Global Footprint Network ANNUAL REPORT

2014

1 Our mission is to help end ecological overshoot by making ecological limits central to decision-making. By promoting data, tools, and analysis linking resource constraints to economics and well-being, Global Footprint Network influences major investments and policy shifts to support global sustainability.

Our vision is that all people can live well, within the means of nature.

2 SINCE OUR INCEPTION IN 2003, WE’VE ENGAGED

IN 68 COUNTRIES ON 6 CONTINENTS TO MAKE ECOLOGICAL LIMITS CENTRAL TO DECISION-MAKING. 3 NATIONAL POLICY & DECISION MAKING

The Ecological Footprint enables national governments to measure and manage their country’s ecological assets. By identifying risks associated with ecological deficits, Ecological Footprint accounting helps decision-makers set policy that safeguards resources and enhances economic prosperity.

The foundation of all Ecological Footprint accounting at the national level is based on our National Footprint Accounts, Featured Country: Switzerland which track human demand In September 2014 we published the “Significance of Global on nature and our planet’s Resource Availability to Swiss Competitiveness,” a report capacity to meet that demand commissioned by five Swiss government agencies and co-produced for more than 200 nations. with BAKBASEL. We found that Switzerland’s relative income has been The Footprint Accounts use decreasing compared to the world. The Swiss resident now takes home more than 6,000 data points a 35 percent smaller share of global income than 20 years ago, or less per country per year. than 50 percent of the share 35 years ago. 4 NATIONAL POLICY & DECISION MAKING 2014 BY THE NUMBERS

AUSTRIA BANGLADESH BHUTAN BRAZIL National Engagements CHINA COLOMBIA COSTA RICA 39 CROATIA DENMARK ECUADOR FINLAND FRANCE GABON GREECE HUNGARY INDIA INDONESIA ITALY JAPAN SOUTH KOREA KUWAIT LIECHTENSTEIN MEXICO MOROCCO MOZAMBIQUE NORWAY PERU PHILIPPINES PORTUGAL QATAR ROMANIA RUSSIA SPAIN SWITZERLAND TUNISIA TURKEY UNITED ARAB EMIRATES UNITED KINGDOM UNITED STATES 5 NATIONAL POLICY & DECISION MAKING 2014 BY THE NUMBERS Engagements with International 21 Organizations

Arab Forum For EU Directorate General - UN Commission on UNEP Sustainable Environment and Research Sustainable Development Consumption and Development (AFED) EU Parliament UN Convention to Combat Production African Development Bank Interamerican Development Desertification UNEP The Economics of Asian Development Bank Bank UN Development Ecosystems and (ADB) International Organisation Programme (UNDP) Biodiversity (TEEB) Association of Southeast of La Francophonie UN Environment UNEP World Conservation Asian Nations (ASEAN) International Union for Programme (UNEP) Monitoring Centre - Community of Andean Conservation of Nature UNEP Convention on Biodiversity Indicators Nations (IUCN) Biological Diversity Partnership (BIP) Comunidad Andena The London Group (SEEA) UNEP Department of Early UN Statistics Division - System of Environmental- Fomento Organisation for Economic Warning and Assessment UNEP Finance Initiative Economic Accounting European Environment Co-operation and (SEEA) Agency Development (OECD) - (UNEP FI) European Union (EU) Development Assistance UNEP Green Economy Directorate General - Committee UNEP Mediterranean Environment OECD - Green Growth Action Plan 6 METRICS FOR CITIES AND LOCAL GOVERNMENTS

Cities that make investments to improve the well-being of their citizens while maintaining or even expanding their natural capital will be more resilient amid growing resource constraints. Global Footprint Network supports local and regional leaders in making fiscally responsible, sustainable investments for a prosperous future. Communities and city planners around the globe use Featured City: Calgary our tools to guide land use Calgary applied the Ecological Footprint methodology to land-use planning, including proposed downtown redevelopment. In a comparison and budget decisions, track of four scenarios, Calgary’s Footprint analysis found mobility a policy sustainability progress, and priority and called for a multi-modal transportation system and improved support better sustainability jobs-to-housing balance to reduce the city’s Ecological Footprint from policy and actions. 8.5 global hectares (gha) to the Canadian national average of 7.25 gha by 2036. 7 METRICS FOR CITIES AND LOCAL GOVERNMENTS

Net Present Value Plus (NPV+) pilot in the State of Maryland NPV+ expands on familiar net present value analysis by including un-priced factors such as the cost of environmental degradation and benefits like ecological resiliency. NPV+ also uses multiple scenarios and discount rates to create a more realistic context for capital decisions.

With the support of Maryland Gov. Martin O’Malley, Global Footprint Network used NPV+ to analyze three state projects: land conservation, a weatherization program and fleet vehicle purchases. The analysis helped provide the basis for one of O’Malley’s last executive orders, which directed the state to buy more zero emissions vehicles.

8 METRICS FOR CITIES AND LOCAL GOVERNMENTS 2014 BY THE NUMBERS 11 Sub-national engagements

City of Barcelona, Spain City of Calgary, Canada City of Lyon, France City of Natal, Brazil Calgary Province of Ontario City of Tel Aviv, Israel Lyon EPA Region 1 Barcelona Environmental Protection State of Maryland Valencia Agency Region 1, USA Tel Aviv Province of Guizhou Province of Guizhou, China Province of Ontario, Canada

Natal, Brazil State of Acre State of Acre, Brazil State of Maryland, USA

9 FINANCE FOR CHANGE

Resource constraints can affect the economic performance of entire countries, and consequently countries’ ability or willingness to pay back its debts. To date, however, the risks of resource constraints have been largely overlooked in the $41 trillion sovereign bond market.

Our ERISC (Environmental Risk Integration in Sovereign Credit) methodology aims to fill this gap by identifying the economic risks ERISC Phase II Launch Global Footprint Network and UNEP FI (UN Environment Programme that a country is exposed to as Finance Initiative) launched ERISC Phase II in London with seven a result of its pattern of natural financial institutions. This second phase of research will measure the resource consumption, including trade-related risks of countries, with a special focus on food. risks related to stranded assets, degradation and trade. FINANCE FOR CHANGE

New stranded assets research Our team began a new stream of research focused on estimating the risk exposure of national economies to the loss of carbon-intensive assets, including power plants, vehicle fleets and factories. Such assets stand to lose value as the economic structures of nations evolve in order to stay within 2-degree warming limit recommended by scientists. Our research aims to identify and rank countries based on their varied exposure to this risk of asset stranding.

11 FINANCE FOR CHANGE 2014 BY THE NUMBERS

Finance Finance 7 institutions 7 institutions participated license in Phase II of the Environmental and/or use Ecological Footprint Risk in Sovereign Credit (ERISC) data in their investment models Initiative

Caisse des Dépôts AXA Investment Managers Colonial First State Bloomberg European Investment Bank MSCI HSBC Bank Notenstein Privatbank Kempen & Co Merchant Bank Oddo Securities KfW Development Bank Pictet Bank Standard & Poor’s Sustainalytics

12 HUMAN DEVELOPMENT INITIATIVE

Sustainable human development is successful only when it improves citizens’ well-being without degrading the environment. Global Footprint Network is developing a new tool, called Sustainable Development Return on Investment (SDROI), to measure how much lasting development a project generates. By using SDROI before, during and after interventions, donor agencies and organizations can ultimately Sustainable Development Pilot Project identify the per-dollar impact of in India their investment. The tool also In partnership with IDE-India, Gram Vikas and Fundación Escuela Nueva, will empower local communities Global Footprint Network is testing the SDROI tool in nearly a dozen to own, negotiate and manage villages in the state of Odisha, India. The pilot includes local bottom-up their own socioeconomic household Footprint analysis, but ultimately SDROI will be able to scale development. to larger populations and regions. 13 2014 BY THE NUMBERS

Awards 2 Susan Burns, CEO and Mathis Wackernagel, President, Inducted into the Sustainability Hall of Fame - International Society of Sustainability Professionals (ISSP) The Global Journal “Top 100 NGOs 2014” (for third year in a row) 1 7 Million Academic 392 Unique users of the Footprint calculator papers Data licenses in 146 countries in 66 countries 14 footprintnetwork.org/calculator 78 PARTNERS IN 26 COUNTRIES WORKING TO ACHIEVE LARGE-SCALE CHANGE

Government Agencies Consultancies Educational Institutions Corporations Innovation for Sustainable Abu Dhabi Global Agenda 21 Consulting Agrocampus Ouest Bank Sarasin Development Association Environmental Data Best Foot Forward Cardiff University – Centre Barilla Instituto Jatobás Initiative Centro Nacional de for Business Relationships, Pictet Group Instituto Ricerche Economiche City of Calgary Consultoría Accountability Portfolio 21 Investments, Inc. e Sociali del Piemonte ICLEI Local Governments Centro de Estudos e Sustainability and Korea Institute Center for for Sustainability Estratégias para a Society (BRASS) NGOs Sustainable Development Welsh Assembly Sustentabilidade British Columbia Institute Agir21 KÖVET Association for Government DANDELION of Technology – School ALISOS – Alianzas para la Sustainable Economies Zero Waste SA Environmental Consulting of Construction and Sostenibilidad Millennium Institute (South Australia) and Service Ltd. Environment BioRegional Development New Economics Ecolife Centre d’etude et de Recherce Group Foundation (nef) Appliquee a la Gestion EcoMark Climact One Earth Initiative Charles University Plattform Footprint EcoRes Confederation of Indian Environment Center Population Matters Ecossistemas Design Industry (CII) Corvinus University of Dutch Footprint Group – Pronatura Mexico Ecológico Budapest Werkgroep Voetafdruk Sentido Verde EcoSTEPS Ecole Nationale Supérieur Nederland Sustainable Europe Estudio MC des Mines de Saint-Étienne Earth Day Network Research Institute (SERI) Footprint Consult E.U. Gujarat Institute for Ecological Footprint Japan The Natural Step Info Grafik Inc. Development Research Eco-Norfolk Foundation International IDEA Consultants Inc. Instituto Nacional de Emirates Environmental The Sustainable Scale Libélula Tecnología Industrial Group Project Natural Logic, Inc. Maastritch University Emirates Wildlife Society / The Web of Hope Paul Wermer Sustainability Pontifical Catholic WWF Utah Population and Consulting University of Peru Foundation for Global Environment Coalition Punto 3 Srl University of Genoa – Sustainability Water Footprint Network RECYCLA Chile Department for the Study Fundación Amigos de la WWF – International Sustentator of Territory and its Naturaleza WWF – Japan The Footprint Company Resources Fundación Neotrópica University of Siena – – Costa Rica Ecodynamics Group Globexs

15 THANK YOU FOR YOUR GENEROUS DONATIONS RECEIVED JANUARY 1, 2014 – DECEMBER 31, 2014

Foundations Educational Institutions Individuals Max & Rosmarie Burkhard- Ted Fink Bannister/Watanabe Fund Cornell University Carol Abramson Schindler Daniel Francis Barr Foundation Research Institute for Mark Abramson Miles C. Burns Karla Franklin Benevity Community Impact Humanity and Nature Marshall Abramson Norman & Peggy Burns David Franklin Fund (RIHN) Luis Agrellos Susan Burns Erin Frawley Dudley Foundation University of Barcelona Geoff & Beverly Ainscow Kathleen Callahan Henry M. Frechette Jr. Fidelity Charitable Gift Fund University of St Andrews, Douglas Alexander Eduart Cani Michael Frothingham Flora Family Foundation Scotland Nadir Allahverdiyev Francois Cellier Michael Funch Foundation for Human Jean-Paul Alonso Don Chisholm Erin Garcia Conservation Corporations Halldor Amason Aman Chitkara Antoinette Gelzer-Miescher Lawrence Foundation INFRAS Amazon Smile Kara Christenson Christiane Gelzer-Sarasin MAVA Stiftung Maar Consulting Helen Ampt Kevin Clark Michael Gerber Mental Insight Foundation RVR Service AG Philip Anderson John B. Cobb Jr. David Gibson Overlook International Solvay Halldor Arnason Kristin Cobble Lianna & Robert Gilman Foundation Stein Design Impact Assets Stuart Cohen Louis Ginsberg Pittsburgh Foundation Frank & Margrit Balmer- Nicole Collier John W. L. Goering Rockefeller Foundation NGOs Leupold Mark Comin Steven H. Goldfinger San Francisco Foundation Advocates for a Sustainable Gautam Barua Laura Counts Alberto Gottardo Skoll Foundation Albemarle Population Christian Baumhauer Peter Cross Betty Granoff Stiftung Procare BioRegional Development Agnes Bayatti-Ozdemir Edmund Davey Al Grant Tellus Mater Foundation Group Eugene Bazan Theo De Meyer Robert Gray Tides Foundation Maximo T. Kalaw Institute Victoria Beckner Nona Dennis Jonas Greuter for Sustainable Development UsitawiNetwork Foundation Deanne Bednar Michael & Gerilyn Denny Richard Grossman Network for Good Winslow Foundation Warren Bell Bob Dimiceli Nicole Grunewald Secretariat of the Pacific Chela Blitt William Downing Beat Guggisberg Regional Environment Oscar Bloch Alexandra Duarte Yvonne Haener-Zuber Government Agencies Programme Carlos Brandao Joerg Duschmale Margaret Haley City of Guelph, Canada YouthBuild USA Environment Agency Abu Debbi Brock Eugene Eccli Greg Hallett Dhabi Helena Brykarz Sharon Ede Betsy Hardy Nordic Council of Ministers Urs & Barbara Burckhardt Mohamed & Patricia El- Ruth Hartman Regional Environmental Center Christoph & Annemarie Ashry Manin Hazarika Zero Waste SA, Australia Burckhardt-Hosig Maria Leticia Figueroa Madeleine Hediger-Joder Samantha Burgess Hans Finckh Ayra Heinicke Michael Burkhard Irene Fineberg Ingrid Heinrich

16 Robert A. Herendeen Andrew Lisac Andrea Dondi Pinton Rod Simpson Georg von der Mühll Jan Hoffmann Laura Loescher Andrea Pook Rob Sisk Jørgen Vos Luc Hoffmann Sergiu Madan Giovanni Porcellana John Sitter Caroline Wackernagel Gijs Holstege Janet Madill Roy Porter David Smernoff Frederick Wackernagel Katsunori Iha Laetitia Mailhes Roger Pritchard Wolfgang Somary Mathis Wackernagel Ben James Serena Mancini Sony Rane Colin Soskolne Rick & Betsy Wackernagel Robert Jarrett John Marshall Joanna Reed Elisabeth Staehelin Tobias Wackernagel Bruce Jefferies Peter Martin Colin Reynolds Dr. Cécile Staehelin- Marie-Christine Grant Jensen Jonathan Martindill Diane Rice Schlienger Wackernagel-Burckhardt David M. Johns Roland Matter Thomas Richle Mark Stafford Smith Liz Walker Robert Johnston Don McCallum Sara Rickards Jessica Staples Paula Warren Jan Juffermans John McCarthy Marci Rinkoff Diane Stark Amber Warren Carl Jurell Kate McLachlan Maria Risquez Matthew & Josie Stein Steven Webb Martin Karcher Ronald E. Meissen Norman Robbins Richard Steinberger David Weckler Douglas Kelbaugh Aimee Merrill Sylvie Rockel Dieter Steiner-Hamel Alan Whitehead Fanny Keller Don Miller Sixto K. Roxas Jan Stensland Nancy G. Wilder Rob & Ronna Kelly Jonathan Miller Richard & Jeanne Roy Dorothy Stoneman Robert Williams Marisa Kieren Mark Mills Ursina Rüegg Coleen Stormer Christian Williams Cara Kirkpatrick Anthony Moir Andrea Ruiz-Esqiude Randall Stratton Jerelyn & Alexander Wilson Horst Korn Hans-Edi & Ruth Moppert- Gray Russell Afra Sturm Reid Wiseman David & Frances Korten Vischer Francis Ryan Dorothy Sulock Gary Wolff Eva Kras Zarina Mulla Mozaffar Sarrafi Leesy Taggart David & Maggi Wooll Joseph Kresse Börje Per Olof Müller Peter Schiess Helena Tan Tetsuzo Yasunari Hartmut Krugmann Daniel Muntwyler Christian Schlatter Ariane Tan J. David Yount Sarosh Kumana Barbara Myers Daniela Schlettwein-Gsell Wes Tator Anne Zimmerman Kevin Kumana Gilles & Monique Nicollier- Julien Schoenlaub Frank Thompson Mark Zoidis Maggie Laidlaw Serment Aletta Schubert-Vischer Don Thompson Christian Zuber-Haener Eli Lazarus Nishit Nisudan Maria Schwartz Teodora Tomasevic Buck Louisa W. Leavitt Paulo Nogueira Pam Schwartz Anannya Tripathy Kyle Lemle Edward Nold Jr. Michael Scott Jeanne Trombly Stuart Lemle Lorraine Nordstrom Nichola Scrutton Silvana Tschudin Robert Lemoine Jørgen Nørgård Jennifer Seely Richard Turner Catherine Lerza Tyler Norris Peter Seidel Isabelle Van Notten Cynthia & Benjamin Leslie- Yonghyup Oh Christine Senn W. J. Van Ry Bole Joakim Olofsson Rebecca Senoglu Beverly Van Straten Carlos Eduardo Lessa Jennifer Pahlka Christine Sepulveda Erik Vandist Brandão William & Catherine Parrish Diana Short Josep Vives-Rego Julie Lewis Ariel Paulson Amanda Short Dale Vodehnal William & Louise Lidicker Rod Perry Michael Simpson Evon Vogt Rob Lilley Freya Pietzsch Rodney Simpson Terry & Mary Vogt

17 WHO WE ARE

Board of Directors Honorary Chair Science and Policy Daniel Pauly, Leading Susan Burns, Founder André Hoffmann, Vice Advisory Council marine ecologist and CEO, Global Chairman, Roche Terry A’Hearn, CEO, Jorgen Randers, Former Footprint Network Environment Agency of President, Norwegian Jamshyd Godrej, Emeritus Northern Ireland School of Management Chairman and Managing John Balbach, Founder Oscar Arias, Former Peter Raven, Former Director, Godrej & Boyce and Managing Partner, President, Costa Rica President, AAAS Mfg Co. Ltd. Adapt Capital William E. Rees, Co-creator Daniel Goldscheider, Lester Brown, Founder and Kristin Cobble, Co-founder, President, Earth Policy Institute of the Ecological Footprint Founder and CEO, Groupaya Paperless, Inc. Herman Daly, Karl-Henrik Robèrt, Bob Doppelt, Director, Intellectual father of Founder, The Natural Step H.E. Razan Khalifa Al Resource Innovation Group Mubarak, Secretary Ecological Economics Emil Salim, Former General, Environment Eric Frothingham, Corporate Fabio Feldmann, Former Indonesian Minister of State Agency - Abu Dhabi attorney, business executive, Minister of Environment, James Gustave Speth, and Founder and Chief São Paulo Sarosh Kumana, Business Officer, Former Dean, Yale Investor, President, Lifelaunchr Inc. Eric Garcetti, Mayor, School of Forestry Pacific Capital Los Angeles and Environmental Studies Management Ann Hancock, Executive Director, Climate Stephen Groff, Vice Will Steffen, Executive Rob Lilley, Investor, Member, Protection Campaign President, Asia Director, Australian Terra Global Capital Development Bank, National University, Tony Long, Director, Southeast Asia/Pacific Lynda Mansson, European Policy Office, Climate Change Institute Director General, WWF Tom Lovejoy, H. John David Suzuki, Award- MAVA Foundation Heinz III Center Haroldo Mattos de Lemos, winning scientist and Louis de Montpellier, Julia Marton-Lefèvre, broadcaster Professor of Environmental Global Head, Official Director General, IUCN M.S. Swaminathan, Institutions Group, State Engineering, Federal University of Rio de Janeiro Manfred Max-Neef, India’s leading scientist on Street Global Advisors Economist, recipient of sustainable food security Elizabeth McNamee, Terry Vogt, Managing Right Livelihood Award Ernst Ulrich von Weizsäcker, CEO, Greener Cleaners Director, Terra Global Michael Meacher, Former Founder, Wuppertal Institute Capital Cara Pike, Director, Social Minister of Environment, Capital Project Dominique Voynet, Former Mathis Wackernagel, Member of Parliament, UK Environment Minister, Co-creator of the Michael Saalfeld, Investor Rhodri Morgan, Former France, and Former Mayor, Ecological Footprint Montreuil and President, Global First Minister for Wales Footprint Network Norman Myers, Leading E.O. Wilson, Distinguished environmental scientist biologist, Harvard University 18 WHO WE ARE

Staff Dharashree Panda Research affiliates Edward Andrews Giacomo Pascolini Gemma Cranston Pragyan Bharati, Ph.D. Sophia Perez Steven Goldfinger Michael Borucke Pati Poblete Martin Kärcher Sandra Browne Amanda Short Justin Kitzes Helena Brykarz Diane Stark Joy Larson Susan Burns Frank Thompson Dan Moran Jill Connaway Geoff Trotter Bonnie McBain Emily Daniel Mathis Wackernagel, Ph.D. Juan Carlos Morales Leticia Figueroa Robert Williams Alfonso Peña Oscar Fornoza Sebastian Winkler Yoshihiko Wada Phillip Fullon David Zimmerman Paul Wermer Alessandro Galli, Ph.D. Michel Gressot Interns Nicole Grunewald, Ph.D. Sabrina Amaro Martin Halle Kevin Boylan Ingrid Heinrich Thomas Dreeson Katsunori Iha Naina Gumpta Ronna Kelly Gina Kiani Kamila Kennedy Jingning Mei Haley Kingsland Elec Morin Elias Lazarus Tenzin Norbu Kyle Lemle Rosemarie Radford David Lin, Ph.D. Jessica Robbins Drew Lisac Guole Shi Jon Martindill Scott Mattoon Chris Nelder Jason Ortego

19 WHO WE ARE

CLIENTS NGOs CONTRIBUTORS Savvy Tax, Inc. Ecolife Brian Shira Government agencies Emirates Wildlife Society- Advice and services Techsoup County Council of Biscay WWF Active Ingredients Tink Tank Studio City of Calgary Fundação Roberto Marinho Anomi Studio Luca Toscani Ecuador Ministry of the WWF-China Bob Dinetz Design Patricia Wintroath, CPA Environment WWF-Hong Kong Bullfrog Films Younossi Law European Environment WWF-International Cosmetto WWF-Japan Agency (EEA) Julie Curry Donated goods and WWF-Russia Ontario Ministry of Emily Daniel services Natural Resources and Earth Economics Cooley LLP Forestry Corporations Melissa Fondakowski Joseph Zammit-Lucia Ernst & Young United Nations Environment Brooking Gatewood Melita Elmore Programme (UNEP) Notenstein Privatbank AG Steven Goldfinger, Ph.D. United States Environmental Rand Corporation G Gomez Protection Agency (EPA) Kajal Hamirani Office of esearchR and William Harless Development Cheryl D. Hicks Leena Launay Iyengar Educational institutions Michelle Jaeger Cornell University Maddox Design Ewha Womans University Laetitia Mailhes Maastricht University Sean McGuire McGill University Jingning Mei University of Liechtenstein Alex Moon Zurich University of the Arts David G. Moore Dan Moran Consultancies Giacomo Pascolini BAK Basel Economics Pathwise Leadership Ecossistemas Design Charles F. Porcari Ecológico Scott Porter Footprint-Consult E.U. Renaissance Consulting IDEA Consultants Inc Group Evelyne Rottiers

20 FINANCIALS

INCOME | JANUARY 1, 2014 – DECEMBER 31, 2014 ALL VALUES SHOWN IN U.S. DOLLARS

1.1 -Foundations Foundations $2,563,890$1,852,865 1 2.2 -Fee Fee for for Services Service $390,0$510,65041 1 2 33. Individual- Individual Contributions Contributions $293,59$315,0967 4 - License Fees $81,841 2 4. License Fees $67,861 5 - In-kind Contributions $130,246 5. In-kind Contributions $65,423 3 6 - Interest, Dividends, Unrealized Gains $8,498 6. Interest, Dividends, Unrealized Gains $49,374 Income 7 - Speaking Honoraria $9,245 7. Speaking Honoraria $33,326 43 8 - Reimbursed Expenses $24,789 8. Reimbursed Expenses $7,178 5 9 - Royalties $200 6 9. Royalties $458 4 7 5 TotalTotal IncomeIncome $3,493,8$2,902,23349 8 6 9

Consolidated across Swiss, U.S. and Belgian entities. 21 FINANCIALS

EXPENSES | JANUARY 1, 2014 – DECEMBER 31, 2014 ALL VALUES SHOWN IN U.S. DOLLARS

1.1 Payroll- Payroll & & Personnel Personnel Expenses Expenses $1,566,995$2,014,747 1 2.2 Operations- Operations $308,446$383,712 3.3 Professional- Professional Fees Fees $253,877 $686,847 2 4.4 Program- Program Expenses Expenses $79,645$154,034 5 - Computer-Related Expense $37,779 5. Computer-Related Expense $42,423 6 - Travel $134,293 Expense 6. Travel $32,441 3 TotalTotal Expense Expense $ $2,283,827 3,402,914

4 5 6

Consolidated across Swiss, U.S. and Belgian entities. 22 EUROPE OFFICE International Environment House 2 7-9 chemin de Balexert 1219 Chatelaine (Geneva) Switzerland +41 22 797 41 08

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