Presented by Felia Salim at Blue Carbon Summit, on 17-18 July 2018 in Jakarta, Indonesia

1. Sail Ventures is the investment advisor for &Green
FELIA SALIM
Board of Directors
BLUE CARBON SUMMIT
Mainstreaming blue carbon into the national agenda to meet global commitments
17 -18 July 2018
Investing in inclusive agriculture, protecting forests

2. advised by Sail Ventures © strictly confidential 2
The &Green Fund aims to prove that financing
inclusive, sustainable and deforestation-free
commodity production can be commercially viable and
replicable, thus strengthening the case for a rural
development paradigm that protects valuable forests
and peat lands and promotes high-productivity
agriculture.

3. advised by Sail Ventures © strictly confidential 3

4. advised by Sail Ventures © strictly confidential 4
&Green’s return targets
Economic returns
• Only finances financially viable projects.
• &Green aims to be financially sustainable.
• Catalyzes commercial actors at transaction level through
&Green’s risk subordination.
Environmental Returns
• Aims to maximize additionality of ha of Forest Conserved +
ha of Forest Restored + ha of land
intensified/regenerated (avoided deforestation) per project.
• Client must have an NDPE and meet IFC PS.
• Client engaged in a sustainable land-use and management plan
on surrounding landscape (multi-stakeholder approach).
Social Inclusion
• &Green targets jobs created + smallholder suppliers
financed.
USD 2 billion of
commercial
capital catalyzed
5 million hectares
of tropical forest
conserved.
500,000
households
benefiting from
the Fund.

5. advised by Sail Ventures © strictly confidential 5
&Green Pricing
• &Green does price transaction costs and project risk -
to recover its costs and potential losses.
• However able to absorb high short- and medium-term
risk, with lower than market cash-flow requirements in
early years.
Investor base vs Project financing
• &Green raises patient and non-commercial capital at
the Fund level
• Donors – e.g. NICFI – will represent >60%, through
grants and redeemable grants
• Private Sector – e.g. Unilever – senior to public
donors, investments redeemable in the long-term
• At the Project level &Green catalyses semi-
commercial and commercial investment from other
investors
&Green Pricing – a public-private blended finance tool
Sustainable land-use projects
&Green
Concessional
Capital
Private
Investors
Commercial
capital
Public
Donors

6. advised by Sail Ventures © strictly confidential 6
Jurisdictional
eligibility
process
&Green will invest exclusively
in projects located in
jurisdictions where the
authorities demonstrate
commitment to, and are making
progress on, reducing
deforestation. The purpose of
the Jurisdiction Eligibility
Criteria (“JEC”) and the
Jurisdictional eligibility
assessment and approval
process is to help &Green to
select jurisdictions where it can
invest.
Whilst the JECs are the same
for all Jurisdictions, the
interpretation of the criteria
will be tailored to the specific
Jurisdiction.