Governments have a significant role in creating an enabling environment for a capitals approach and safeguarding biodiversity. By facilitating a dialogue, governments from around the world can share best practices strengthen their enabling role. This paper explains what natural capital is, why it is relevant for biodiversity policy, and how it can help to achieve the global goal to be carbon neutral, nature positive and equitable. It is written to inform leaders, policymakers and decision-makers that are negotiating a new deal for nature and people in the context of the 15th Conference of the Parties to the Convention of Biological Diversity (COP 15 CBD) and the 26th Conference of the Parties on Climate Change. It aims to demonstrate how natural capital approaches can help to mainstream biodiversity into all decisions taken by business, financial institutions and the whole of government. The examples of government actions that are presented throughout the document show that natural capital is a proven strategic lens to integrate the value of nature in social and economic decisions for a more sustainable and just world.