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Scaling nature-based solutions
How can insurance be an enabler to catalyse investment into nature-based projects?
Summary
In contrast to the other labs, this Innovation Lab aimed to explore how the insurance industry and the broader finance sector can catalyse investments in nature-based solutions, i.e. scale up finance for nature.
Audiences
Insurance professionals
NbS promoters and developers
Outcomes
Developed in collaboration with ClimateWise, an insurance industry member network, the Lab’s main output is a five phase roadmap for implementing innovative financing models for nature-based solutions;
The roadmap is designed to be used by practitioners working on nature-based projects, or exploring this area of the insurance landscape, as prompts for what activities need doing and when in the project’s lifecycle;
Lab participants collaboratively proposed six main areas of focus to ensure nature-based solutions have suitable outcomes, and shared their knowledge and experience on what currently works well, what does not, and what they would change;
To bring the roadmap to life and inspire action, we maintain a list of nature-based projects in which insurance is playing a role. These concrete, real-world, examples of innovations in the insurance sector help bring to life the roadmap, as well as demonstrating what is already possible.
Additional Materials
Presentation: How can insurance be an enabler to catalyse investment into nature-based projects? (February 2025);
Scaling finance for nature: Barriers breakdown report.
Policy and finance brief: Scaling investments for Nature-based Solutions.