The Institutional Investment Case for Natural Capital

Winter 2026

This Green Print is ambitious on purpose. Audacious on purpose. Not because these words are fashionable, but because as a market-maker in natural capital, we no longer have the luxury of playing safe and small. Ambition and audacity are responsibilities we now carry on behalf of the sector. For far too long, the environment sector has tiptoed around ambition, afraid to speak in the language of scale, speed, capital, or confidence. That era is over. We are here to transform what is possible for people and the planet.

We will not achieve everything listed in this document. Of course, we will not. But every year since we began, we have achieved more than anyone thought possible. We have repeatedly proven that when you aim at the stars and miss, you land on mountain tops. Beautiful, rugged, wild mountains that reshape the view for everyone who comes after us – and often we stay for a wild swim!

This Green Print is also designed to do something else that matters deeply to us: to clearly demonstrate the value creation and scalability embedded across every part of the Oxygen ecosystem. Our business is not a single engine, but a system of interconnected electric motors. Some will accelerate faster than others. Some will mature earlier. Some will deliver returns, impact, and momentum at different speeds. That is not a weakness. It is a feature.

Diversification does not mean distraction. We are not about unintended complexity; we are about deliberate optionality. If parts of the ecosystem want to stand alone, scale independently, be accelerated or in the future spun out, we are structurally ready. And if the right opportunities demand it, we just might build something entirely new.

What matters is that, whilst different moonshots are being tested and refined at different speeds, every part of the Oxygen ecosystem continues to push relentlessly in the same direction. Land, natural capital, property, energy, people, brand, partnerships, data, and operations are all compounding together. Each reinforces the other. Each makes the whole stronger, more resilient, and more scalable.

This is how we build a platform capable of delivering the environmental and social impact the world urgently needs – and in doing so, raise the bar for investability and institutional credibility.

So, please read this document in the context and spirit it is intended.

Be interested. Be inspired. Be energised. Or be totally sceptical if you must. I don’t mind which.

What matters is that you are not bored or indifferent.

We have already changed what it means to be a natural capital company. We have shown that conservation can be fast, investable, operational, data-driven, commercially rigorous, and wildly imaginative all at once.

And you are going to be amazed by what we do next.

Welcome to the 2026 Green Print.

This is not a plan. This is the ignition sequence.