Through its Latin American reforestation strategy, BTG Pactual Timberland Investment Group (TIG) and impact adviser Conservation International (CI) are leading one of the largest-known restoration projects in the Cerrado region of Brazil, a project which has earned it this year's 'Impact project/investment' award in the 'Biodiversity and ecosystems' category.

The strategy, which aims to protect and restore around 130,000 hectares of natural forests in deforested landscapes, was operationalised over the past year. To date, it has invested in around 46,000 hectares of land through twelve different investments and begun restoration of around 4,000 hectares.

Its restoration project is also developing a natural 'corridor' with neighbouring forest in a bid to link up 10,000 hectares of ecosystems and biodiversity. It claims to have identified over 380 species on the strategy's property.

Last month, the strategy hit the $500 million funding mark, halfway towards its $1 billion goal. This includes funding from the Sumitomo Mitsui Banking Corporation, the International Finance Corporation, the UK government and Dutch development bank FMO.

The project also seeks to generate carbon credits, and earlier this year it was announced that Microsoft will buy around eight million carbon removal credits until 2043, in what is thought to be the largest carbon credit transaction to date. Meta announced they will purchase up to 3.9 million carbon removal credits from the same strategy.

TIG is also working with the local communities it operates in to deliver seed collection training. The University of Vicosa is studying restoration techniques on the site in a long-term academic research programme.

Mark Wishnie, chief sustainability officer at BTG Pactual Timberland Investment Group, said: "It is very gratifying to see the impacts of our reforestation strategy continue to emerge on the ground: over time, we expect to see biodiversity returning, ecosystem connectivity improving, and new opportunities for rural communities to develop.

"But this is still the beginning. As we continue executing one the largest known restoration efforts in the Cerrado biome of Brazil, our aim is to set a new standard for what's possible with sustainable forestry - for the benefit of people, climate and nature."