Introduction to Nature Finance: Speaker Series With Harrison Carter On How Capital Meets Conservation

On Tuesday 28 October the Oxford Sustainable Finance Student Society (OSFSS) welcomed researcher Harrison Carter from Wildlife Conservation Research Unit (WildCRU) and the Interdisciplinary Centre for Conservation Science (ICCS) at the University of Oxford.

Financing Models for Nature

Harrison began his presentation by contextualising the financing gap for nature-positive outcomes. He described how conventional philanthropic channels are insufficient to meet biodiversity and ecosystem funding needs. He then introduced alternative models: debt instruments, nature-linked bonds, credit issuance and structured finance tailored for conservation.

Sustainable Financial Instruments & Direct vs Indirect Impact

In this section of the talk Harrison laid out key instruments: nature-credits (including carbon and biodiversity credits), future contracts, swap mechanisms and hedging tools designed to stabilise demand for those credits. He distinguished indirect impact (financing broader ecosystem risk reduction) from direct impact (funding biodiversity restoration or human-wildlife coexistence projects). He emphasised that structuring matters: without credible metrics and aligned incentives, instruments risk being cosmetic rather than transformational.

Emerging Research: Hedging Techniques & Market Creation

Harrison outlined his current research frontier: how hedging techniques (e.g., forward contracts for carbon/biodiversity credits) might underpin a dependable demand curve for nature-linked instruments. He flagged the challenge of market creation in nature finance: setting up futures, derivatives, insurance overlays, and ensuring that the demand side (investors, corporates) is robust and credible.

Community Translation: From Finance Jargon to Field Action

A key point was translation: how do we take the complex language of finance (“coupon triggers”, “coupon swaps”, “impact derivatives”) and make it meaningful for farmers, pastoralists, and conservation communities? Harrison argued that bottom-level participants must understand and trust the instrument, or the model fails. Communities must be active partners, not passive recipients.

The session closed with a thoughtful audience Q&A exploring how to balance ambition with accountability in conservation finance. Questions touched on the credibility of biodiversity credits, the practicality of outcome-based contracts, and the importance of aligning investor expectations with real ecological progress. Discussion continued informally afterward at the pub, where attendees and Harrison exchanged ideas on the future of sustainable finance and how students might contribute to this rapidly evolving field.

OSFSS thanks Harrison Carter for his insightful presentation and all attendees for joining the discussion. 

Look ahead — Week 4 event:

OSFSS is collaborating with the Oxford Energy Society, featuring Lucy Field (Manager at AFRY Management Consulting) who will speak on The European Low Carbon Investment Landscape and Why It’s Concerning.