NATDAQ · Natural Capital Exchange · A division of EPC Holdings Ltd · Sovereign issued · Validated · Authorised
NNATDAQ
02 · How It Works

From sovereign programme to institutional capital.

Five steps from sovereign national programme to a scored, listed instrument in institutional hands. AiGLe Score is the mandatory gateway. NATDAQ is the market.

  1. 01

    Programme Submission

    The sovereign government submits programme details to AiGLe for assessment. Programme scope, legal framework, land tenure, and ecological delivery plan are reviewed against the published CFFI analytical criteria.

    Output
    Programme Assessment Brief
  2. 02

    Instrument Structuring

    Programme cashflow rights are structured into unit-level instruments over the conservation, forestry, or carbon programme area. These pool into an SPV ready for ABS issuance — senior, mezzanine, and junior tranches. Senior tranche sized to achieve AAA Basel III HQLA Level 1 eligibility on OECD sovereign backing.

    Output
    SPV Structure & Tranche Map
  3. 03

    AiGLe Score

    AiGLe assigns scores to each tranche under the published four-pillar CFFI framework. Senior tranches backed by OECD sovereign programmes are eligible for AAA, qualifying for Basel III Level 1 HQLA. A current AiGLe Score is mandatory for NATDAQ listing.

    Output
    AiGLe Score Certificate per Tranche
  4. 04

    NATDAQ Listing

    Scored tranches are listed on NATDAQ. Each instrument receives an NDQ certificate number, full AiGLe Score disclosure, and surveillance commitments from the issuer. Listed instruments appear in the NATDAQ register accessible to institutional investors.

    Output
    NDQ Certificate & Listing
  5. 05

    Capital Markets Access

    Listed instruments are accessible to central banks, sovereign wealth funds, pension funds, insurance companies, and ESG mandates. HQLA-eligible tranches satisfy Basel III LCR requirements. Capital moves from institutions to conservation and forestry programmes globally.

    Output
    Programme Financing Live