The Department of Regional NSW (DRNSW) plays a central role in regional development, focusing on strengthening regional economies, communities, and primary industries. Increasingly, there is recognition of the economic value of improving the management of natural capital management, at scales ranging from local farms to broader regional landscapes. NSW Government departments and Local Land Services are working on developing environmental accounts and investment plans to inform and attract public and private sector investments that help protect and enhance natural capital.

To support these efforts, the Department sought assistance to develop a robust preliminary business case for the proposed Natural Capital Program. NCC was tasked with preparing this business case in alignment with NSW Treasury guidelines, which included three phases: problem definition, testing concepts with stakeholders, and a preliminary business case phase – ultimately building a comprehensive business case that provides a foundation for future decision-making and investment.

This business case has helped guide the development of the National Capital Program by the Local Land Services, providing a foundation for mobilising further funding for natural capital initiatives from multiple public and private sector investors.