Q2 2024

FEATURED

GPS Steering Committee Meeting

May 7-8, 2024

GPS held its follow up Steering Committee (SC) meeting virtually on May 7-8, 2024. The GPS SC discussed various agenda items and endorsed the 2023 Annual Report and Mid-Term Review Report and approved the proposed programming for the Mid-Term Review Reserve. This includes strengthening the analysis of natural capital linkages with gender, poverty, and social inclusion for selected existing grants, supporting three new Core Implementing Countries (CICS) (Kenya, Lao PDR, and Zambia), and enhancing support for Targeted Technical Assistance (TTA). Each country of the new CICs provides an opportunity to deepen the scope of the earlier work for building capacity and mainstreaming natural capital into policies and investment decisions. The TTAs will provide timely support for conducting robust economic and policy analysis on nature to inform World Bank engagements and investments. Additionally, the SC endorsed the proposal for new analytical work to understand the interaction between natural capital and issues of gender, poverty and social inclusion. This important study intends to review diverse and operationally relevant approaches for analyzing the nexus and suggest methods for integrated analysis of these factors with practical examples through selected case studies. This will contribute to further strengthening integrated analysis of these factors issues into GPS work on natural capital and sustainability. In addition, GPS is developing a business plan for the next phase to 2023 which will be discussed in the future SC meetings.

Past Events and Meetings:

Closing Meeting for the Turkish Environmental Labelling System project

2024 Natural Capital Symposium

Workshop on Measuring comprehensive wealth beyond GDP

Latest GPS Seminar Series:

The role of data and statistics in addressing Bangladesh’s environmental challenges

New Publications and blogs:

GPS Annual Report 2023

Natural Capital Young Leaders Prize honors Ngao Mubanga

GPS's Ngao Mubanga, a trailblazer in sustainable development, was among winners of the Inaugural Natural Capital Young Leaders Prize at the Natural Capital Symposium, held at Stanford University, USA (4-7 June 2024) In her acceptance speech, Ngao urged a reimagining of Africa's natural resources: “Imagine a world where Africa’s natural resources are not just seen as commodities to be exploited, but as avenues for innovation, job creation, and sustainable development” She highlighted how natural capital can redefine nations and expressed how this vision resonated deeply with her personal values. Mubanga dedicated the award to the collective efforts of the Natural Capital Accounting Community of Practice in Africa, recognizing their unwavering spirit and dedication. “This recognition is not just a personal milestone, but a testament to the collective spirit and dedication of the Natural Capital Accounting Community of Practice in Africa,” She said.

EVENTS

The latest strides in Türkiye's Environmental Labelling System

The Closing Meeting for the Turkish Environmental Labelling System project, supported by the World Bank's Global Program on Sustainability, took place on June 10, 2024. The project aimed to improve the environmental labeling criteria for key products to conserve Türkiye's natural resources. Key achievements include comprehensive assessments for aligning certain industrial activities with Türkiye's Environmental Label Regulation and incorporating Life Cycle Assessments. Recommendations and guidelines were developed to promote sustainable practices. The project also facilitated knowledge exchange and awareness through the Global Eco-labeling Network. These efforts, aligned with international standards like the EU Ecolabel and Nordic Swan, enhance Türkiye's ability to implement effective ecolabelling strategies, supporting its commitment to climate change initiatives and the European Green Deal.

GPS at the 2024 Natural Capital Symposium

The GPS team participated in the Natural Capital Symposium held at the Stanford University (June 4-7). The Natural Capital Symposium brought together over 400 participant from more than 45 countries and discussed mainstreaming natural capital and ecosystem-based approaches in governments and international financial institutions; advancing private sector financing for nature and biodiversity; the frontiers of urban nature and health; and the connections between equity, justice, and nature – among many other topics. The GPS Program Manager and team presented the program's work for technical assistance and scaling up natural capital selected countries including Ethiopia, Zambia and South Africa. The symposium underscored the growing global movement to integrate natural capital into sustainable development, aiming to create a future where both people and nature thrive. Learn more.

Workshop on Measuring Comprehensive Wealth beyond GDP

On May 15-16, 2024, the GPS team joined a workshop in Ottawa, Canada, organized by the International Development Research Center (IDRC) and the International Institute for Sustainable Development (IISD). The event, “Working with Countries to Measure Wealth and Move Beyond GDP,” focused on comprehensive wealth measurement, featuring case studies from Ethiopia, Trinidad and Tobago, and Indonesia. The GPS team shared insights on wealth measurement under the Changing Wealth of Nations (CWON) framework for estimating comprehensive wealth of countries and discussed "green metrics'' with participants and stakeholders in Canada. A brownbag seminar on GPS's work presented by the GPS program manager at IDRC generated significant interest, and subsequent meetings with IISD experts explored future collaboration and funding opportunities for a deep-dive Africa case study.

Embedding Ecosystem Services into Policy Training Program

GPS and the Biodiversity, Ecosystem, and Landscape initiative at the World Bank launched the Embedding Ecosystems Services into Policy (EESP) training program. The program aims to deliver tailored capacity-building to support policymakers and technical staff in governments to move beyond the initial landscape and ecosystems assessments to translate biophysical analyses into financial and economic feasibility and trade-off analyses that can inform policy development and planning processes. The EESP program held it's latest workshop in Kenya. The team worked in close collaboration with the government of Kenya to tailor the workshop to support the integration of ecosystem services approached into a new Bank project, Kenya-Water and Sanitation Services Project (KEWASIP). Find out more.

GPS Seminar Series

The GPS Seminar Series presents regular virtual events on the latest knowledge on how policy makers and the financial sector can integrate environmental sustainability considerations into decision making. Topics over the past couple of months have included:

Using Natural Capital Accounting (NCA) and the Investment Prioritization Tool (IPT) for designing landscape programs in Ethiopia

The role of data and statistics in addressing Bangladesh’s environmental challenges

Access all past seminars here

NEW GRANTS AND PROJECT PLANS

Unlocking Results-based Climate Finance for Upper Guinean Forests - Sierra Leone

Grand amount: US$ 75,000

The objective of this project is to support Sierra Leone combat deforestation and enhance climate resilience through Natural Capital Accounting (NCA), which will improve forest data, support sustainable management, and attract climate finance. The project will develop a climate finance roadmap and conduct readiness assessments by June 2025. It will create guidebooks and training modules for policymakers and practitioners. It will also publish forest ecosystem accounts and organize national dialogues and a climate/nature finance forum. Additionally, it will contribute to improving the standards for evaluating green projects. This analysis and evidence generated will contribute to improve forest management, increase climate finance readiness, and promote sustainable investments.

Armenia Integrated Resilient Landscape Improvement Project.

Grant amount: US$ 225,000

The project seeks to strengthen community engagement and improve the management of forests, pastures, wetlands, and protected areas in selected locations in Armenia. The economic and financial analysis for the project in Armenia will evaluate costs and benefits by biome area, focusing on improved vegetation and emissions reduction. The analysis will use regional proxies for less measurable impacts and calculate metrics like Net Value (NPV) and economic rates of return to reflect social and economic benefits. This information will guide investments and inform policies aligned with sustainable management and climate resilience goals outlines in Armenia's Country Partnership Framework (CPF) 2019-2023 and the government's 2021-2026 sustainable development program. It also aligns with the GEF-8s Strategic Positioning in biodiversity, climate change, and land degradation.

Sustainable Development Policy Loan for the Dominican Republic

Grant amount: US$ 75,000

The project aims to assist the Dominican Republic government in translating scientific studies on ecosystem valuation into actionable policies to combat coastal and marine ecosystem degradation. This technical support will enable the government to explore various regulatory approaches, including enforceable regulations, licensing, standards, fines, fees, and market-based solutions. These measures are designed to reflect the true environmental costs of ecosystem damage, promote sustainable practices, and mitigate the negative impacts of human activities. The project will guide investments and policies to address environmental challenges by enhancing pollution control through advanced infrastructure and technology, supporting sustainable tourism, and building community capacity for effective resource management. It will also focus on implementing robust pollution controls, improving biodiversity conservation, and advancing climate resilience and environmental justice. By providing critical scientific data for regulatory development, strengthening monitoring frameworks, and promoting sustainable management practices, the project plays a vital role in these efforts. Additionally, it aims to advance gender equality and social inclusion by addressing the disproportionate impacts of environmental degradation on women and marginalized communities, thereby improving their economic stability and reducing their exposure to pollutants.

NEW PUBLICATIONS

GPS Annual Report 2023

The Global Program on Sustainability aims to strengthen the production and use of quality data on natural capital and ecosystem services to inform government and financial market

decisions. The program focuses on the systemic market and institutional failures that prevent public and private sector decisions from reflecting nature’s contributions to economic development. The program’s design reflects the realization that adequately pricing natural capital and ecosystem services into decision-making requires transformative approaches to address data, information, and knowledge gaps at different levels and to create policies and incentives that stimulate investments in nature. This year’s annual report highlights GPS work and success in supporting countries to adequately price natural capital and ecosystem services into decision making. Learn more >>

ESG Integration at the Government Pension Fund of Thailand

With assets under management of over 1.2 trillion baht, the Government Pension Fund of

Thailand (GPF) aims to be the leader in ESG investing and initiatives in the country and

globally. As a universal owner, and signatory to the UN Principles of Responsible Investment,

we have a wider responsibility to support global action on sustainable development, and to

ensure that environmental, social, and governance (ESG) issues are properly integrated into all

of our investment decisions.