NbS Triple Win Toolkit: Economics and Finance 90 Technical assistance: Capacity building on the project developer level can help ensure that projects meet investors’ financial and impact objectives, thus increasing the number of investable projects. Technical assistance facilities (TAFs) are capacity solutions aimedat providing grants, training and advice to potential investeesto strengthen their operational and financial capacity to deliverimpact and decrease projects’ commercial and environmental,social and governance risks131,140. The AGRI3 Fund was created to mobilize private funds for forest protection and sustainable agriculture. Next to its financial vehicle aimed at attracting private capital, the fund uses grants by public donors to provide technical assistance to food value chain actors through a TAF. The TAF strengthens a project developers’ capacityto maximize and monitor their environmental and social impactwhile reducing project risk131. Adoption of standard methods and metrics: The development of standardized approaches and metrics to measure the impact and financial performance of NbS will be indispensable to mainstreaming investments in NbS, and in creating replicable financial products. The building of an evidence base and sharing of data across stakeholders is necessary to inform the development of standardized guidelines and measurement frameworks131,142. By way of example, the Coalition for Private Investment in Conservation (CPIC) developed a series of investment ‘blueprints’ to guide the replication of model financial transaction structures in conservation142. The Financial Models B, C and D displayed in this Toolkit illustrate examples that advance an NbS using clear financial (fixed income) products and pre-defined metrics, KPIs and verified standards. The clear conditions, data and predictability that support these products are sufficient for institutional investors to make afavourable risk/return assessment and investment decision. Political and legal solutions Policy and regulatory reform: International and national organisations that regulate investment practices can reform laws and regulations to better enable NbS investments. Actions to achieve this include reforming harmful agricultural subsidies, modifying current legal restrictions on investments in public held assets and requiring financial institutes to incorporate and report on nature-related risks49,51,131,132. • To facilitate the latter, an international working group of public and private entities called the Taskforce on Nature-related Financial Disclosures (TNFD) was launched in June 2021, and is workingon delivering a reporting framework that includes nature-relatedrisks by 2023.132 Adjusting the processes by which public procurement decisions are made: NbS can be integrated into national and subnational government planning processes so that they are placed on a level playing field with their ‘grey’ alternatives. Ministries responsible for planning, financing, and implementing infrastructure projects require sufficient capacity and technical know-how to routinely evaluate NbS as a procurement option, and prompt downstream actors (e.g. project developers) to win contracts and deliver projects that are in line with green policies – thereby increasing the overall NbS uptake126,139,143.