Natural Capital

completed

This project will have two components: A. Natural Capital Accounting and Reporting Framework and Industry Guidelines This project will support the multi-stakeholder participatory process needed to develop an overall framework and guiding principles agreed by all key organizations involved. The process will take up to two years, it will involve consultation and outreach with key organizations and academic institutions, involvement of pilot industries, and technical discussions to agree on methods and approaches for the valuation different natural capital components. The overall framework will be complemented and expanded by industry-specific guides. B. Industry Implementation Projects The implementation projects will test the industry guidance and overall framework developed. These will also allow for IFC and the WB to compare national level natural capital accounts with company level information and reports; the WAVES global team and WAVES pilot countries will be involved in the analysis. For the companies, the projects will offer guidance related to options and approaches based upon particular motivations and business strategies. The companies involved will incorporate natural capital in their sustainability and corporate reports. The project will aim to engage brands and corporates that can serve as lighthouses for their industry.