Just over a year ago, ahead of COP26, National Parks UK joined forces with global positive impact company Palladium to launch Revere, with the bold but hopeful aim of leveraging private finance to help tackle the declining state of nature in some of the UK’s best-loved landscapes.
Revere was borne out of a need to address the growing climate crisis threatening the fabric of the UK. National Parks estimated a cost of £240 million just for its top priority projects, but with a gap between public funding available to do the work and this ambition, finding additional options was needed.
Collaborative working is the key to Revere’s success
In the twelve months since launch, Revere has already worked alongside eight of the individual National Parks across England, Scotland and Wales, helping to design 13 different nature restoration projects and making plans to raise the capital to fund them, through both public and private funding streams. Close work with landowners, tenant farmers, and other local stakeholders has been key throughout, seeking ways to support those who want to explore new ways to manage their land to bring benefits to nature and biodiversity, whilst also seeking economically viable business models.
Despite both the collaboration and the UK ecosystem services market being new and ever-evolving, in just one year Revere has gone from strength to strength and recognised by industry peers Nature-based Project of the Year at the Business Green Leaders Awards and Best Sustainable Investment Natural Capital Initiative category at the Sustainability Investment Awards.
As well as working with a range of stakeholders who are passionate about nature restoration, Revere has also been successful in securing support from major players including Santander UK, Estee Lauder Companies and Respira.
As Revere begins its second year, hopes are high for the future. Collaborations continue to be at the heart of its progress.
Making real changes happen
Andrew Sutherland, Director of Nature-based Solutions at Palladium, said: “This is a collaborative process and the partnership between the National Parks and Palladium is producing incredible learnings and progress. From funders to farmers and everyone in between, we are growing a network of people that people believe in what we are trying to achieve and are embracing changes, which can often be daunting and challenging. Getting feedback and engagement from the people that can make these changes happen has been a real benefit of the past year of work.”
Naomi Conway, Director at National Parks Partnerships, said: “A year on and we are excited by what’s been achieved by Revere in such a short space of time. Thirteen projects, countless new relationships built, dozens of studies undertaken and two awards under our belt – to say it’s been busy is an understatement. But every minute of it has been worth it when you look back over the year and take stock of what’s been achieved. We can’t wait for year two.”