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Today, I’m joined by Genevieve Bennett, Senior Advisor and Interim Director at Forest Trends’ Ecosystem Marketplace. In this conversation, we unpack findings from the State of Private Investment in Nature 2026 report and the numbers behind the rapid growth of natural capital investing. Genevieve explains why private investment in nature has grown five-fold over the past decade, where capital is being deployed, and how institutional participation has evolved. We discuss evidence that the repositioning of Timberland around natural capital is more than a branding exercise, with carbon and other natural capital revenues increasingly incorporated into forest investment strategies and underwriting. We also explore the growing sophistication of investors, why impact measurement and diligence can slow capital deployment, and the role of catalytic capital in building the next generation of nature investment opportunities.
"Deployed capital in 2025 exceeded $14 billion. And on top of that, we tracked more than ten times that $14 billion figure in publicly announced planned allocations for the next three years. So there is a lot of dry powder."
"When you look at the share of forestry deals that are layering carbon revenue or other natural capital revenue onto timber revenue, they have jumped from one in five deals five years ago to half of deals in the last couple of years.”
00:00 Introduction
01:09 Genevieve Bennett and Forest Trends
06:05 Who benefits from Ecosystem Marketplace's data?
08:35 Why private investment in nature matters now
13:39 Defining nature finance: the six categories
19:13 Report methodology and data sources
21:41 Private investment in nature grows fivefold
23:08 Which nature finance strategies are growing?
28:44 The impact of large transactions and institutional investors
31:57 Forestry investment: three case studies
34:39 How forestry's share of nature investment has changed
38:47 Is natural capital changing forestry underwriting?
45:34 Investor priorities, impact and due diligence
49:40 Where is nature investment heading?
50:41 Looking ahead to 2036
55:33 The role of catalytic capital
59:19 Advice for new forest investors
01:00:29 Where to find the report and learn more
01:01:13 Closing
Founding Director and Host: Shauna Matkovich - The ForestLink
Producer and Editor: Magdalena Laas - Unscripted Creatives
Nature by MaxKoMusic/Soundcloud
Sopwell Woodlands and Scohaboy Bog SAC, Cloughjordan, Co Tipperary, IRELAND by wild_rumpus/Soundcloud
Ambient Documentary by Sound Guru (Pixabay)
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