87329Developing a Nature-Based Solutions Business Model for the Cosmetics IndustryClosedCollaborative R&DInnovate UKPilio will catalyse the disruption in the cosmetic supply chain due to COVID-19 to transition market leaders to conscious land management through directing the flow of investment to NbS. NbS are activities to protect/restore/manage natural and semi-natural ecosystems to address societal challenges (IUCN, 2020). Our innovation is a SaaS platform combined with an innovative NbS project insetting finance model that enables industry leaders to identify/measure/transition to sourcing sustainably-produced raw materials. Pilio will build economic and socio-ecological resilience within the cosmetic industry, with a specific focus on improving biodiversity in destructive crops (Cocoa Butter, Palm Oil and Patchouli). In this project we will develop a set of NbS algorithms for palm, cocoa and patchouli supply chains. The algorithm will process global environmental data (eg. soil carbon, water regulation, nutrients); project data (metadata, baseline, impact of the intervention); and financial data (economic assessment of raw materials, cost benefit analysis of interventions). The resulting algorithm will form the basis of a decision making tool to choose projects based on cost and benefit, monitor their impact, and decide on their financing structure. To develop the solution we are working with Lush Fresh Handmade Cosmetics, BSR, Mapshubs, Quick Start Consulting and expert advisors Dr. Bronson Griscom, Director Nature-based Solutions, Conservation International) and Dr. Mehjabeen (Sustainability advisor to L'Oreal Cosmetics). Pilio is an environmental sustainability innovation software service company born out of the University of Oxford's Environmental Change Institute in 2011\. Pilio has successfully commercialised an energy and carbon management software as service platform to enable businesses to reduce their energy costs and carbon footprint. The team is led by a female founder, Catherine Bottrill, and supported by a diverse team of contributors.