Investing in Rewilding

Can you take us through the origins of the partnership between Hogan Lovells and Rewilding Europe?

Manon: We had already set a goal for all our employees to spend at least 25 hours per year on responsible business. For lawyers, the best way to do that is provide pro bono advice, and that is how I got introduced. I still remember the first meeting we had with Rewilding Europe. I was mesmerized. Impact is what we saw in what they do. 

Mareike: We definitely feel a push from young talent considering joining the firm. They want to choose an employer that that is responsive to the climate crisis. But even before this, there was a mandate for us in the Responsible Business team to discover and explore partnerships in the field of climate action and biodiversity. Rewilding is a cost-efficient and very inclusive way to mitigate climate change, because of the engagement of local people. We thought, through building partnerships with organisations in the field of rewilding, we could aim to not only restore nature, but have benefits for people, the planet and wildlife at the same time. That's really a triple win.

What makes the work of Rewilding Europe unique and urgent? 

Laurien: What makes rewilding different than other conservation movements is that it’s holistic. We want to rebuild resilient ecosystems. Yes, it is about biodiversity, we are facing a massive loss of species, but we look at the whole system. We aim to have healthy ecosystems again, and with that comes climate change mitigation: restoring forests and wetlands, which are carbon sinks. It's the impact of climate change that makes it urgent.  There's still some misconception that rewilding is about wilderness, and people are not part of that. But nature recovery can drive economic growth for communities. We see social cohesion increasing, identity and pride when communities recognise that wild nature is part of their heritage.

Can you share some highlights and learnings from a past case study?  

Mareike: In the Snowchange Cooperative case, a former peat extraction site has been transformed into a thriving ecosystem. When Snowchange started the work back in 2013, there were only two bird species left. At the end of our partnership with Snowchange, in 2022, they counted 195 bird species. We had audio recordings of those birds and played them in the office to share the experience. Of course, other measurements were taken, like the water and the air quality. Ecotourism is starting to grow there. We continue to sponsor that site and have also started to finance a second site, which is managed by the Sámi, the only indigenous group in Europe. They are rewilding a northern boreal forest which is crucial for the Sámi’s reindeer herding and other traditional ways of living. On the one hand, we want to measure the impact scientifically. On the other, it's also about using more traditional knowledge from people who have lived there. I think that's really one of the principles: to be the ally, not the controller. That’s a mindset shift. Our podcast about this initiative is called “Rewilding Hogan Lovells,” which is a bit of wordplay, because it's not only about Rewilding Europe, but also about rewilding the firm – shifting our mindset. 

How does Rewilding Europe measure and manage impact?  

Laurien: We work with partners who look at specific metrics like species return. We measure how many hectares of land have been rewilded. But our long-term focus is to measure the full ecosystem and whether it becomes wilder. That’s not easy. We have academic partnerships to develop those KPIs, and a whole monitoring team now in place, but in a way, we're still in the early days. We accept that we don't know everything, so we keep moving and learn along the way. 

Earlier in July you held an event in Amsterdam – Nature as our partner in shaping a better tomorrow – aiming for a future where “healthy nature and corporate commitment are in sync.” What are some key takeaways? 

Mareike: There was interest from the business world in how we set up the Hogan Lovells and Rewilding Europe partnership. Something we've learned with nonprofit partnerships is that volunteering is super important, but there's also money needed, and for that it needs to reach CEOs and senior management. When talking to senior management, it’s great to highlight the impact and the benefits this will have for wider society and the planet, but also look at it from the business angle. In the EU, given regulatory developments, there is a business side to these stories. Rewilding is cost-efficient, compared to other forms of land restoration. That's something to consider when you have nonprofit and for-profit organisations collaborating. 

Manon: One client came to us at the event and said, ‘The introduction was called, “Investing in nature recovery.” How can I financially invest?’

While ‘investing’ in rewilding is a financial opportunity, of course, there are also a lot of different ways to invest. Hogan Lovells’ pro bono work is also an investment in rewilding.

When clients tell us there's a lot of regulations around the corner on deforestation or biodiversity, think of it as an opportunity. Instead of ticking the box for compliance, consider what you can do to turn it around and invest in something like rewilding. It helps you in the reporting obligation but, more importantly, makes you a responsible partner.   

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“Rewilding is a solution that touches climate, biodiversity and people,” said Laurien, towards the end of our conversation. “It's cost-effective and it's available now.”

So how does one financially invest in nature recovery? One way, not mentioned in the conversation with Mareike, Manon and Laurien, is through a new initiative called Rewilding Climate Solutions, a limited company incubated by Rewilding Europe. The incubation period helped them develop the first nature-based carbon projects in peatland and forest restoration, and the company is operational as of 2023.  

“We hope to grow the market for nature-based impact investing, which could be similar to renewable energy, social housing or microfinance,” said Timon Rutten, Director of Rewilding Climate Solutions. “We’re now seeking corporate carbon buyers and impact investors to join us on that journey.”