Understanding Nature’s ROI: How Leading Companies Are Capturing Nature-related Opportunities

New research from Natcap and Earth Capital Nexus at the Grantham Research Institute on Climate Change and the Environment and Global School of Sustainability within the London School of Economics and Political Science examines lessons from Coca-Cola Europacific Partners, Mars, Natura, United Utilities, and Bosch on protecting revenues, reducing costs and strengthening resilience through nature-related investment.

London, UK – 27 October 2026 – New research from Natcap and Earth Capital Nexus shows how companies are building the business case for investment in nature-related opportunities, with case studies demonstrating how investments that deliver positive outcomes for nature can also generate material commercial returns.

  • United Utilities - peatland, woodland and wider habitat restoration across water abstraction catchments, safeguarding £1.8 billion in annual water supply revenue, at a project cost of under 0.01% of that revenue.

  • Mars - deforestation- and conversion-free cocoa sourcing, restoration and regeneration activities, and climate-smart agriculture practices under its Cocoa for Generations strategy. A US$1 billion, ten-year commitment protecting a Snacking segment worth 39% of total company sales.

  • Natura - Amazonian bio-ingredient sourcing and regenerative palm oil agroforestry for supply chain resilience, with higher yields and lower fertilisation costs than monoculture. Helped secure ~US$258 million in additional innovative financing.

  • Coca-Cola Europacific Partners - riverbank restoration, wetland rehabilitation, aquifer recharge and farmer water-efficiency support across 11 countries. Replenishes over 100% of the water volume used in its finished drinks and mitigates up to €64 million in annualized operating-profit impact.

  • Bosch - circular packaging redesign and plastic elimination across its wiper blade product line. Cut packaging waste by 50% and product carbon footprint by 24%, at cost neutrality.

Across the case studies, business resilience, the ability to absorb shocks, navigate uncertainty and transform in the face of crises, emerged as a dominant driver of investment in nature.

These investments are delivering tangible business value: safeguarding significant revenues, reducing operating costs, mitigating supply chain and operational risks, and unlocking additional innovative sources of finance. The research identifies five key lessons for companies seeking to capture nature-related opportunities:

  • Linking nature-related investments directly to core business priorities, including water security, supply continuity, cost efficiency, customer demand and resilience.

  • Embedding nature into leadership accountability, governance, budgets and commercial decision-making so it becomes part of business as usual.

  • Acting on strong directional evidence rather than waiting for perfect data, using pilots to build measurement systems and demonstrate value.

  • Working with governments, financiers, NGOs, researchers and supply-chain partners to share costs and risks, access blended finance where appropriate, and achieve greater scale.

  • Prioritising initiatives that deliver multiple benefits, across nature, climate, water, compliance and supply-chain resilience, and assess their value over longer time horizons.

Sebastian Leape, CEO of Natcap, said: “For nature to become a core business priority, companies need to understand its financial materiality. These case studies show what that looks like in practice: businesses investing in nature to protect revenues, strengthen supply chains, reduce costs and build resilience.”

“The next step is making that business case more systematic, giving decision-makers credible evidence to understand where nature-related risks and opportunities could have the greatest financial impact and where investment should be prioritised.”

Nicola Ranger, Executive Director of Earth Capital Nexus and Professor in Practice, LSE, said: "Nature is not just an environmental concern; it is a business and investment opportunity. Our research shows that companies are already investing in nature to strengthen supply chains, secure critical resources like water, and build resilience to shocks. The lesson is clear: we don't need perfect data to act. By connecting nature to business priorities, engaging senior leadership and taking a longer-term view, companies can unlock investments that deliver both commercial value and benefits for nature. Scaling up these approaches is essential to closing the nature investment gap."

The research identifies practical lessons for companies building the business case for nature, including connecting opportunities to core business impacts and dependencies, integrating investment into existing budgets and commercial decision-making, securing leadership support, and evaluating returns over longer time horizons.

It also identifies significant measurement gaps, particularly in quantifying the financial materiality of nature-related risks, avoided losses and resilience-adjusted returns from investment in nature-related opportunities.

The paper provides a framework to help sustainability teams work with finance, procurement, risk and other functions to build the business case for investment and turn nature-related opportunities into commercial decisions.

Read the full paper here.

 

Authors

Juliette Perche, Senior Delivery Manager, Natcap

Beccy Wilebore, Chief Science Officer, Natcap

Sebastian Leape, CEO, Natcap

Thea Philip, Senior Policy Fellow, Earth Capital Nexus

Yoselin Oropeza Abregú, Policy Officer, Earth Capital Nexus

Nicola Ranger, Executive Director of Earth Capital Nexus and Professor in Practice

 

About Natcap

Natcap is a global leader in environmental risk data, analytics and advisory. Founded in 2018 by scientists at the University of Oxford, Natcap combines world-leading science, location-specific supply chain intelligence and strategic advisory services to enable corporations and financial institutions to identify, quantify and prioritise environmental risks and opportunities in financial terms. Natcap delivers finance-grade, audit-ready intelligence that shows where environmental risk is financially material, what it could mean for business performance, and where action can create the greatest value. This enables organisations to strengthen business resilience, protect financial performance and make better-informed operational and investment decisions.

 

About Earth Capital Nexus

Earth Capital Nexus is a global research initiative at the London School of Economics and Political Science hosted by the Grantham Research Institute on Climate Change and the Environment and the Global School of Sustainability. The initiative brings together world-leading research, technical expertise and convening power, working across local, national and global scales to radically scale up high-quality and accessible finance for sustainable development and secure a resilient, nature-positive and prosperous future for all.

 

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