The Nature Conservancy (TNC) was one of the largest conservation organizations in the world; its mission was to "to conserve the lands and waters on which all life depends." Over time, TNC had expanded its mission to include advocating for sustainable water-management practices, and its numerous water specialists had advised corporations, water ministries, legislatures, and many other organizations. TNC was constantly exploring new ways of advocating sustainable water use and weighing its options to engage new opportunities. Brian Richter, a veteran scientist for TNC who had led its water market strategy for the past few years, was convinced that water markets could be attractive for the market-friendly TNC. But he wondered how TNC could integrate water markets into its water strategy while staying true to its legacy and mission. This case includes an interview with TNC's Brian Richter about some of the tools TNC had at its disposal to realize its conservationist objectives.