Societal impact report

Two-thirds into its implementation, NATURANCE is on track to achieve its intended societal, economic, and scientific impacts, while preparing the groundwork for lasting change in nature-based finance and climate resilience over the coming 3–6 years. The project explores the feasibility and effectiveness of financial instruments—nature-based insurance and investment solutions—with a focus on developing shared performance metrics, design principles, and transformative business and policy innovation cases. Community engagement has been a hallmark of the project, with strong participation in innovation festivals, workshops, and webinars, and over 100 contributions from knowledge networks (KNs). Two cohorts of innovation labs have been completed, producing a portfolio of six business cases for nature-based insurance and investment solutions. Analytical activities—including interviews, desk reviews, and surveys—have exceeded performance targets and provided a strong evidence base for decision-making. The project is making strategic contributions to standardisation and policy alignment. The development of a CEN Workshop Agreement (CWA) is underway to formalise shared metrics and design principles, and project outputs are increasingly referenced in international science-policy initiatives. Collaboration with other EU flagship projects supports the adoption of exploitable results in regional policy frameworks and their integration into EU monitoring and governance systems. There is emerging evidence of impact, including the incorporation of project concepts into regional demonstration projects and the mobilisation of partnerships with insurers and adaptation service providers. Contributing to the broader international and European policy landscape, NATURANCE is expected to support the launch of at least three large-scale insurance schemes and to establish a lasting community of practice around nature-based insurance and investment solutions. Its "Network of Networks" approach is a strategic means to ensure that project results will continue to influence policy, finance, and practice well beyond its lifespan.