NbS Triple Win Toolkit: Biodiversity Indicators in Context 25 Two headline biodiversity indicators are recommended, and have been initially developed in the format of draft ICF Key Performance Indicator (KPI) methodology notes. They are designed to complement each other (one being ecosystems focused, one being species focused), but can also be used in isolation. Further development should be based on stakeholder consultation to consider specific implementation to finalise the indicators for operational use: Hectares under ecological restoration as a result of funding reports the total area for which funded activities have been implemented to restore an area towards a reference ecosystem. Note that the goal is the integrity and intactness relative to natural ecosystems. This indicator can be extended to include areas which have seen sufficient improvement to be considered recovered. Improvement in status of threatened species as a result of funding reports the (modelled) cumulative reduction in species’ extinction risks as a result of funded activities, including both threator pressure reduction, and habitat restoration. It is based on the International Union for the Conservation of Nature (IUCN) Species Threat Abatement and Restoration (STAR) metric, and usesglobal assessments from the Red List of Threatened Species. There are many additional potential indicators which would add insight and value to an indicator suite. These include more specific indicators such as pressure indicators which can report on the reduction of major components of threat to biodiversity. They have not been recommended Executive Summary at the headline level as they are likely to be less widely applicable across a portfolio of funding, however they should be consideredas additional headline indicators if any are likely to be relevantto a significant proportion of the funded programmes, and/or theyare perceived to be a priority to the funders. Due to the limitations of information from the headline indicators in isolation, and the importance of site-specific context in biodiversity,we strongly recommend that attention should be given to the planning and implementation of additional biodiversity indicators appropriate to the project or programme. This will help to ensure the biodiversity implications and potential benefits of the project are well thought-out,can be maximised within the scope of the project, and are more likelyto lead to long-term success and increase the value of the project asa whole. Consideration of each of the NbS principles can help with project development and determining suitable biodiversity indicators,to ensure a successful programme of work. The presented recommendations have been made in relation to the ICF portfolio of investments, but could be suitable for other funding programmes including Official Development Assistance (ODA) spend. Further considerations for wider use of the indicators are discussed, including how potential expansion and the relevance of the indicators to national biodiversity reporting by recipient countries as part of multilateral environmental agreements (MEAs).