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25 February 2026 – From insight to action: investor pathways in natural capital investment

Join us at 10:00-11:15 GMT for an online Community Interest Group meeting with Palladium Group.

Posted on Jan 30, 2026

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Join us for the inaugural online meeting of the Biodiversity & Natural Capital Community Interest Group (CIG), delivered in partnership with our Ecosystem Theme Partner, Palladium Group. This session will spotlight the findings from Pensions for Purpose’s forthcoming Impact Lens research, commissioned by Palladium Group, which examines how asset owners and managers are integrating natural capital into their investments.

Drawing on 20 in-depth interviews conducted with 15 asset owners and five asset managers, the report provides a timely view of how investors are navigating this rapidly developing market. During the event, we will explore:

1. An introduction to natural capital as an asset class including risk and return profiles.

2. Strategic motivations from early adopters for investing in natural capital.

3. Current barriers and market gaps. 

4. Lessons learned from early allocators.

The session will also highlight selected case studies featured in the report, which show how leading investors are operationalising natural capital strategies in practice. These examples will offer a real-world view of the approaches, models and outcomes that are shaping the field today.

We will end the event with an update on some of the key challenges to growing investment by pension funds in natural capital, which were identified during our research. We will discuss how these challenges are being overcome, including how the future activities of our CIG will contribute to the solutions required.

Challenges highlighted from investors formed a range of structural and operational challenges around investing in natural capital as follows: 

  • Scientific and technical complexity: measuring ecological outcomes and environmental integrity requires specialised expertise.
  • Small ticket sizes and need for pooling structures: many opportunities do not meet institutional minimums, requiring aggregation or pooling.
  • Regulatory uncertainty: limited clarity particularly around fiduciary duty can create hesitation.
  • High data and assessment costs present challenges to identifying credible opportunities and demonstrating additionality: demonstrating real, verifiable impact is challenging. Impact measurement, monitoring, and verification drive up operational costs.
  • Liquidity constraints: these can be long-term illiquid investments which reduces flexibility. 
  • Reputational risks: Particularly acute in markets like carbon credits, where quality and integrity are heavily scrutinised.
  • Insufficient expertise/knowledge about this asset class. 
Register here

Ecosystem Partner





Speakers

Katharina Lindmeier, Head of Sustainability Strategy, Nest

Katharina’s role includes leading the pension scheme's approach to managing climate change risks and opportunities within the £60bn portfolio. She joined Nest in 2019 and previously worked at Railpen and Aberdeen Standard Investments. She holds an MA in Philosophy and Economics from the University of Edinburgh, and an MSc in Economics and Policy of Energy and the Environment from UCL. Katharina is also a CFA charterholder. 

Andrew Sutherland, Head of Climate, Environment and Natural Capital, Palladium Group

Andrew Sutherland is a Director and Venture Builder with 15+ years of experience in the design, financing and implementation of projects, businesses and portfolios that support the protection and restoration of nature. Andrew has created socioenvironmental impact on the ground in 25+ countries in both emerging and developed markets, and in international development as well as private sector contexts.

Andrew’s mission is to help to address the intersectional crises of climate change, nature loss and extreme inequality through providing the projects and businesses on the ground who hold the solutions with the right access to finance, technical assistance and markets.

Bruna Bauer, Head of Impact Lens, Pensions for Purpose

Bruna leads our research on sustainable and impact investing trends among UK asset owners. She focuses on empowering pension funds, advisers, and asset managers to make informed investment decisions that generate positive social and environmental outcomes. She holds a Master of Arts in History of Global Markets from the University of Göttingen and a Master’s degree in Global Political Economy from the University of Glasgow, with an academic focus on sustainable finance, impact investing and the historical dynamics of global markets.

David Brown, Senior Director & Training Lead, Pensions for Purpose

David has worked in the pension and financial services industry for over 35 years and has both UK and international experience. As well as being Senior Director & Training Lead at Pensions for Purpose, David is an accredited professional pension trustee. 

David has broad investment, risk management and operational experience across both defined benefit and defined contribution schemes with a particular interest in environment, social and governance (ESG), and climate change. He holds the CFA Certificates in ESG Investing and Impact Investing as well as being a Fellow of the Pensions Management Institute.

Further speakers to be confirmed. 

Host

David Brown, Senior Director & Training Lead, Pensions for Purpose

David has worked in the pension and financial services industry for over 35 years and has both UK and international experience. As well as being Senior Director & Training Lead at Pensions for Purpose, David is an accredited professional pension trustee.

David has broad investment, risk management and operational experience across both defined benefit and defined contribution schemes with a particular interest in environment, social and governance (ESG), and climate change. He holds the CFA Certificates in ESG Investing and Impact Investing as well as being a Fellow of the Pensions Management Institute.