This second edition of the State of Finance for Nature (SFN) 2022 report i) expands analysis of capital flows to include marine nature-based solutions; ii) estimates the investment in NbS needed to limit climate change to below 1.5°C (in addition to the 2°C target), given the enormous impact this has on nature and people; iii) quantifies public nature-negative capital flows to put into context capital flows to NbS; and iv) estimates the benefits of investing in NbS to demonstrate to politicians, business and finance leaders that nature is a large part of the solution to global crises.