Manager, which will be charged with two core responsibilities: capital raising and fund deployment. More specifically, this will focus on the twin tasks of leveraging private finance into, and accelerating the development of, new ecosystem service markets.
- This Fund will be structured as a public-private, blended finance vehicle. Defra intends that public investment in the Fund will incentivise and de-risk private investment into the Fund. The Fund will invest in a portfolio of projects that generate revenue from nature-based solutions providing ecosystem services (e.g. benefits from natural services including, for example, flood mitigation and water quality improvements from tree planting or carbon sequestration from restoring peat bogs). This model is being proposed following government's successful use of public-private blended impact models in other areas, including climate finance, social finance and international biodiversity.
- Defra propose that the Fund should target investment into nature-based solutions with the greatest climate change mitigation potential and high potential to generate revenue from ecosystem services. We anticipate these to be primarily tree planting and peatland restoration, however, the scope of potential investments by the Fund will also include a wider range of habitats, biodiversity and nature-based solutions. Investments should support delivery of 25 Year Environment Plan targets.
- The Fund will be able to use the Natural Environment Investment Readiness Fund (NEIRF) as a potential project pipeline, supporting investment ready projects to attract private investment, scale up and demonstrate revenue streams from nature-based solutions.
two.1.5) Estimated total value
Value excluding VAT: £30,000,000
two.1.6) Information about lots
This contract is divided into lots: No
two.2) Description
two.2.2) Additional CPV code(s)
- 66000000 - Financial and insurance services
two.2.3) Place of performance
NUTS codes
- UK - United Kingdom
two.2.4) Description of the procurement
This notice is to call for market engagement. Interested parties should navigate to opportunity reference project_33303 on the Authority's e-tendering portal to access the request for information pack.
link to the Authority's e-tendering portal: https://defra.bravosolution.co.uk/web/login.html
two.3) Estimated date of publication of contract notice
1 October 2021
Section four. Procedure
four.1) Description
four.1.8) Information about the Government Procurement Agreement (GPA)
The procurement is covered by the Government Procurement Agreement: Yes