Nature Finance at Scale: Lessons from Europe’s Natural Capital Finance Facility

Nature Finance at Scale: Lessons from Europe’s Natural Capital Finance Facility

In this episode of Investing in Regeneration, Mónica Altamirano de Jong sits down with Stephen Hart, Principal Advisor for Nature and Water at the European Investment Bank (EIB), to explore the evolution of nature and climate adaptation finance in Europe. Drawing on his experience leading the Natural Capital Finance Facility (NCFF), Stephen reflects on more than a decade of experimentation in biodiversity finance, nature-based solutions, and water resilience investments. Together, they unpack what worked, what did not, and why financing nature requires much more than innovative financial instruments. From funding gaps and ecosystem services to nature credits, water resilience, and landscape-scale restoration, this conversation explores the structural changes needed to move nature finance from isolated success stories to mainstream investment. ▶️ Nature Finance at Scale: Lessons from Europe’s Natural Capital Finance Facility 00:00:00 Introduction to Investing in Regeneration 00:04:06 The Origins and Theory of Change Behind the NCFF 00:13:11 From Financial Engineering to Funding Fundamentals 00:18:05 Expanding the Scope of Nature Investments 00:22:28 Stephen’s Journey into Nature and Finance 00:28:42 How Nature and Adaptation Investments Are Sourced 00:37:16 Financing Nature: Lessons from the NCFF Structure 00:48:10 Building Revenue Models for Nature Restoration 00:50:51 Reducing Transaction Costs in Ecosystem Restoration 00:55:06 Measuring Success Beyond Financial Returns 01:00:16 The Limits of Traditional Banking for Nature 01:02:55 Balancing Nature Restoration, Climate Adaptation, and Human Needs 01:08:28 What Needs to Change to Finance Nature at Scale Notable Quote: “When we say we're investing in nature, you can say we're trying to, at the end of this, create biodiversity, create biological growth, or connectivity, but the investing level ultimately comes down to a social and economic level that lies on top of it. That is really where you can create things that were not there before.” - Stephen Hart Connect with Stephen: 📱 LinkedIn: https://linkedin.com/in/stephen-d-hart [https://linkedin.com/in/stephen-d-hart]  💻 Website: https://www.eib.org/en/stories/climate-change-biodiversity [https://www.eib.org/en/stories/climate-change-biodiversity] Connect with Mónica: 📱 LinkedIn: https://www.linkedin.com/in/altamiranomonicaa/ [https://www.linkedin.com/in/altamiranomonicaa/]  💻 Website: https://altamira-regen.com/ [https://altamira-regen.com/]  Produced by Ideablossoms [https://ideablossoms.com/]

Brazil’s Water & Sanitation Reform: Achieving Universal Access Through Governance & Investment

In this episode of Investing in Regeneration, Mónica Altamirano de Jong sits down with Ana Carolina Argolo, Director at Brazil’s National Water and Sanitation Agency (ANA), to explore one of the most ambitious institutional reforms in Latin America’s infrastructure sector: Brazil’s new water and sanitation framework. Together, they unpack how Brazil is moving from a fragmented and uncertain system toward a coordinated, investment-oriented model designed to achieve universal access to safe drinking water and sanitation by 2033. Ana explains how regulatory clarity, regional coordination, and long-term planning are helping unlock billions in private investment while strengthening public accountability, social inclusion, and environmental resilience.  From public-private collaboration to place-based investment blueprints, this episode reveals why water governance -by bringing all actors in right relationship with each other- is ultimately about building institutions capable of sustaining long-term resilience beyond political cycles.  ▶️ Brazil’s Water & Sanitation Reform: Building Universal Access Through Governance & Investment 00:00:00 Introduction to Investing in Regeneration 00:05:59 Brazil’s New Water & Sanitation Framework 00:09:18 The Role of the Private Sector in Universal Access 00:12:09 The Theory of Change Behind the Reform 00:15:08 Ana’s Journey into Water Governance 00:20:43 Coordinating Stakeholders Across the Investment Cycle 00:25:25 ANA’s Expanded Regulatory Mandate 00:30:44 Lessons Learned from Six Years of Reform 00:34:35 Financing Models, PPPs & Investment Structures 00:41:30 Water, Human Dignity & Economic Resilience 00:46:05 Standardizing Principles Without Homogenizing Realities 00:50:38 Beyond the Public vs Private Debate Notable Quote: “ Brazil is a continental country with very unequal realities, so implementing capacity is still uneven across the regions in Brazil. But what is also important is that the sector now has a clearer direction, a stronger institutional coordination, and long-term targets that are helping to align public and private actors around a common agenda.” - Ana Carolina Argolo Connect with Ana: 📱 LinkedIn: https://www.linkedin.com/in/ana-carolina-argolo/ [https://www.linkedin.com/in/ana-carolina-argolo/]  💻 Website: https://www.gov.br/ana/en [https://www.gov.br/ana/en]  Connect with Mónica: 📱 LinkedIn: https://www.linkedin.com/in/altamiranomonicaa/ [https://www.linkedin.com/in/altamiranomonicaa/]  💻 Website: https://altamira-regen.com/ [https://altamira-regen.com/]  Produced by Ideablossoms [https://ideablossoms.com/]

Clean Water and Empowered Participation: Scaling Regenerative Infrastructure Systems in the Amazon

In this episode of Investing in Regeneration, Mónica Altamirano de Jong is joined by Nancy Santullo, founder of Rainforest Flow, and Samuel Schwan, board president and philanthropist, to explore a powerful, place-based model delivering clean water, sanitation, and hygiene (WASH) services to indigenous communities in the Peruvian Amazon. What begins as access to clean water evolves into something much deeper: improved health, strengthened social cohesion, empowered communities, and healthy forest and freshwater ecosystems that ensue. Nancy and Samuel share how a community-driven, culturally integrated approach, built over 20+ years, has not only reduced disease dramatically but also fostered cooperation, local ownership, and long-term sustainability. ▶️ How Community-Driven WASH Systems Transform Health, Ecosystems & Social Cohesion 00:00:00 Introduction to Investing in Regeneration 00:04:06 The Rainforest Flow Model: Water, Sanitation & Community Ownership 00:09:32 Theory of Change and Paradigm Shifts 00:16:31 The Birth of Rainforest Flow 00:23:17 Samuel’s Journey: Emergency Response to Philanthropy 00:26:48 Designing Resilient, Adaptive Water Systems 00:33:17 Barriers to Scaling: Policy, Procurement & Investment 00:40:10 Funding: Philanthropy, Fees & Long-Term Sustainability 00:49:15 Climate Resilience and Portable Infrastructure Design 00:52:47 Participation, Ownership & Indigenous Leadership 00:59:19 Bottlenecks: Investment in Ecosystems vs. People 01:04:10 Lessons for Scaling Regenerative Infrastructure Notable Quotes: “Clean water is the entry point, but transformation is the outcome.” - Nancy Santullo “The results don't line up with what you're hoping for when you don't meet people where they're at, listen to them, and work with them throughout the entire process. I think that's the Rainforest Flow success model.” - Samuel Schwan Connect with Nancy & Samuel: 📱 LinkedIn: https://www.linkedin.com/in/nancysantullo/ [https://www.linkedin.com/in/nancysantullo/]   📱 LinkedIn: https://www.linkedin.com/in/samuel-schwan-b9753a338/ [https://www.linkedin.com/in/samuel-schwan-b9753a338/]  💻 Website: https://rainforestflow.org/ [https://rainforestflow.org/]  Connect with Mónica: 📱 LinkedIn: https://www.linkedin.com/in/altamiranomonicaa/ [https://www.linkedin.com/in/altamiranomonicaa/]  💻 Website: https://altamira-regen.com/ [https://altamira-regen.com/]  Produced by Ideablossoms [https://ideablossoms.com/]

The Role of Architects as Systems Thinkers and Conveners Bridging Communities, Ecosystems & Finance

In this episode of Investing in Regeneration, Mónica Altamirano de Jong sits down with Illya Azaroff—architect, educator, disaster responder, and President of the American Institute of Architects—to explore how regenerative design can transform the way we plan, finance, and build for a climate-challenged world. They explore the evolving role of architects as systems thinkers and conveners, capable of bridging communities, ecosystems, and finance. From indigenous knowledge to ecosystem services, from long-term trust to financial fear, this conversation reveals what it takes to move from sustainable projects to regenerative systems. ▶️ President of the American Institute of Architects: The Role of Architects as Systems Thinkers  and Conveners Bridging Communities, Ecosystems & Finance 00:00:00 Introduction to Investing in Regeneration 00:04:32 Architects as Systems Thinkers and Conveners 00:14:08 Personal Journey and Purpose 00:18:31 Investment Planning and  Urban Transformation Processes 00:29:22 From Planning to Implementation 00:37:50  How Do You Conceptualize and Measure Resilience Impacts?  00:44:32 Empowering Participation: The Key Role of Indigenous Communities 00:49:41 Regenerative Economies and Circular Systems 00:59:01 Where Breakthrough Is Needed Notable Quote: “The way that we're doing our work, the teams we're doing our work with, and the type of outcome that we are seeing come forward has never been built on this planet ever. That is what regenerative design is. You're seeing things that no one has ever done before.” - Illya Azaroff Connect with Illya: 📱 LinkedIn: https://www.linkedin.com/in/illya-azaroff-faia-3b11b08/ [https://www.linkedin.com/in/illya-azaroff-faia-3b11b08/]   💻 Website: https://www.aia.org/ [https://www.aia.org/]   Connect with Monica: 📱 LinkedIn: https://www.linkedin.com/in/altamiranomonicaa/ [https://www.linkedin.com/in/altamiranomonicaa/]  💻 Website: https://altamira-regen.com/ [https://altamira-regen.com/]  This episode was produced by Ideablossoms [https://ideablossoms.com/]

Investing in Climate Adaptation: How Private Equity Can Build Companies & Future-Proof Communities

Welcome to the Investing in Regeneration podcast with Mónica Altamirano de Jong. In each episode, Mónica will be going beyond theory and exploring a real initiative, fund, or investment through three lenses: understanding, planning, and financing.  In this episode, Mónica sits down with Valeria Ramundo Orlando, co-founder of Green Square Ventures, to explore the Equilibrium Climate Capital Fund. Valeria shares why climate adaptation is not just a risk mitigation strategy but one of the greatest investment opportunities of our time. Together, they explore how private equity can be used not to extract value, but to build companies, strengthen local economies, and future-proof communities. ▶️ Investing in Climate Adaptation: How Private Equity Can Build Companies & Future-Proof Communities 00:00:00 Introduction to Investing in Regeneration 00:03:50 The Equilibrium Climate Capital Fund 00:12:05 The Origin Story: From Data to Decision 00:20:26 The Role of Partnerships 00:32:17 Private Equity Over Credit 00:38:09 Competing with Global Capital Markets 00:42:25 Empowering Local Agency Through Investment 00:50:24 Balancing Local Context with Scalable Finance 00:59:24 Building a Fund That Must Succeed 01:01:38 Fixing the System with two magic wands Notable Quote from Episode 1: Investing in Climate Adaptation “We wanted to mainstream adaptation and resilience. We don't want it to be something that is challenging or hard to do. It needs to become something that every single company will build with resilient guidelines, with tools, with the technology that is needed to future proof all assets, infrastructure, and services.” - Valeria Ramundo Orlando Connect with Valeria: 📱 LinkedIn: https://www.linkedin.com/in/valeria-ramundo-orlando-1796053/ [https://www.linkedin.com/in/valeria-ramundo-orlando-1796053/]  💻 Website: https://greensquare-ventures.com/ [https://greensquare-ventures.com/]  Connect with Mónica 📱 LinkedIn: https://www.linkedin.com/in/altamiranomonicaa/ [https://www.linkedin.com/in/altamiranomonicaa/]  💻 Website: https://altamira-regen.com/ [https://altamira-regen.com/]  This episode was produced by Ideablossoms [https://ideablossoms.com/]