This is the second annual Natural Capital Survey, now supported by BNP Paribas Asset Management, Foresight Group and Rebalance Earth. The research captures the views of 68 UK institutional asset owners representing over £3tn, including defined benefit (DB) and defined contribution (DC) schemes, local government pension schemes (LGPS), insurers, charities and endowments. All responses came from large asset owners and were collected in October and November. We also surveyed six large European asset owners with over €182bn (£158bn).