Rapid urbanisation and severe soil sealing have critically diminished natural rainwater infiltration capacities across European cities. In Italy, alternating periods of water scarcity and extreme rainfall have exposed profound systemic vulnerabilities, leaving most municipalities at risk of landslides, floods, avalanches, and coastal erosion. While Nature-based Solutions (NbS) and Sustainable Drainage Systems (SuDS) are globally recognised for mitigating these climate risks, water utilities, which serve as critical hybrid public-private entities, have historically favoured traditional, engineering-heavy "grey" infrastructure. This technical article explores the current implementation landscape and outlines actionable strategies for financial actors and policymakers to mainstream NbS investments.