Voluntary carbon markets-focused finance company Climate Impact Partners and Aviva Investors, the global asset management business of Aviva plc, announced the launch of the Llanos Vivos project, a large-scale afforestation and restoration initiative in Colombia, designed to generate high-integrity carbon removal credits while restoring degraded land.
The project, located in the Vichada region of Colombia’s eastern plains, will cover up to 13,600 hectares of under-productive grassland, with plans to restore the area into a biodiverse forest ecosystem.
According to the companies, the initial phase of the project is expected to remove over 2.4 million tons of carbon, with the project having the potential to capture over six million tons over its full lifespan.
Under the agreement, Climate Impact Partners will act as project originator and delivery partner to Aviva, providing ongoing management across the area, while forestry investment firm &Forest will act as an the on-the-ground implementation partner.
Sheri Hickok, CEO at Climate Impact Partners said:
“Through this partnership with Aviva Investors, we’re showing how long term capital can directly support the development of high integrity, nature based carbon projects – providing the certainty projects need and the durability investors demand. By structuring projects to deliver measurable, long term impact, we’re helping unlock carbon removal as a credible, investable asset class.”
Funding will be provided by Aviva’s Carbon Removal Fund, which targets both investment returns and long-term climate impact by investing in nature-based and engineered carbon removal solutions. Aviva will receive rights to a share of future carbon credits generated through the project, the company said.
Greta Talbot-Jones, Director, Natural Capital, and co-Portfolio Manager of the Carbon Removal Fund at Aviva Investors said:
“Investors are increasingly viewing carbon removal strategies as a way to diversify their portfolio and hedge against transition risks, rather than solely impact investments. This is a great example of investment activity that can generate long-term outcomes for investors and help them align with long-term climate ambitions, whilst also delivering a range of socioeconomic and nature-based benefits.”
In addition to carbon sequestration, the project will allocate land for community-run farms to support local food production, skills development, and livelihoods. It will also contribute to natural regeneration across the surrounding landscape, including the creation of ecological corridors and the planting of native species. Over time, the restored forest is expected to be designated as conservation land, supporting the long-term permanence of carbon removal outcomes, according to the companies.
