PROGRESS AT THE PACE THE PLANET NEEDS IT.

CONTENTSThe Case for Change 06

The Beginning of Our Journey 18

Our Value Proposition 20

A New Company Structure 28

Evidence of Appetite 30

Our Methodology 34

The Pilot Programmes 40

Introducing the Team 44

The Impact Potential 52

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What you are about to read is the culmination of 4 years of

proven track record, decades of experience and centuries

worth of planetary damage, to create the most inevitable

business case industry has ever seen.

We are up against one of the most critical time windows

humanity have ever faced. Unless radical step changes are

achieved in way we produce and consume on this planet, we

are heading for the next great extinction.

These next years leading up to 2030 are critical in stabilising

these dangerous trajectories. It is a time for commitments to

become action and for action to become bold industrial scale

change to turn this super tanker around.

Project X was designed for exactly this type of progress –

progress at the pace the planet needs it.

This is why our vision is bold. 10 industries value chains in

10 years is no mean feat. However, nor is the challenge that

faces us.

Project X is built on a tried and tested model now deployed

in two multi-national organisations. The programme has

been incubated for 18 months to extend it from a model to

service single companies and their value chains to one that

can support industries and is now emerging out of WWF-UK,

ready for action. While this time was well spent extensively

peer reviewing and market testing this model, there is no

proof like actually delivering and we know it.

This is not a well-trodden path. We know the years ahead will

be fraught with steep learning curves, seemingly intractable

set-backs and endless destroy and rebuild moments.

This is why we need the right people around us. Likely

and unlikely allies. People who are prepared to think big,

experiment boldly, build and learn as we go.

What will unite us in this time is the vision.

We welcome you to join us.

HELLO AND WELCOME TO PROJECT X

WWF has identified Markets and Finance as key areas of

programmatic focus to reflect the new global consensus

that all actors in all sectors need to work together to

achieve the Sustainable Development Goals.

Environmental risks and opportunities are becoming

increasingly important to corporate and financial decision-

making, and a business-as-usual approach is no longer

enough to ensure a sustainable future for people and

nature.

At WWF we recognise the role of innovation to address

these challenges at scale and aims to support and

encourage new business models, technologies and

solutions. In order to address the scale of the challenges

we face today, we need to build programmes that think and

operate at the same scale to address them.

We believe Project X has a bold new approach worth

testing in pursuit of the acceleration of our goals and as

such we look forward to supporting the programme as it

builds, tests and evolves over the coming years.

Margaret Kuhlow Practice Leader Markets WWF International

Kavita Prakash-ManiPractice Leader Markets WWF International

Marcela NavarroCo-FounderProject X

Kate WolfendenCo-FounderProject X

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THE CASE FOR

CHANGE

THE THREATS

We are living in a time of unprecedented risk but also opportunity for the future of our planet and our society. Since the early 1970s, humanity has been consuming more than our planet can sustainably provide. If current population and consumption trends continue then, by 2030, we will need the equivalent of two planets to provide the natural resources and services humanity depends upon.

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Exceeding our planet’s capacity to such a degree is possible only in the short term. We are depleting natural capital - the critical systems and resources such as climate, biodiversity, water, soils and minerals, that support human life.

These next 13 years leading up to 2030 are critical for the sustainable development and climate agenda. It is in this brief window of time that real action to stabilise these trends must be achieved. Progress is being made, but by no means enough.

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Across the world, key industry actors are responding to these needs with clear, time bound objectives – the 17 sustainable development goals; the 216 companies who have signed up to Science Based Targets initiatives; the 194 governments who have signed up to the Accord De Paris and the 633 cities have signed up to the compact of mayors, are some examples.

The financial commitment associated with delivering on these goals was estimated by the World Bank to be over $90 trillion. Here, too, we can see the world responding. In 2012 the total value of the green bonds market was less than $4b1; in 2016 it is valued at $694b2; and while we watch political leaders renege on global commitments, we can find solace in leaders like Bill Gates launch of the $1b3 clean energy innovation fund to continue to drive this agenda forward.

1 - https://www.forbes.com/sites/mikescott/2014/07/17/climate-bonds-market-comes-of-age-as-investors-buy-in-to-green-finance/#77bf28f49ac9

2 - https://www.climatebonds.net/files/files/reports/cbi-hsbc-state-of-the-market-2016.pdf

3 - https://qz.com/859860/bill-gates-is-leading-a-new-1-billion-fund-focused-on-combatting-climate-change-through-innovation/

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To date, the buzz words for action on climate change have

been policy and innovation. However, in a world where leaders

can roll back global commitments overnight, key industry actors

need to stand and take action on their own. Likewise in the

field of innovation, much attention is placed on the ‘next big

idea’; the exponential technology to solve our problems. While

endless attention is poured onto the next stage of ideation

of innovations, very little, if any attention at all, is paid to the

companies, governments and cities that need to adopt these

solutions for them to reach scale.

This is the stalemate we see - Too many innovations, not

enough access to markets. A stagnation in the market where

the innovators struggle to build trust and get first orders in to

unlock funding to scale, and where the companies do not seem

either convinced, or ready to procure at scale due to volume

limitations, perceived performance risks and inadequate price

points of these innovations. The result is industry stagnation.

How do we, as companies, industries, cities and governments

take the bold steps required on a practical level.

How do we, as investors, find the volume of deal flow

at the risk profile we need to release this capital into

the market.

And perhaps most importantly, how do we do this at the

same time as moving away from the company by company

or stakeholder by stakeholder approach and shift it to a

meaningful coordinated action, at an industry level.

IT IS CLEAR THAT THE WORLD IS READY TO TAKE ACTION. WHAT IT IS MISSING IS THE HOW

LIMITED ACCESS TO MARKETS: BRIDGING THE ADOPTION GAP

While significant funds can be found at either end of the value

chain of innovation - To seed, stabilise and bring a concept to

market readiness at one end, and to provide scale-up capital at

the other - it is a long understood truth that between these two

healthy investment landscapes there is a valley of death

for innovators and SMEs wishing to scale.

This again relates back to the same scale-up stalemate.

Financiers will only invest at the right risk profile,

and companies, who carry the key to unlocking this access

to capital by placing orders, will not do so until the SMEs

are at the right price point and capacity to meet their needs.

A tidal wave of new initiatives have emerged to address these

global needs; from new challenge competitions, to company

innovation initiatives, through to scale up funds for specific

challenges. This marks fantastic progress, but at the same time

presents its own fundamental challenge: Chaos.

While the world is talking about the value chain innovation, no

one is looking at the value chain of innovation itself; no one is

attempting to rise above the fragmentations and siloes to mark

a clear pathway for the key companies, cities and governments

to adopt these solutions at scale. Instead the world is just

applying more pressure for action and continues to provide

more early stage solutions at their door.

Time and time again, we hear from these organisations

that they don’t know where to start or how to navigate the

sustainability space effectively; and the truth is that without

making this as easy as possible for these key actors to make

the change, priorities will take over and the pace of progress

will slip.

LIMITED ACCESS TO A RISK MITIGATED PIPELINE OF INVESTMENTS

LACK OF CLEAR END-TO-END INNOVATION PATHWAY TO SCALE

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We work with innovators, companies and investors – from early-stage venture capital through to

institutional investors - to radically transform the sustainability performance of 10 industry value

chains most responsible for biodiversity decline and climate change impacts, over the next 10

years.

Project X builds upon 50+ years of WWF expertise of working with major multinationals to deliver

conservation impacts on the ground, together with he long standing relationships and trust

capital this brings - and pairs these assets with a tried and tested programme, designed by one

of the Project X co-founders, to help risk adverse companies to adopt sustainable innovations

into their value chains.

While the model has many moving parts, the premise is simple: Project X creates industry

level market pull, instead of innovator, accelerator and financier driven market push.

PROJECT X IS WWF’S MARKET BASED RESPONSE TO THESE FUNDAMENTAL MARKET FAILURES THE VISION

Radically transform 10 industry value chains in 10 years, reaching critical mass for adoption of these new solutions in industry (largely accepted in economic theory as 10%)

Mobilise $10b of additional investment into the adoption of sustainable innovations globally

Project X is a WWF-backed corporate adoption accelerator that enables entire industries to make difficult transitions in their sustainability agenda.

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Project X was supported by WWF-UK, the People’s Postcode Lottery and WWF-NL for the last year to fully design, build and market test the model. The response was overwhelming positive.

We are now absolutely clear that this programme has hit upon a real market need - a market pull need - and that Project X is a much wanted programme to support that.

Building on our previous experiences in innovative global programmes and new ventures, we have defined

the following structuring and roll out plans:

WHERE ARE WE NOW AND WHAT’S NEXT?

Project X now has two industry programmes in the pipeline; one focusing on Feed Security

(Feed-X) and one focusing on Climate Smart Health Systems (GAVI-X). More industries

and companies are asking to be considered.

• The Feed-X programme is ready to start and has an estimated £2.6m performance

based contract secured against it.

• The GAVI-X programme is about to enter into programme design phase with a

pledge of £1m match funding. These programmes have in turn attracted interest from

a financier community comprising commercial banks and VCs and also a retailers

consortium to comprise the leading supermarkets and buyers, globally.

• Set up WWF/Ltd straddling company

• Lead 2 trial programmes to evidence in public and private sector procurement

• Business Development for 10 in 10 industries and enabling assets.

• Industries mapped to leading science and the WWF Living Planet Report being released in 2018 for global priorities for Biodiversity & Climate Health

• Not the usual sustainability partners; heavy industrial and highest impact potential partners only.

• One programme launched per year at Davos

• Results at SDG week 2030; Final programme completes 2031

2017 - 2020

INITIATE & STABILISE 10 INDUSTRIES IN 10 YEARS

2020 - 2030

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We are at the beginning of our journey towards real sustainability in the top 10 industries most responsible for biodiversity decline and climate change impacts. We invite you to join us.

In order to launch Project X and bring it to a self-sustaining programme in time for 2020, we need to raise

£3m. This seed money will kick start our journey towards transforming 10 global industry value chains (plus 2

industries in the initiation and stabilisation phase), and will mobilise circa £10bn plus of additional investment

into sustainable innovations, globally.

We are kick starting this transformation with two strong pilots in the now,

whilst continuing to focus our attention to 2020 and beyond.THE BEGINNING

OF OUR JOURNEY

2017

2018

2019

2020

2021

2022

2023

2024

2025

2026

2027

2028

2029

2030

2031

2032

INITIATION & STABILISATION

MAP & RECRUIT

ROLL OUT

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OUR VALUE PROPOSITION

PROJECT X IS A WWF-BACKED CORPORATE ACCELERATOR THAT ENABLES ENTIRE INDUSTRIES TO MAKE DIFFICULT TRANSITIONS IN THEIR SUSTAINABILITY AGENDA, TOGETHER.

Our programmes provide the critically important market pull, simplifying the

adoption of sustainable innovations at scale, at industry level, promoting the

commercialisation of market ready innovations and accelerating impact at the

pace the planet needs it.

At Project X we believe that there is no impact without scale and that there is no scale without unlocking corporate procurement. By convening and securing market commitment in advance, Project X enables a sequence based approach to sourcing, financing and scaling the next generation of sustainable innovations into multi-national value chains.

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Industries continue to face immense challenges to remain productive whilst addressing key sustainability needs, making it inevitable that they must focus on alternative strategies and innovation to achieve this.

Although innovation platforms seem to be growing in prominence amongst established and large-scale businesses, they are aimed at fostering ideas rather than ready-for-market innovations. There is a space for Project X to tackle the adoption gap and effectively help industries, companies and systems to accelerate the adoption of sustainable innovations without compromising key resources.

Project X is built on the fundamental understanding that we don’t ask anyone to do anything they don’t already do – It works with all key stakeholders on their business as usual activities and enhances their performance as a direct result of being involved in the programme.

KEY BENEFITS

LEAD AND PARTICIPANT COMPANIES Facilitated adoption of sustainable innovations at the right risk, cost and volumes required

INNOVATORS

PLANET

WHAT IS 10-IN-10?

Facilitated access to otherwise inaccessible markets and finance

Radical reduction in environmental impacts caused by industry

Our Vision:

To Radically

Transforming

10 industry value

chains in 10 years.

FINANCIERSAccess to a risk mitigated pipeline of sustainable investments

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LEAD AND PARTICIPANT COMPANIES

Facilitated adoption of sustainable innovations at the right risk, cost and volumes required

• Address major business and operational challenges whilst embedding environmental innovation into their value chain, at pace

• Accelerate the adoption at scale of breakthrough innovations in the company’s value chain

• Keep a finger on the pulse on emerging technologies without compromising company resources

• Work along-side experienced practitioners and subject matter experts, increasing quality of inputs, minimising deployment risk and maximising impact potential, at pace

• Position brand as innovative industry leader in sustainability

• Associate with global WWF backed industry accelerator

INNOVATORS FINANCIERS

Project X 100 members will have access to a risk mitigated pipeline of sustainable investments

• The opportunity to contribute to research areas relevant to their business interest and priorities and will help inform the market opportunity for sustainable sourcing categories

• The first right of refusal for all investment opportunities within Project X and access to highly convertible scale-up pipeline of sustainable market – ready innovations

• The opportunity to maximise both economic and environmental returns in line with business as usual risk appetite

• Access to accelerated ROI potential of investment opportunities passing through programme

• Association with global WWF backed industry accelerator

.

PLANET

Radical reduction in environmental impacts caused by industry

• Radically reduce the demand drivers for key resource

contrained commodities, globally

• Radically reduce the demand drivers for key resource contrained commodities, globally

• Global recognition of the environmental impacts of key industry value chains

• Global consensus, momentum and direction of what the most viable alternative sustainable solutions are moving forward

• Accelerated adoption of these solutions into industry to preserve and conserve the planet

• Accelerate adoption of these solutions into industry

(to preserve and conserve the planet)

Work with world’s leading companies to implement and validate pioneering environmental solutions in a large operational environment

• Obtain powerful validation of their innovation from highly credible leading organisations, increasing awareness and potential future opportunities

• Access to leading corporate environment and procurement opportunites to test and scale sustainable market-ready innovations in corporate value chains

• Access to scale up finance with Project X Finance Community otherwise not easily accessible

• Global recognition as an industry leading sustainability solution

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PROJECT X VALUES

Project X is a values driven business and we are fortunate to be able to build an organisation whose culture aligns with our personal values. Carefully balancing people, planet and profit is central to everything we do.

WH

Y U

S?01.

04.

02.

05.

03.

06.

Project X is the first initiative of its kind to focus on the adoption of sustainable innovations into corporate, industries, city and public sector value chains.

Project X is built on a tried and tested model that has already been deployed in two major multinationals: RBS, a FTSE350 international commercial bank and Cummins, a Fortune 500 engineering firm. The founder of this programme is Co-Founder of Project X.

Project X was designed and built by the world’s leading conservation organisation building upon 50+ years of experience working with major multinationals to deliver conservations impacts on the ground.

Project X has formed an extensive and relevant network over the last year in support of this initiative.

Project X is the only end to end support service known in the world to support companies from effective value chain problem definition to implementation of the solutions at scale.

Project X is the lowest risk option available to deliver this programme that the market has clearly stated it needs.

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A NEW COMPANY

STRUCTURE

With Project X, WWF is testing a whole new approach to develop new and agile programmes to work on behalf of the organisation. In the past, many programmes have either remained inside WWF and adhered to the usual NGO processes and procedures, with potential time implications, or exited to become a fully independent entity. With Project X, we plan to try something different.

• Project X will embed itself into the global markets and finance strategies for WWF

as a value chain transformation tool available to current and future programmes

and relationships.

• Project X and WWF will also launch the 10 industries in 10 years industry report in

2018 and where relevant partner on the programmes WWF has the right expertise

and networks to do so.

• In order to enable Project X to move at pace with industry, Project X will form an

independent limited company outside of WWF that all programmatic activities will

be delivered through.

• The company will become a Bcorp and should Project X be in profit it will provide

an appropriate and affordable donation to WWF for on-going conservation work or

other priorities.

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EVIDENCEOF

APPETITE

During this time we had two key goals;

- Finalise the the design and build of the model, then test the need and appetite from the market.

- Identify a sector and technology cluster and recruit industry leaders prepared to test this model.

LEAD ORGANISATIONS

During this incubation phase, Project X

achieved the following results:

• Commitment from 35% of the salmon

feed industry globally to lead the

Feed-X programme; representing

$2.2b of purchasing power.

FUNDING COMMUNITY

Project X is forming a pre-engaged

financier community.

• To date, 14 commercial banks and 16

Venture Capital firms, have expressed

an interest in joining the community.

• We are currently in the process of

formalising these relationships ready

for launch.

Two pilot projects ready to start

• Feed- X: Removing the barriers for sustainably fed affordable food with a focus on feed

• Gavi – X: Addressing the climate health gap in the vaccine value chain (See details page 40-42)

MARKET PULL INTEREST

Thanks to proactive contact from many of

the food retailers in the UK, Project X has

formalised a Retail Consortium community

to effectively engage these retailers in

the model. We have strong interest from

an international retailer to lead this with

Project X and invite the global retail

community to join us. This will be public

knowledge, when possible.

IN 2016, PROJECT X RECEIVED VITAL HOSTING AND FINANCIAL KICK OFF SUPPORT FROM WWF-UK, WWF-NL AND THE PEOPLE’S POST CODE LOTTERY, IN ORDER TO UNDERGO A YEAR LONG INCUBATION PERIOD.

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ADPLionel Bodins, Senior Manager at Accenture Development Partnerships

“WWF-X integrates cutting-edge initiatives based on WWF’s insight into the effect

of environmental challenges. Drawing on the vast capabilities of major corporations

and the rapidly evolving world of innovative finance, WWF-X has the potential of

being a game-changer for a more sustainable world.”

“Project x works with industry value chains to extract environmental efficiencies that are both in the corporate and common

interest, but which are often overlooked and/or require outsiders to identify the solutions. Gavi seeks this kind of expertise

in order to identify, curate and accelerate solutions both to impact positively on Gavi’s outcomes in coverage and equity,

while doing so in the common interest by reducing negative planetary impact”

“Sustainable vaccine supply chains are a vital part of building strong health systems, so that children,

parents and communities have access to life-saving vaccines, when they need them. WWF-X expertise in

environmental innovation will help Gavi to address so called climate externalities, helping Gavi to test

innovative climate friendly solutions in our value chain, aimed at increasing our impact, at pace.”

GAVI Sebastian Meaney, Director of UK Strategy and Resource Mobilisation

Marco Lambertini, Director General of WWF

Bernadette Clavier, Director of Social Innovation, Stanford

“We are living in a time of unprecedented risk but also opportunity for the future

of our planet and our society. We saw at COP21, that there are a growing number

of corporations who are committing to address climate change. But time is of the

essence, so now, more than ever, we need leadership to act, and fast. Project X will

bring together decision makers from business acceleration, clean technology, academia

and investment to focus on common goals to accelerate impact at scale.”

“The world has been missing a catalyst to mobilize the top entrepreneurial, financial,

and regulatory resources to address industry wide environmental challenges that no

individual organization can address on its own. Project X’s innovative model will bring to

life collective solutions that weren’t possible before and generate the necessary speed and

momentum for them to succeed. I’ve never been more hopeful in our ability to address the

environmental challenges of our times.”

SkrettingMarta Rojo, Director of Procurement

“Innovation is core to everything we do at Skretting. We face an immense

challenge to feed a growing world population and to produce food with less

resources. We are continuously working on identifying, developing and validating

new solutions to support animal health and performance, and we are looking

forward to working with Project X come up with new ways to reduce inputs,

scale-up sustainable innovations and increase productivity, whilst

addressing the fundamental environmental need, at the right risks.”

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Unlike other major transformation programmes that focus on overarching goals like ‘solve the global feed challenge’, Project X micro-targets a very specific challenge within a key segment of the global industry and hones down on a single value chain to test it. Once we have de-risked, tested and proven that solution in a minimum risk environment, we can then scale it up across multiple value chains and industry segments.

OUR METHODOLOGY

OUR SYSTEMS CHANGE APPROACH

GLO

BA

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GE G

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IND

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IND

USTR

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IND

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SEG

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USTR

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MA

RK

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MA

RK

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MARKET LEADER(CENTRE)

MARKET COALITION

MINIMISING RISK

MAXIMIS

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PACT

MAXIMISING IMPACT

MINIM

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One of the key benefits of the Project X model is it is a pre-defined end to end model that brings together

multiple fragmented parts of the existing value chain of innovation into a single programme for its partners.

The programme follows a tried and tested sequence that we share with all key stakeholders, so everybody

is on the same page about what to expect and where are in the programme at any given time.

- Market Readiness Research: The market readiness research has been added to the programme to

drive industry, financier and academic consensus on what the priority solutions are in any given industry

together with as assessment of the industries’ ability to adopt these solutions when they come. Led by

leading academics globally, then peer reviewed for absolute independence, this is a crucial input

into the programme that enables an organisation like WWF to know it is backing the right

solutions before it scales them industry wide.

- Industry Roll Out: This phase takes the newly tested and scaled solutions from one value chain

and ensures adoption in multiple companies and industries until the crucial 10% of global production

target is met.

Project X was designed in collaboration with Business Cubed; a tried and tested programme that helps risk

adverse organisations adopt sustainable innovations into their value chain.

To develop Project X, we took this tried and tested process to support one company at a time and added

two extra modules:

HOW IT WORKS TRIED AND TESTED CORE

CalibratedResearch

Industry Roll Out

CompanyAdoption Model

Selected Industry

Market Readiness

(Market opportunity assesment)

Test

Verification

Scale test & Verification

Company Roll Out

Industry Roll Out

Category De-risking Report

Problem Definition

Search and Select

09

MINIMISING RISK

MAXIMIS

ING IM

PACT

00 01 05 07 080602 03 04 09

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BUSINESS CUBED: COMPANY ADOPTION MODEL - RESULTS

THE RESULTS

Business Cubed’s unique specialism and track record in enabling companies to adopt innovations into notoriously risk adverse corporate value chains, is a real lynch-pin to Project X offering.

Being able to create change in a whole industry starts with one successful case study and knowing we

have that tried and tested resource on board has enabled us to create a programme that can, company by

company, roll innovations out across industry.

With so many high impact solutions failing to reach the market due to perceptions of high risk and costs,

genuine industry-level sustainable innovations are not able to scale up. The Business Cubed approach has

been pivotal to help risk adverse organisations to accelerate the economic, environmental and social impact

of tested and viable sustainable innovations in corporate value chain, at pace.

‘Business Cubed successfully reformulates the traditional model of acceleration through ideation, so that

procurement of sustainable innovations in the corporate value chain is positioned at the centre of the model

rather than seen as an externality to scale up, largely unaffected by risk and trust.’ Steve Evans Director of

Research in Industrial Sustainability, Institute for Manufacturing, University of Cambridge.

The Bank’s Innovation Gateway was set

up through Marcela Navarro and saved

more than 40,000 tonnes of CO2 and

200m litres of water in its first proof-of-

concept year, equating to savings of

£7.5m when rolled-out across its estate.

The programme, now it its third year, has

trialled electric car clubs, energy systems

that adjust using real-weather data, and

central heating additives among other

sustainable innovations.

ONE OF THE LARGEST FINANCIAL INSTITUTIONS GLOBALLY

Following the success of RBS, the

Cummins Environmental Gateway was

launched in partnership with Business

Cubed, to achieve four fundamental

objectives: Cost savings, environmental

targets, supplier inclusion and an

innovative culture within Cummins.

The programme, in its proof of concept

phase, is set to help the firm reach its

2020 sustainability targets. Cummins

expects to reach an annual emissions

reduction of 3.5 million metric tonnes in

that timeframe, reduce direct water use

by 33%, increase recycling rates from

89% in 2014 to 95% and reduce energy

use and emissions by 25% and 27%

respectively against a 2005 baseline.

Heat capturing equipment, food

composting and algae tiles are amongst

the innovations that could deliver costs

savings of more than £640,000 while

reducing key climate impacts for engine

manufacturers Cummins.

“If we were to mobilise all of the Finalists

innovations presented on the 2nd March,

we have the potential to deliver cost

savings of £640,000, reduce energy

consumption by 2,080,183 kwh, reduce

water consumption by 19,677,830 litres,

save 17,818 Tonnes of CO2 and 1,000

tonnes of additional waste recycled. This

is in the test phase only! The impact of

scaled innovations is potentially even

more significant. It’s been an inspiring

journey.”

Denis Ford, Cummins, Corporate

Indirect Purchasing International

Leader EMEA & APAC

A FORTUNE 500 ENGINEERING COMPANY

RBS Cummins

40 DAYS. 100 INNOVATORS. 28 FINALISTS.

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FOR THE PERIOD OF 2017-2020 WE HAVE IDENTIFIED AND SECURED TWO PILOT PROGRAMMES TO TEST AND EVOLVE THE MODEL, READY FOR THE 10 INDUSTRIES IN 10 YEARS PROGRAMME.

Programme Title:

Target:

Lead Partner:

Comapny Bio:

Revenue:

Purchasing Power:

Estimated Value of Contract:

Status of Programme:

Impact Goal:

Feed-X

10% of the global feed industry (critical mass) adopted at least one

alternative feed ingredient into their value chain; at least one feed

industry leader implementing it at scale.

Nutreco

Dutch producer of animal nutrition, fish feed and processed meat

products. It has about 100 production facilities in more than 30

countries, and eight research centers.

5.229b Euros

£2.2b

£2.6m

Approved

To radically reduce feed ingredient production related

environmental impacts.

Specifically:

- Soy: Mass Deforestation

- Grains: Exhausting global carbon emissions budget

- Fish Oil / Meal: Mass Exploitation of our oceans

THE PILOT PROGRAMMES

NUTRECO

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Programme Title:

Target:

Lead Partner:

Comapny Bio:

Strategic Spend 2016/2020:

Purchasing Power:

Estimated Value of Contract:

Status of Contract:

Impact Goal:

GAVI-X

Reach 800 million children with effective vaccines by 2020 at the

same time as halving environmental impacts.

GAVI

A public–private global health partnership committed to increasing

access to immunisation in poor countries. Founding Partners: World

Bank, Bill & Melinda Gates Foundation, World Health Organisation

and UNICEF.

7 Billion Euros

TBC

TBC

Expression of Interest Signed. 1m match funding, Davos 2018

programme launch.

To radically reduce the environmental impacts of vaccine management

in three stages:

- Next generation technologies to optimise value chain (waste,

transport, cold chain etc)

- Non core pharmacuetical manufacturing (ie packaging)

- Core pharmacuetical manufacturing (ie vaccine ingredients)

GAVI

Project X will be rolling out this programme in two key stages:

INITIATION AND ROLL OUT STRATEGY: 2017-2030 – A HIGH LEVEL OVERVIEW

1. Initiate & Stabilise: 2017-2020

- Test, build and learn from the 2 pilots programmes (Feed-X and GAVI-X)

- Build out the remaining Project X Architecture

- Map and secure the 10 highest impact industries in 10 years programme against

leading science in the 2018 Living Planet Report

2. Roll out of the 10 industries in 10 years programme: 2020-2030

- Deploy 1 programme per year, launching at Davos from 2020-2029

- NB. 10th and final programme will complete in 2032

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CEOMarcela Navarro

Co-Founder

Project X 100James Hulse

Director

Strategy Simon Pringle

Director

Operations & DeliveryTBC

Director

Research TBC

Programme 01 Delivery

TBC

Programme 02 Delivery

TBC

CDOKate Wolfenden

Co-Founder

Marketing & Comms TBC

Director

INTRODUCING THE TEAM

At Project X we are looking for more than just professional history, we are taking our time to

choose the right personalities to make a close knit, high impact team. All based on a solid

foundation of respect and fun. This is our Progress to date.

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Born and raised in Colombia, Marcela has worked across the finance and banking sector

gaining more than 20 years’ experience across sustainability and banking worked in various

parts of the finance sector around the world, gaining more than 20 years’ experience across

sustainability and banking,

Assuming leadership roles in business development and strategic alliances, Marcela built her

career upon a deep understanding of risk and credit analysis; assessing and on-boarding the

best and most profitable opportunities for the banks she worked for. Her corporate banking

experience spanned three continents in this time.

Marcela’s last couple of years in banking was as the head of customer innovation for the

Royal Bank of Scotland (RBS) and as a member of the Corporate Banking Board. Whilst

there, Marcela designed and led the highly successful RBS Innovation Gateway: A tool to

enable such a risk adverse organisation to adopt sustainable innovations into the corporate

value chain. She was recognised as a Business Leader in the UK for this work – a Business

Green award.

Marcela left the bank in 2015 and has since replicated this model in Cummins, a fortune

500 engineering firm, focusing on waste, water and energy efficient innovations. Cummins

has now decided to scale up the programme into Western Europe and Indiana. RBS has

continued to roll out the model for a further four more cycles.

Marcela has been recently been invited to join The Rockefeller Foundation’s YieldWise

initiative as a development partner. She is a also development partner to the Technology

Strategy Board / Innovate UK and Climate Kic, a C-Suite advisor and board member of

several non profits. Marcela’s unique experience and skill set makes her perfectly positioned

to lead on Delivery and Impact for Project X:

Key subject matter expertise:

Born and raised in the UK, Kate started her career as a serial creative entrepreneur running

several small businesses in the realms of arts, fashion and hospitality until the age of 28; This

time gave Kate a solid understanding of those early years in business and what it takes to

make something a success. When she left the company, annual turnover upon leaving the

company was circa £1m Kate had been recognised as a young creative entrepreneur by the

London Mayor and the venues she operated had won several awards and plenty of press

coverage.

Moving into the third sector in 2008, Kate made the transition through her sales skills and for

the next 6 years worked for award winning charities like Oxfam, Carbon Disclosure Project

and Childreach International) or corporate partnership programmes globally. During this time

Kate honed her interests into sustainability and climate change and focused on attracting and

developing creative partnerships. Kate feels most comfortable operating at C-Suite level and

as such her time in partnerships has brought with her a strong, senior and global network of

sustainability professionals and corporate leaders.

In 2011, Kate got a scholarship for an MBA and used this to move into an innovation role to

disrupt the current traditional fundraising model that charities rely on within WWF. Project X,

the concept, came out of this transformational innovation role.

In compliment to this work Kate mentors several start-ups and is Co-Chair for the BOND

innovation community, guiding other leading charities into the UK into more transformational

thinking.

Key subject matter expertise:

- Value chain transformation

- Corporate Innovation

- Finance

- Risk

- System’s System Change

- Sustainability

- Collaboration models

- Entrepreneurialism

- Fundraising

- Innovation

- Managing third sector engagement

- C-Suite level business development

- Partnerships and programme design

- Events

MARCELA NAVARROCO-FOUNDER

KATE WOLFENDENCO-FOUNDER

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An internal WWF subject specific advisory committee comprising of internal and external

experts is formed for each cycle during the programme design phase (Stage 1).

Here is an example of the Feed Programme advisory committee.

Agricultural Commodities: Emma Keller, Agricultural Commodities Manager WWF

Ocean Ecosystems Louise Heaps, Chief Advisor, Oceans WWF

Aquaculture Markets Piers Hart, Head of Aquaculture Market Transformation WWF

Food Policy & Regulation Duncan Williamson, Head of Food Policy WWF

SDGs Dominic White, Head of International Policy WWF

Innovative Finance Sue Charman, Director of Finance & Stewardship WWF

Social Innovation Bernadette ClavierDirector of Social

Innovation, Stanford

Value Chain Steve Evans, Head of Industrial Sustainability Cambridge

Corporate Ian Lobo MD, ADP Strategy & Growth

NGO Management Thomas Vellacott CEO, WWF Switzerland

Communications & User Experience Steve Terrugi CEO, Method

All other relevant subject

matter experts To be appointed for each program

SUBJECT SPECIFIC ADVISORY COMMITTEE

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We recognise the importance of good governance we have adopted the following principles to

ensure we adhere to best practice:

Good decision making – only through authorised channels. Project X makes decisions through:

1) Individuals who are authorised to make decisions

2) Pre-agreed or pre-existing committees

Individual responsibility – Project X team members know and understand:

1) Their roles and responsibilities

2) To whom they are accountable

3) What authorities they have

Collective responsibility

1) Project X Committees have appropriate membership and attendees.

2) Members of the committees take joint responsibility and are accountable for the decisions the

committees take

3) Committees approach their considerations in a collaborative and professional way

4) Committees aim for continuous improvement at every level and will ensure the objectives of

Project X are met at all times

Material risks are identified and managed

1) all members of the Project X have an individual responsibility to identify risk

2) Project boundaries and risk appetite are clearly articulated and it is incorporated into business

strategy, plans, project goals and processes

Roles & Responsibilities are clearly defined and upheld - an effective project, needs an effective

team. Roles will be defined subject to skill sets and competencies, managed by the team and

reported back to the Steering Committee

Effective Stakeholder Management

1) Appropriate arrangements are in place to facilitate engagement with key stakeholders.

2) Project X members are responsible for managing stakeholder relationships understand their

accountabilities

3) Approaches to communications with relevant stakeholders are consistent with communicating

professionally and clearly

GOVERNANCE PRINCIPLES HOW DO WE MEASURE OUR SUCCESS?

We measure this success by monitoring how many £s of procurement we can transition to sustainably procured £s during the course and as a result of each programme.

The ultimate goal of every programme is ensure 10% of each global industry

is adopting or testing new sustainable solutions in their value chains.

NB. All our programme results will be externally verified by an independent

assurance provider.

THE PROJECT X BUSINESS MODEL:The Project X revenue streams come from 2 key sources:

• Programme fees

• Performance fees: repayable on a success basis against pre-agreed

Programme Delivery KPIs specific to each Programme

£1 TO £1

WHAT IS £1 TO £1?To transition one procured

Pound into one sustainable

procured Pound.

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THE IMPACT POTENTIALProject X is built on a tried and tested model, has a uniquely qualified leadership team on the programme to deliver it, the worlds’ leading conservation brand backing it, an extensive support and advisory network and a pipeline of guaranteed and prospective projects just waiting to be actioned.

THIS IS WHY WE NEED THE RIGHT PEOPLE AROUND US.

LIKELY AND UNLIKELY ALLIES. PEOPLE WHO ARE PREPARED TO THINK BIG, EXPERIMENT BOLDLY, BUILD AND LEARN

AS WE GO.

The project itself will be financially self-sustaining post 2020; and between the period of

2017-2030 it will generate the following world resounding impacts:

Project X will transform 2

industry value chains (Feed-X

and GaviX; feed production and

climate smart health systems)

from the period of 2017-2020.

Project X will dramatically reduce

the demand drivers for key

resource strained and resource

inefficient commodities globally.

Project X will then go onto

radically transform 10 of

the highest environmentally

impacting industry value chains

in 10 years.

Project X will radically reduce

the total environmental impacts

of these value chains and the

rate at which these reductions

can be achieved.

Project X will mobilise an

additional $10b of investment

into the crucially overlooked

adoption of sustainable

innovations.

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FINANCIAL INFORMATION

Our financial projections have been prepared and peer reviewed to reflect a modest and balanced view of our finances and we have performed a risk assessment on the revenue streams for this pilot phase, to minimise potential assumption accuracy issues.

A detailed introduction into Project X finances is available on request.

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THANK YOU

Thank you for taking the time to read this Briefing Document. In the last week 72,000 football pitches of forest have been chopped down and the arctic sea ice will have retreated another 13.5 square miles.

This next 13 years leading up to 2030 is the most critical time window humanity has

ever faced. All over the world, corporates have signed up to difficult targets. Project X is a

real, tried and tested solution to help these companies make a real impact using business

methods familiar to you.

We will be reaching out to you directly in the next few months. But, if you have any questions

or are interested in our project please contact Kate or Marcela directly, on:

mn@projectxglobal.com

+44 (0) 7852 925 393

kw@projectxglobal.com

+44 (0) 7429 131 435

The Tea Building, Studio 701

56 Shoreditch High Street

London, E1 6JJ

Marcela Navarro Kate Wolfenden

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The Tea Building, Studio 701

56 Shoreditch High Street, London E1 6JJ

Tel. +44 (0) 20 3051 7935Designed by: ThisisChemistry.co.uk