Stacking, selling, stewarding: a practical guide to unlocking new income from land and nature.

Talk of “natural capital” has become increasingly common in landowner circles — from estate meetings and agricultural conferences to quiet conversations between neighbours. But while the headlines suggest a gold rush in carbon credits and biodiversity markets, the reality on the ground often feels more confusing than compelling.

For many landowners, the opportunity seems real — but the route forward is far from obvious. What exactly are you selling? Who’s buying it? What’s the risk of tying up land? And what does all this mean for the future of your estate?

This article offers a clear, practical guide to the natural capital opportunity — what it is, what’s holding people back, and how to make informed decisions that protect your land, your legacy and your bottom line.

What is natural capital — and why does it matter now?

In simple terms, natural capital refers to the value of natural assets like woodland, peatland, soil, rivers and hedgerows. These landscapes absorb carbon, support biodiversity, filter water and provide space for nature — all of which are increasingly seen as services with measurable economic value.

Governments, companies and investors are now paying attention. Some need to meet regulatory requirements (like biodiversity net gain or nutrient neutrality). Others want to reduce their carbon footprint or improve their environmental credentials. Either way, there’s growing demand for landowners who can deliver those nature-based outcomes — and be rewarded for doing so.

So what’s holding people back?

While the idea of being paid to protect or enhance nature is appealing, many landowners feel hesitant — and with good reason.

Here are the most common concerns:

“I don’t know where to start.” The language is technical, the schemes are varied, and the guidance is often vague.
“What if I lose control of the land?” There’s anxiety about locking up land for decades or restricting future use.
“Will this affect inheritance or tax planning?” It’s unclear how credits and agreements interact with long-term estate management.
“Who do I trust?” A growing number of brokers and intermediaries are entering the space, but not all are transparent about their terms.
“Will this really deliver meaningful income?” For some, the financial case still feels unproven.

These concerns are valid — but most of them can be addressed with good advice and a well-structured approach.

What can landowners actually sell?

There are several types of nature-based units or credits, each tied to a different kind of environmental benefit:

In many cases, you can **stack** multiple credits on the same piece of land — for example, a restored wetland might generate both carbon and biodiversity income.

Do I have to stop farming to do this?

Not necessarily. Some schemes require setting aside land, but many allow you to combine natural capital activity with low-impact grazing, cover cropping or agroforestry. It’s all about understanding what’s allowed — and what makes sense for your land.

"You don’t have to give up being a productive estate to be a nature-positive one."

How do I protect my long-term interests?

Before signing anything, it’s essential to ask the right questions:

Who owns the credit — you, the aggregator or the buyer?
What happens if the land changes use or ownership?
How long does the agreement last — and what are the penalties?
Are there any implications for tax, inheritance or subsidies?
What kind of monitoring or reporting will you be expected to do?

A good adviser will walk you through these risks — and help you structure deals that protect your flexibility and estate strategy.

Three common routes landowners are taking

Developing their own project
— Commissioning a natural capital assessment, designing a credit scheme and going direct to market.
Leasing natural capital rights
— Allowing an external party (such as a conservation group or broker) to run the scheme on your land in return for a fixed fee or profit share.
Joining an aggregator or landowner cluster
— Pooling land with neighbours to increase scale and share revenue from joint projects.

Each option has pros and cons — the key is to understand what you want to achieve before committing.

Start with strategy, not schemes

It’s tempting to start with what’s on offer — especially when brokers are knocking on the door. But the best landowners are starting instead with a clear strategy: What are the values, objectives and legacy of this land? How can natural capital complement what we already do — rather than distract from it?

Natural capital doesn’t have to be a bolt-on. Done well, it becomes part of a broader approach to land stewardship, diversification and long-term resilience.

Conclusion: There’s no rush — but there is a responsibility

You don’t need to leap into the first scheme that comes along. But you do need to start building knowledge and asking the right questions. The landscape is shifting fast — in policy, in markets and in public expectation.

Landowners who take a thoughtful, strategic approach now will be better placed to lead — not just follow — in this new chapter of land use and value.

Need a starting point? Strathem helps landowners explore the right opportunities, assess risks, and shape natural capital strategies that work for people, place and planet.

What’s Holding Landowners Back – and How to Navigate the Natural Capital Opportunity