Conflict of Interest Policy

Version 0.9

1. Purpose

The purpose of this Conflict of Interest Policy ("Policy") is to ensure that all employees, board members, contractors, and affiliates of the Nature Value Foundation (NVF) effectively identify, disclose, and manage any actual, potential, or perceived conflicts of interest. This Policy safeguards the integrity and impartiality of the NVF, its operations and the Nature Climate Standard.

2. Objective

The NVF aims to maintain the highest standards of transparency, ethical conduct, and trustworthiness. This Policy ensures that all involved parties are aware of their responsibility to disclose conflicts of interest and manage them appropriately, thus protecting the credibility of the NVF.

3. Definition of Conflict of Interest

A conflict of interest arises when personal, financial, or other interests of an individual interfere or appear to interfere with the individual's duties to the NVF. These interests may be financial or non-financial and include, but are not limited to, interests related to:

• Family members

• Close friends

• Associates

• Financial or professional relationships

Conflicts of interest may be positive (driven by personal gain) or negative (driven by harm to others) and can be actual, potential, or perceived.

4. Requirements

4.1 Identification and Disclosure of Conflicts of Interest

All personnel, board members, and affiliates have a continuous responsibility to identify, declare, and manage conflicts of interest that may arise. This includes disclosing any personal or professional interests that might interfere with their duties to the NVF.

A disclosure form must be completed by each NVF staff member, contractor, affiliate as well as senior management and leadership. Any identified conflicts must be reported to the individual's direct supervisor or general management. If the conflict involves the Board of Directors, the issue must be escalated to the NVF Advisory Board.

4.2 Managing Conflicts of Interest

If the NVF determines there is a conflict of interest, a management plan will be developed to mitigate the situation. The management plan may involve the actions below. At a minimum, the conflict must be recorded and disclosed.

Action	Description
Record and Disclose	All details regarding the conflict of interest must be documented and disclosed in a transparent and appropriate manner.
Restrict	Limit the involvement of the personnel in question by redefining the scope of their work or restricting their access to specific information related to the matter.
Recruit and Monitor	Engage an impartial third party to oversee certain aspects or the entirety of the process to ensure objectivity and fairness.
Remove	Remove or allow the individual to voluntarily step aside from the process. For instance, if the conflict involves a methodology application linked to a relevant committee member, that individual may be required to withdraw from the review process.
Relinquish	The individual may surrender the private interest causing the conflict. If relinquishment is not feasible, and the conflict cannot be resolved using other measures, the individual should consider stepping away from their role in the process entirely.

5. Responsibilities

5.1 Staff, Contractors, and Affiliates

NVF staff, contractors, and affiliates are required to:

• Comply with this Policy and ensure any conflicts are promptly disclosed.

• Adhere to the measures defined in their management plan where a conflict has been identified.

• Avoid any situations where personal interests might affect their duties to the NVF.

• Maintain confidentiality concerning information obtained during the course of their work.

5.2 Board Members and Management

Board members and senior management must:

• Act in the best interest of the NVF at all times.

• Ensure conflicts are appropriately disclosed and managed.

• Adhere to the measures defined in their management plan where a conflict has been identified.

• Review and endorse conflict management plans as necessary.

6. Review and Consequences

6.1 Review of Policy

This Conflict of Interest Policy will be reviewed annually to ensure its relevance and effectiveness. Amendments will be made as necessary to adapt to evolving regulations and circumstances.

6.2 Consequences of Non-compliance

Failure to comply with this Policy may result in disciplinary actions, including termination of employment or contract and legal action if deemed necessary.