World Benchmarking Alliance (WBA)

Project: Nature Benchmark – Accountability mechanism for the private sector’s most influential companies

Project Cluster: Data & Standards

Organization: World Benchmarking Alliance (WBA)

Project Implementation Location(s): Europe

Project Year: 2021 – 2023

Project Summary: The benchmark will initially assess and compare the performance of 500 keystone companies from different sectors and industries with a disproportionately large footprint on Nature and Biodiversity. It will consider the impact on land, oceans, and fresh water and their associated biodiversity. During phase 1 the initial methodology will be developed and be based on the framework underpinning the Science Based Targets for Nature (SBTN). 

Over time, the methodology is expected to evolve considerably as more SBTN targets become available and are translated into globally recognised reporting standards, most notably the voluntary standards (being) developed by the Reporting Value Foundation, GRI, CDP and TNFD and emerging mandatory regimes like IFRS and the European Sustainable Reporting Standard.