In this episode, Tamsin Ballard, Chief Investor Initiatives Officer at the PRI, is joined by Oshadee Siyaguna, Head of Stewardship at J.O. Hambro Capital Management and Regnan, to explore early progress and lessons from collaborative investor action on nature.

Drawing on insights from the inaugural Spring progress report, they examine how investors are beginning to address financially material nature and biodiversity risks, what effective engagement looks like in practice, and why collaboration is critical in tackling complex, system-level challenges.

Overview:

Investor action on nature is gaining momentum. With over 240 investors representing more than US $19 trillion in AUM endorsing Spring, engagement is scaling across sectors and geographies.

Early progress shows companies are starting to assess nature-related risks and dependencies, while investors are building shared frameworks, tools and approaches. However, real-world outcomes remain limited, highlighting the gap between engagement activity and measurable environmental impact.

Detailed Coverage:

Nature as a financial risk
Companies are increasingly recognising nature and biodiversity as financially material risks. However, these risks often remain externalities unless supported by regulation or clear policy signals.

Why nature is different from climate
Unlike climate, which centres on carbon as a measurable metric, nature is more complex and harder to quantify, requiring a broader, systems-level approach rather than single metrics or pricing mechanisms.

The role of collaboration
Spring enables investors to pool expertise, share resources and deliver more consistent messaging. This collective approach helps tackle issues that are difficult to address through bilateral engagement alone.

Key lessons from engagement
Investors are learning the importance of pragmatism, pacing and consistency. Companies need time to build internal capacity, and overly rapid demands risk superficial, compliance-led responses.

Gaps and challenges
Progress is strongest in operational and supply chain practices, but gaps remain in responsible political engagement, data availability and regulatory clarity.

Systems thinking and resilience
A central theme is the need to view nature as part of a broader system. Long-term investment outcomes depend on resilient environmental, social and economic systems.

What needs to happen next
Priorities include building capacity across investors and companies, improving data and tracking, strengthening regulatory frameworks, and developing more robust conceptual approaches to nature stewardship.

A call to action for investors
Investors are encouraged to engage, contribute and collaborate. Flexible participation models mean there are multiple ways to get involved and drive progress.

Chapters:

00:07 – Introduction and Spring progress overview
02:12 – Early momentum and investor participation
03:19 – Why nature stewardship needed a new approach
05:35 – Nature vs climate: complexity and measurement challenges
08:25 – Lessons from the first 18 months
11:14 – Making nature risks financially material
17:20 – Signs of progress and remaining gaps
19:59 – Why collaboration matters more than ever
26:17 – What needs to happen next
31:52 – Final reflections: investor responsibility

Disclaimer:

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