--- title: "Big Nature Impact Fund (BNIF) Policy Evaluation" ocid: "ocds-b5fd17-d9c3a8cf-59ab-45e5-90eb-316709dd4260" canonical_url: "https://d3tenders.com/contract/?ocid=ocds-b5fd17-d9c3a8cf-59ab-45e5-90eb-316709dd4260" markdown_url: "https://d3tenders.com/contract/ocds-b5fd17-d9c3a8cf-59ab-45e5-90eb-316709dd4260.md" json_url: "https://d3tenders.com/contract/ocds-b5fd17-d9c3a8cf-59ab-45e5-90eb-316709dd4260.json" source: "Contracts Finder" current_stage: "Planning" buyer: "DEPARTMENT FOR ENVIRONMENT FOOD & RURAL AFFAIRS" published: "2023-01-19" --- # Big Nature Impact Fund (BNIF) Policy Evaluation Buyer: DEPARTMENT FOR ENVIRONMENT FOOD & RURAL AFFAIRS Current stage: Planning OCID: ocds-b5fd17-d9c3a8cf-59ab-45e5-90eb-316709dd4260 [View canonical contract page](https://d3tenders.com/contract/?ocid=ocds-b5fd17-d9c3a8cf-59ab-45e5-90eb-316709dd4260) [Download OCDS JSON](https://d3tenders.com/contract/ocds-b5fd17-d9c3a8cf-59ab-45e5-90eb-316709dd4260.json) ## Summary The Department for Environment Food & Rural Affairs is planning a procurement process titled "Big Nature Impact Fund (BNIF) Policy Evaluation" in the financial and insurance services industry category. The procurement stage is in the planning phase, with an engagement end date set for 2nd February 2023. The contract aims to develop an evaluation framework for the BNIF policy intervention, involving research requirements and two work packages. The buying organisation is seeking contractors with expertise in impact investment funds and environmental finance. This tender offers opportunities for businesses, especially those experienced in evaluation consultancy services and environmental solutions, to contribute to the BNIF project's success. Small and medium-sized enterprises (SMEs) and voluntary, community, and social enterprise (VCSE) organisations are well-suited for this contract. The Department for Environment Food & Rural Affairs is leading this initiative, aiming to drive private sector investment in nature projects in England, focusing on woodland creation, peatland restoration, and habitat banks to support Biodiversity Net Gain. ## Notice Background The Big Nature Impact Fund (BNIF) is a policy framework designed to create a public-private blended impact investment fund. It aims to increase private sector investment in domestic nature recovery projects - particularly woodland creation, peatland restoration and habitat banks to support Biodiversity Net Gain (BNG) implementation. It will also develop a track record for private investment in nature which others can build upon. By investing on a repayable basis into a private sector fund, Defra aims to show market actors that HMG is committed to scaling up nature-based investment and demonstrate the potential for achieving a financial return on investment. BNIF's fund manager was announced as Federated Hermes and Finance Earth in November 2022[1] with Defra committing PS30m seed capital to act in a 'first loss' position. Federated Hermes and Finance Earth will invest blended public-private capital through BNIF, on a repayable basis, into a portfolio of nature projects that can generate revenue from ecosystem services and green enterprises to support the development and delivery of such projects. BNIF will only invest in England but will be part of a UK-wide investment strategy managed jointly managed by Federated Hermes and Finance Earth. DRAFT - SPECIFICATION Research Requirements The aim of this contract is to: i. design a robust yet proportionate and reasonable evaluation framework in line with HMT Magenta Book guidance and relevant supplementary guidance to enable us to understand the success of BNIF as a policy intervention; and ii. undertake the initial process evaluation to explore the initial set up of the fund and collect and present baseline data to enable us to track progress on tackling market failures, for example around investor confidence. The contract is made up of the following 2 work packages: Work Package 1: Developing the Evaluation Framework Work Package 2: Carry out an initial process evaluation Project Team We anticipate that the contractor should have experience in carrying out successful, complex, evaluations, with knowledge and expertise of impact investment funds which invest capital on a repayable basis, the financial market and nature-based solutions. We would like the contractor to have a track record of working collaboratively with the key stakeholders in the environmental and green finance sector. RFI - Response to Catherine.Hacker@defra.gov.uk with Subject heading: BNIF M&E RFI response HOW TO RESPOND: You are not required to answer every question - any information will be gratefully received. * Clarification period will be 18th November 2023 - 16:00 1st February 2023. Questions and further information can be found within the attached documents. ## Key Details | Field | Value | | --- | --- | | Publication source | Contracts Finder | | Latest notice | https://www.contractsfinder.service.gov.uk/Notice/34af951b-1f3f-496d-8e89-ac9e376c5d78 | | Notice type | Market Engagement Notice | | Procurement type | Standard | | Procurement category | Not specified | | Procurement method | Not Specified | | Procurement method details | Not specified | | Tender suitability | SME, VCSE | | Awardee scale | Not specified | | All stages | Planning | ## Dates | Field | Value | | --- | --- | | Publication date | 19 Jan 2023 | | Submission deadline | Not specified | | Future notice date | 2 Feb 2023 | | Award date | Not specified | | Contract period | Not specified | | Recurrence | Not specified | ## Values | Field | Value | | --- | --- | | Tender value | Not specified | | Lots value | Not specified | | Awards value | Not specified | | Contracts value | Not specified | ## Status | Field | Value | | --- | --- | | Tender status | Planning | | Lots status | Not specified | | Awards status | Not specified | | Contracts status | Not specified | ## Buyer | Field | Value | | --- | --- | | Main buyer | DEPARTMENT FOR ENVIRONMENT FOOD & RURAL AFFAIRS | | Locality | LONDON | | Post town | South West London | | Postcode | SW1P 3JR | | Country | England | | ITL 1 | TLI London | | ITL 2 | TLI3 Inner London - West | | ITL 3 | TLI35 Westminster and City of London | | Local authority | Westminster | | Electoral ward | St James's | | Westminster constituency | Cities of London and Westminster | | Delivery location | Not specified | ## CPV Codes ### Divisions - 66 - Financial and insurance services - 77 - Agricultural, forestry, horticultural, aquacultural and apicultural services - 79 - Business services: law, marketing, consulting, recruitment, printing and security - 90 - Sewage, refuse, cleaning and environmental services ### Codes - 66000000 - Financial and insurance services - 77200000 - Forestry services - 79419000 - Evaluation consultancy services - 90700000 - Environmental services ## Release History - 19 Jan 2023 at 11:18 - Planning - Market Engagement Notice - https://www.contractsfinder.service.gov.uk/Notice/34af951b-1f3f-496d-8e89-ac9e376c5d78 - 19 Jan 2023 at 10:34 - Planning - Market Engagement Notice - https://www.contractsfinder.service.gov.uk/Notice/34af951b-1f3f-496d-8e89-ac9e376c5d78 ## Documents - https://www.contractsfinder.service.gov.uk/Notice/34af951b-1f3f-496d-8e89-ac9e376c5d78 19th January 2023 - Early engagement notice on Contracts Finder - https://www.contractsfinder.service.gov.uk/Notice/Attachment/f89473cc-eced-4828-809c-62bfbea3f97c Request for Information document - https://www.contractsfinder.service.gov.uk/Notice/Attachment/ee298613-c049-4770-93e2-771f5141a979 DRAFT Specification ## Provenance This Markdown file is an alternate public rendering of the D3 Tenders contract record. The canonical page is https://d3tenders.com/contract/?ocid=ocds-b5fd17-d9c3a8cf-59ab-45e5-90eb-316709dd4260. The underlying structured data is available as OCDS JSON at https://d3tenders.com/contract/ocds-b5fd17-d9c3a8cf-59ab-45e5-90eb-316709dd4260.json.