International Development Association (IDA) participants requested that the World Bank develop a methodology to identify, monitor, and track nature-positive World Bank investments in support of biodiversity and ecosystems services, in line with the increased support for nature in the IDA20 special focus on green, climate-friendly development. By developing a robust inputs-based approach for identifying nature positive finance within a broader nature finance umbrella, the methodology aims to capture contributions to nature and to the implementation of the Kunming-Montreal global biodiversity framework (KMGBF) in a systematic manner and in a way that is tailored to the development context. The technical approach entails screening projects after Board approval with a combination of a taxonomy and process-based approach. The new direction of the World Bank’s corporate results strategy emerging from the evolution process emphasizes a more outcome-oriented approach rather than input-based measures.

 

As part of this process, the World Bank is currently developing a new corporate scorecard to help track outcomes in line with its renewed vision and mission. Scorecard indicators will be also embedded in the global challenge programs, including on forests, nature, and biodiversity. Learning from the evolving approach to tracking climate finance, a shift towards outcomes-based tracking in nature finance is envisaged to measure impact better. Nevertheless, the methodology outlined in this note provides a feasible starting point to comprehensively identify the full breadth of the World Bank’s interventions, including critical efforts to mainstream nature across sectors, in support of the implementation of the KMGBF. Further guidance will need to be developed ahead of operationalization.