Breakfast Inspiration Workshop: Impact with Natural Capital & Infrastructure

30th June 2026

On 30th June, the NAB hosted its second Breakfast Inspiration Workshop of the year focusing on Natural Capital.

Hosted by Achmea Investment Management, the session was opened by Karlijn van Lierop – Head of impact investing, followed by presentations from Lars Laumen representing Achmea, Karel Nierop from Triodos Investment Management, Ineke Keers from Agri 3 Fund and Sylvie Sprangers representing Invest International. An extended Q & A session with engaging discussions that explored both the technical complexities and the opportunities for creating impact through natural capital. The discussion opened with a growing recognition: healthy ecosystems are fundamental to economic prosperity. Speakers stressed the interconnectedness between biodiversity loss and climate change, highlighting the need to accelerate impact investments in more suitable forms of agriculture, forestry and infrastructure that support both economic growth and environmental resilience.

The case for natural capital

Natural capital investments already span regenerative agriculture, sustainable forestry, nature inclusive infrastructure and innovative technologies that help restore ecosystems. Lars Laumen explored the opportunities and challenges of investing in natural capital from an institutional perspective, noting that investors need to move beyond traditional asset allocation frameworks and recognise the interconnected nature of climate, biodiversity and land use.

Among the many innovations, solutions now also include the use of nature itself as element to reduce polluting and non-sustainable practices.eDNA and geospatial monitoring are improving how investors measure and track impact, enabling comparisons before and after interventions. Asset owners can benefit greatly from it, by requiring their fund managers to use these tools and standardise practices across different assets, improving overall data gathering and harmonisation across the sector.

Despite growing interest, natural capital remains a niche asset class. It is labelled as a “scarce commodity” requiring a long-term investment horizon, with liquidity and governance as factors contributing to add even more complexity. Scalability and diversification are also barriers, as interventions in natural capital are usually small scale and concentrated in few geographies.

Therefore, knowledge, research and data are required to improve investability and attract larger pools of capital.

Karel Nierop (Triodos IM) outlined the “why” of investing in natural capital. Conventional land management practices do not fit current and future needs and are placing growing pressure on soil and surrounding biodiversity. At the same time, rising demand for natural materials for eg. timber, rapidly changing land ownerships and land consolidation, undervalued land pieces and technological innovation all present investment opportunities waiting to be harnessed. Natural capital has demonstrated competitive historical performance, and regenerative practices supported by technology are increasingly capable of being deployed at scale. These approaches improve soil health, enhance productivity and reduce costs over time.

Speakers collectively stood by the claims that by diversifying revenue streams via complementary crops, eco-tourism and adding renewable energy sources can open multiple revenue paths for both the farmers and the investors while maintaining sustainable practices.

Collaboration and co-creation to mobilise capital

A recurring theme throughout the workshop was that successful natural capital investments depend on collaboration.

Ineke Keers presented how guarantees and technical assistance can mobilise commercial capital by reducing risks for local financial institutions. Their additionality lies in working with local investors, experts and consultants to provide technical assistance so that banks can step in with more capital for natural assets. Creating projects to be designed around local market conditions increases access to finance for farmers and agricultural businesses in emerging markets across the globe. Through coordination and working with local consultants and experts who know the ecosystem, Ineke showed how Agri 3 is able to unlock capital to those willing to make a shift. She concluded by highlighting the importance of looking at the entire ecosystem to improve the efficacy and success and lower the risk of the investment. By implementing services such as cold storage and irrigation systems, farmers are empowered to maximise their yield, while significantly improving both impact and financial performance for the investor.

Sylvie Sprangers of Invest International highlighted the role of grants supporting concessional and/or commercial loans targeting sustainable infrastructure. With a strong focus on Nature-Based Solutions that address climate challenges with innovation and technology, Sylvie showcased how protecting natural infrastructure in crucial. Using coastal protection in Togo (West Africa) as an example, she explained how public private partnerships with local governments, NGOs and development agencies allows them to build capacity and knowledge for not only protecting Natural Capital but also restoring and maintain it in the long term compared to grey infrastructure.

Data and expertise remain essential

The discussion highlighted that natural capital is still a complex investment theme. While investors increasingly recognise its potential, participants agreed that meaningful impact measurement requires better data, stronger expertise and closer collaboration across the market. The use of nature itself through natural agents and/or nature-based solutions is crucial. Technologies such as satellite imagery, geospatial analysis and eDNA are improving transparency, but speakers cautioned against reducing natural capital to a simple reporting exercise. Measuring biodiversity requires context, scientific knowledge and an understanding of local ecosystems. Rather than relying solely on standardised metrics, institutional investors should continue building internal expertise and work closely with specialists who understand the complexity of the sector.

Key takeaways

Investing in natural capital should not be a ‘tick the box’ exercise. Institutional investors need to work with local experts and/or consultants to learn and navigate the complexity of the theme
New data, technology and innovative solutions are the key elements to drive the transition forward and deliver measurable and meaningful impact alongside financial returns. Thinking beyond traditional asset classes and adopting a creative approach can also facilitate investments in Natural Capital.
Collaboration between investors, financial institutions, governments and local stakeholders is essential to mobilise capital at scale. They can provide the expertise and the know how necessary to maximise the impact and lower the risk.
Expanding the market will require continued investment in expertise, data quality and a stronger pipeline of investable opportunities. We especially thank Achmea Investment Management for hosting this session and the audience for enriching the session with questions and active engagement. You can find the speaker’s presentations here.

We especially thank Achmea Investment Management for hosting this session and the audience for enriching the session with questions and active engagement. You can find the speaker’s presentations here.