Key points
A new multi-year partnership between NESsT and the MetLife Foundation will accelerate sustainable forest conservation by catalyzing 10 Amazon-based enterprises.
NESsT Amazonia is one of NESsT’s flagship initiatives that connects local, environmentally-conscious enterprises in the rainforest to sustainable markets, protecting the biodiversity of the Amazon basin while ensuring quality livelihoods for local communities.
The Amazon region is home to an estimated 10% of the Earth's species and 20% of its fresh water. The region accounts for 145 million people, of whom approximately 40 million, or 28%, live in poverty. Climate change and deforestation have sped up the destruction of the forest – approximately one-fifth of the Brazilian Amazon forest has already fallen, bringing it alarmingly close towards tipping into a permanently degraded state with no return.
Associação Comunitária Agrícola do Rio Urupadi (“ASCAMPA”) - one of incubation companies from NESsT Amazonia
NESsT Amazonia is one of NESsT’s flagship initiatives that connects local, environmentally-conscious enterprises in the rainforest to sustainable markets, protecting the biodiversity of the Amazon basin while ensuring quality livelihoods for local communities.
The MetLife Foundation is joining other donors, including Cisco, the Climate and Land Use Alliance (CLUA), Erol Foundation, and Parceiros Pela Amazônia (PPA), among others, to support NESsT Amazonia. This new multi-year partnership between NESsT and the MetLife Foundation will accelerate sustainable forest conservation by catalyzing 10 Amazon-based enterprises.
"We’re very excited to announce our new partnership with NESsT. MetLife Foundation’s support enables NESsT to work alongside the chosen enterprises and provide them with financial support as well as business mentoring to help them grow and achieve their goals. The project reinforces our commitment to driving inclusive economic mobility for underserved and underrepresented communities around the world.” says Breno Gomes, CEO of MetLife Brasil.
The NESsT Amazonia portfolio consists of entrepreneurs, cooperatives, and associations operating businesses that provide employment opportunities to forest communities while conserving local ecosystems. As part of their mission, these enterprises target communities of the forest with few livelihood alternatives but who play a significant role in conserving the forest.
“The vast majority of smallholder farmers benefiting from the initiative are indigenous, local and women. Our incubator significantly advances inclusion of these groups by helping them to play an increasing role in the role against climate change.'' shared Renata Truzzi, NESsT Brazil Country Director.
Increasing access to finance for local, environmentally-conscious enterprises by providing them with seed funding and business assistance and connecting them to donors and investors.
For most entrepreneurs located in remote areas of the Amazon basin, access to markets remains a challenge – the demand for newer products is immature and subject to high price fluctuations, and obtaining certifications such as organic, fair trade, or rainforest preservation can be prohibitively expensive for local enterprises.
Additionally, the enterprises in the Amazon Basin face challenges in achieving investment readiness due to inadequate financial management,limited client diversification, and changes in legislation.
“NESsT Amazonia is a long-term approach to meet the needs of the region. The early-stage eco-enterprises in its portfolio have the potential to improve living conditions and regenerative conservation in the Amazon basin at scale, and NESsT is committed to guiding them through the transition of moving from start-ups to fully scaling businesses.” shared Renata Truzzi, NESsT Brazil Country Director.
With support from the MetLife Foundation, NESsT Amazonia will support the enterprises in its portfolio to strengthen operational and business capacity and governance, with goals to increase their sales and commercial partnerships, improve supply chain management, and reduce dependence on public programs.
NESsT prioritizes environmental risk mitigation by investing in climate predictability, conducting technical studies to identify potential risks in advance, and implementing product diversification strategies including counter-cyclical and complementary options, and training smallholder farming families in agroforestry and sustainable management.
“Our approach is to promote sustainable business practices that support the long-term health of our environment and local communities in the forest,” said Nicole Etchart, NESsT Co-Founder and CEO.
About NESsT
NESsT is a catalyst for social enterprises in global emerging markets. NESsT provides financial capital, training and mentoring, and access to markets for a high-impact portfolio of social enterprises that solve critical social problems within marginalized communities across Central and Eastern Europe and Latin America. Since its founding in 1997, NESsT has invested over $27M, trained and supported over 30,700 entrepreneurs, and accelerated and financed 232 enterprises sustaining more than 89,000 formal jobs, and improving the lives of over one million people. Learn more: nesst.org
About MetLife Foundation
At the MetLife Foundation, we believe that financial well-being is for everyone. We bring together innovative solutions with deep financial expertise and significant awards to build financial well-being for underprivileged people and communities who aspire to improve their living conditions. We team up with organizations around the world to create financial well-being solutions and build stronger communities, engaging MetLife employees to help build this impact. To date, our financial education work has reached more than 6 million low-income individuals in 42 countries. To learn more about the MetLife Foundation, visit metlife.org.
About MetLife
MetLife, Inc. (NYSE: MET), through its subsidiaries and affiliates ("MetLife"), is one of the world's leading financial services companies, offering insurance, annuities, employee benefits, and asset management to help its individual and corporate customers navigate a changing world. Founded in 1868, MetLife operates in more than 40 markets worldwide and holds leading positions in the United States, Japan, Latin America, Asia, Europe and the Middle East. For more information, visit www.metlife.com.br