Ethical Considerations

Natural Capital is committed to responsible investing, ensuring conservation delivers positive returns and genuine value for nature, local communities, and investors.

We recognise the complex history and ongoing ethical challenges within conservation finance – from greenwashing to green colonialism – and actively strive to set a higher standard across our project portfolio and partnerships. Our approach prioritises awareness, fairness, and respect for local contexts. We believe conservation succeeds only when the benefits of protecting natural assets are shared equitably and transparently among people, governments, and ecosystems.
Silhouette of Impala
We are implementing a range of activities that aim to strengthen ecological monitoring, community engagement, and adaptive management across the landscape. Natural Capital has played a key role in these processes to streamline data collection, improve monitoring effectiveness, and enhance evidence-based decision-making within the project.
Tafadzwa Matengo

Research and Monitoring Officer, MZCP

Two small trees in a flooded plain

Understanding Greenwashing

Greenwashing occurs when environmental claims are exaggerated or misleading, eroding trust and credibility in sustainability efforts. It undermines genuine progress and damages confidence in the sector. At Natural Capital, we counter this risk by prioritising impact grounded in data, evidence, and accountability and ensuring that this is communicated as such.

impact

Understanding Greenwashing

Greenwashing occurs when environmental claims are exaggerated or misleading, eroding trust and credibility in sustainability efforts. It undermines genuine progress and damages confidence in the sector. At Natural Capital, we counter this risk by prioritising impact grounded in data, evidence, and accountability and ensuring that this is communicated as such.

impact

GENUINE IMPACT VS GREENWASHING

Natural Capital delivers verified, data-driven impact — ensuring claims are substantiated by credible evidence, transparent methodologies, and robust measurement across ecological, social, and financial outcomes.

Transparency and accountability are embedded across the investment lifecycle, building trust and ensuring integrity endures over time.

Impact

Key Commitments

Independent Review

Key impact data are periodically validated through external or partner review to ensure credibility and accuracy.

Evidence-Based Metrics

Results are grounded in transparent methodologies and supported by traceable data.

Transparency

We communicate openly and honestly about methods, assumptions, and progress throughout the project lifecycle.

Long-Term Accountability

Outcomes are tracked over time to understand durability and inform adaptive management.

Lemur holding onto a tree branch

GREEN COLONIALISM

We recognise the complicated history of green colonialism and exploitation that has shaped parts of Africa’s conservation history. Imposing Western ideologies on indigenous peoples and local communities — in the name of protecting their natural resources — is misguided and often harmful to the very nature that is being protected.

To counter these legitimate concerns, Natural Capital embeds responsible project development systems, participatory design, and equitable business practices across all projects.  We ensure that value and revenue flows from the natural assets we protect are fair, sustainable, and transparent for all stakeholders.

GREEN COLONIALISM

We recognise the complicated history of green colonialism and exploitation that has shaped parts of Africa’s conservation history. Imposing Western ideologies on indigenous peoples and local communities — in the name of protecting their natural resources — is misguided and often harmful to the very nature that is being protected.

To counter these legitimate concerns, Natural Capital embeds responsible project development systems, participatory design, and equitable business practices across all projects.  We ensure that value and revenue flows from the natural assets we protect are fair, sustainable, and transparent for all stakeholders.

OUR NON-NEGOTIABLES 

Rooted in our core values, these standards uphold the integrity of our work and the wellbeing of people and nature alike.
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Environmental Stewardship

All projects commit to responsible resource use, sustainability practices, and continuous improvement in environmental performance.

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Living Wage

We ensure that every individual employed on projects managed by Natural Capital earns at least a local living wage, reinforcing our commitment to fair and ethical employment practices.

Diversity, Equity and Inclusion icon

Diversity, Equity & Inclusion

We foster inclusive workplaces and partnerships that reflect Africa’s diversity. A dedicated DEI Policy guides recruitment, retention, and advancement.

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Anti-Bribery & Corruption

We maintain zero tolerance for bribery or corruption, monetary or otherwise.

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Health & Safety

All teams are trained and equipped to work safely and responsibly across diverse environments.

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Community Citizenship

Projects act as responsible local citizens – paying taxes, sourcing locally, and ensuring communities benefit from conservation-linked revenue streams such as carbon or biodiversity credits.

Get in touch

Connect with us to explore collaboration, investment, and impact opportunities across Africa.
Contact

Theory
of change

Our theory of change aligns ecological restoration with inclusive local economic development and financial returns.

Goal

To safeguard critical wilderness areas in Africa that deliver long-term benefits for nature, people and sustainable economic development

01
Outcome 1:
Protecting & Restoring Nature

High-value ecosystems are secured, effectively managed, and resilient to climate change.

Output 1.1

High-value conservation landscapes are identified, secured, and established

Output 1.2

Conservation areas are effectively managed and ecologically restored

Output 1.3

Biodiversity, climate, and ecosystem health are monitored using robust science

02
Outcome 2:
Inclusive and Sustainable Development

Local communities experience equitable benefits, improved livelihoods, and active participation in conservation.

Output 2.1

Better jobs and diversified livelihood opportunities are created

Output 2.2

Individuals achieve higher levels of employment, fair wages, and economic stability

Output 2.3

Women and underrepresented groups are empowered and included in decision-making

03
Outcome 3:
Sustainable Finance for Nature

Conservation landscapes are supported by long-term, diversified, and scalable capital.

Output 3.1

Conservation projects are designed with the financial, legal, and ecological structures needed for investment

Output 3.2

Philanthropic, private, and public capital are mobilised and deployed at scale

Output 3.3

Sustainable revenue models ensure long-term financial resilience

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