The Ecosystem Services Benchmark is based on a tried and tested benchmarking methodology that was developed by the UK-based asset manager Insight Investment and conservation NGO Fauna & Flora International for the oil and gas, mining and utilities sectors.
Based on established risk management practices such as ISO14001, the ESB draws from material including (but not limited to) the Global Reporting Initiative, Corporate Ecosystem Services Review, Roundtable on Sustainable Palm Oil (RSPO) Principles and Criteria, and the International Finance Corporation Performance Standard 6. Consultation with a number of parties underpinned its development:
- • Feedback received from a selection of companies evaluated within the Insight Investment extractive sector benchmark.
- • Two consultation workshops convened by the NVI – in the UK on 8th August 2007 and in Brazil on 3rd September 2007 – which brought together over 90 members of the finance sector, NGO community, and food, beverage and tobacco sectors.
- • Further consultation with industry leaders and NGOs through engagement with our multi-stakeholder steering committee.
The methodology was revised on the basis of this feedback and cross-referenced to other relevant initiatives. Following a further consultation with key stakeholders, the methodology was piloted on 31 companies in the food, beverage and tobacco sectors and adjusted to its current form.
The Ecosystem Services Benchmark has now been adjusted for application to the pharmaceutical sector and extractive industry (see the publications section of this website).
See ‘NVI Toolkit’ for the ESB methodology and associated guidance.