Published date: 22 November 2021

Closed opportunity - This means that the contract is currently closed. The buying department may be considering suppliers that have already applied, or no suitable offers were made.

Closing: 28 January 2022, 12pm

Contract summary


  • Financial and insurance services - 66000000

Location of contract

Any region

Value of contract


Procurement reference


Published date

22 November 2021

Closing date

28 January 2022

Closing time


Contract start date

1 June 2022

Contract end date

31 May 2039

Contract type

Service contract

Procedure type

Open procedure (below threshold)

Any interested supplier may submit a tender in response to an opportunity notice.

This procedure can be used for procurements below the relevant contract value threshold.

Contract is suitable for SMEs?


Contract is suitable for VCSEs?



Defra is launching a competition to appoint a Fund Manager for the Big Nature Impact Fund (BNIF), a proposed public-private blended finance vehicle with up to £30 million public investment.

In the England Trees Action Plan, Defra committed to create an impact fund which could leverage private finance into new natural capital markets for carbon, water quality, biodiversity, natural flood alleviation and other ecosystem services.

In Summer 2021, Defra launched a Request for Information to seek market insight on the Fund's design. Now, Defra is seeking proposals from potential managers for how they would design and run the Fund.

The Fund has the following policy objectives:
1. Create a legacy of investor confidence in ecosystem services markets by demonstrating the viability of investments at scale.
2. Further develop and pilot new business models for ecosystem services.
3. Increase viability of more natural environment projects.
4. Leverage private finance to increase rates of tree planting, woodland creation, peatland restoration, and habitat creation.
5. Realise the benefits of nature-based solutions, including carbon sequestration, biodiversity gains, water quality improvements, natural flood management,
and the associated social and economic benefits.
6. Generate and share knowledge of ecosystem services market models, to enable the development of a pipeline of nature-based projects.

More information

Previous notice about this procurement

Early Engagement for Defra's Big Nature Impact Fund

  • Early engagement
  • Published 27 July 2021



About the buyer

Contact name



17 Nobel House