Mimic This: Private Credit Enhancement Facility and Contingent Resilience-Linked Bonds Win Tagus Roundtable 2025

Earlier this May, leaders from around the world came together in Lisbon, Portugal, for the 2025 Tagus Roundtable.

Held at the Lisbon School of Economics & Management (ISEG), the event brought together investors, government officials, and innovators who are working on new ways to finance climate solutions.

Why This Matters

Two major ideas stood out this year:

• Private Credit Enhancement Facility (PCEF): This plan, led by Ramzi Issa, Brian McPeek, and Braeden Mayer of Enosis Capital, helps reduce the risk of "debt-for-nature" deals. These deals let countries lower their debt in exchange for protecting the environment.

• Contingent Resilience-Linked (CORL) Bonds: Created by Ulf Erlandsson and Justine Leigh-Bell of the Anthropocene Fixed Income Institute, these bonds reward countries or companies that show real progress in adapting to climate change. The better the results, the better the financial terms.

Details

The Tagus Roundtable isn’t just about talking; it's about testing ideas.

Each day focused on one financial topic, with workshops designed to find problems and build practical solutions. To keep discussions open and honest, all talks follow Chatham House Rules, which means nothing shared can be quoted or linked to anyone by name. Outside of the workshops, participants connected through cultural dinners, vineyard visits, and art performances. These moments helped build strong relationships, which are key to making big ideas happen.

The Tagus Roundtable has become one of the most significant convenings in the climate finance space not because of its size or publicity, but because of its focus, structure, and results.

Why Tagus Works

It brings the right people together. Unlike large-scale conferences, the Tagus Roundtable is invitation-only and purposefully intimate. It gathers leading investors, policymakers, and innovators who are actively shaping the future of climate finance. This curated approach fosters deeper conversations, faster trust-building, and higher-impact outcomes.

It also serves as a launchpad for next-generation finance tools. Many of the financial ideas presented at Tagus, such as Contingent Resilience-Linked Bonds and the Private Credit Enhancement Facility, are designed to unlock capital for climate adaptation and biodiversity at scale. The Roundtable serves as an early-stage workshop where these ideas are stress-tested, refined, and positioned for implementation

Finally, it operates under Chatham House Rules by ensuring that nothing shared is attributed to individuals. The Roundtable creates a safe space for open, honest discussion. Participants can speak candidly about challenges, trade-offs, and risks of conversations that are often avoided in more public forums.