50 Investible Opportunities for a New Nature Economy Supplementary Appendix 2026

25 Food reformulation refers to the process of altering the composition of food products to enhance their nutritional value, reduce environmental impact, or improve sustainability – Reduced agricultural land demand : Reformulation often replaces animal - based or resource intensive ingredients with, plant - based or sustainable options which also give biodiversity benefits. – Favours high - yield crops: Reformulation can favour high - yield and water efficient ingredients with reduced fertilizer needs. Archetype Scalable Nature impact Transformative impact Suitability of financing and de - risking instruments Technological/ process maturity Capital intensity Scalability Bonds Loans Equity Other De - risking Commercial bonds Thematic bonds Sustainability - linked bonds Impact bonds Commercial loans Thematic loans / project finance Sustainability - linked loans Impact loans Commercial equity Private equity Venture capital Impact equity Blended finance Insurance Advanced market commitments Legend: Low High Low suitability High suitability Payments for ecosystem services Land ecosystem Ocean ecosystem Freshwater use Resource use Pollution Co - benefits Climate Social ✓ ✓ – Established industry practices : Reformulation is standard practice within the food industry to improve health and sustainability. Ongoing innovations are mostly focused on improving consumer acceptance, such as taste and texture parity. – Financing suitability characteristics: I ngredient manufacturers typically require early - stage financing to support research and development, product testing and market entry, which would suit equity instruments. Firms typically have moderate upfront capital investment needs but significant operational expenditure to scale and reduce unit costs. Sustainability - linked or blended finance instruments can be aligned with environmental and nutritional performance targets. Advanced market commitments can provide product demand certainty and insurance necessary for product liability (e.g. allergens, illness).– Financial impacts : Revenue potential from new product lines appealing to health and sustainability conscious consumers. Requires moderate upfront investment in R&D and production and short - run operating expenditure, which should reduce due to sustainable inputs. Negative impact Positive impact Financing target Ingredient manufacturers Agri, Food & Forestry Chemicals, Plastics & Pharma Construction Materials Energy Mining Technology Transportation & Logistics Cross - sectoral Automotive Fashion & Textiles Leisure Waste Management Metals & Steel Conditions Achieves nutritional and sustainability parity, at a minimum Financial impact Revenue increase✓ Opex reduction – Capex reduction – Food reformulation FINANCING THE NATURE - POSITIVE TRANSITION