Partner Profile | World Resources Institute

Written by: McKinleigh Lair, Storytelling and Communications Development Senior Associate

In our economic system, some of the most valuable infrastructure isn’t built; it’s grown. The World Resources Institute (WRI) views forests, rivers, and other ecosystems as integral to our water systems, just as essential as pipes and treatment plants. While we meticulously account for the costs of built infrastructure that delivers water to our homes, the natural infrastructure supporting those systems—from snow-capped peaks that feed rivers to wetlands that filter and store water—often go unrecognized and underfunded. When we overlook this value, we risk losing the practical and economic benefits these ecosystems provide to communities, industries, and entire economies.

As Todd Gartner, Director of Cities4Forests and Natural Infrastructure at WRI, warns, “Failing to value nature means risking its degradation and loss.”

Recognizing the need to clarify nature’s value, WRI became a vital early partner to Blue Forest, working together to turn environmental ideals into financially sustainable projects. Long before ‘nature-based investment’ was a recognized term, WRI was championing these solutions, showing utilities, public agencies, and communities that investing in natural infrastructure isn’t just an ecological choice—it’s an economic one. Their role in co-developing the Forest Resilience Bond (FRB) was pivotal, applying the belief that investing in natural infrastructure benefits both people and the planet.

The First FRB: Yuba Water and a Visionary Pioneering Partnership

In 2017, Blue Forest, WRI, and a coalition of partners approached Yuba Water Agency with a bold proposal grounded in rigorous analysis and collaboration. Each partner brought complementary strengths: WRI translated environmental benefits into economic terms, the USDA Forest Service contributed wildfire risk models, Sierra Nevada Conservancy provided regional conservation insights, National Forest Foundation assured effective implementation, and the Sierra Nevada Research Institute at the University of California Merced validated scientific methodologies.

“Our goal was to present a coalition that could achieve something none of us could alone,” recalls Blue Forest’s Co-Founder & Chief Conservation Officer, Nick Wobbrock.

With WRI’s guidance, the team presented a model that showed millions in potential savings from proactive wildfire risk reduction and water security investments, ultimately leading the Yuba Water board to vote unanimously in favor of their participation.

This initial collaboration culminated in the successful completion of the Yuba I FRB five years later, surpassing its original scope and fully repaying investors. By restoring 8,024 acres through forestry work, meadow rehabilitation, invasive species removal, and aspen regeneration, the project extended protection to approximately 15,000 acres of ecosystems and safeguarded 27,601 acre-feet of water supply. Additionally, it significantly reduced wildfire risks to Yuba Water’s infrastructure, including the threat of post-fire debris surges that can damage waterways and structures.

Building on these successes, the North Yuba Forest Partnership was formed, welcoming additional collaborators, including the South Yuba River Citizens League, the Nevada City Rancheria, The Nature Conservancy, the Camptonville Community Partnership, and Sierra County alongside existing partners such as Yuba Water, National Forest Foundation, and the Tahoe National Forest. Together, these groups share a commitment to watershed resilience and are working on an unprecedented scale to plan, fund, and restore 275,000 acres in the North Yuba River watershed. The Yuba II FRB, an expansion of the initial bond, plays an important role in this larger effort across the watershed.

Walking the Beach Together: Collaboratively Building Economic Models

Collaborative economic analysis is foundational to WRI’s partnership with Blue Forest, crucial for engaging utilities, state agencies, and other beneficiaries. Instead of developing models behind closed doors, WRI works closely with each partner to create analyses specific to their needs. “We don’t bring pre-set answers. It’s about walking alongside them, exploring together,” explains Gartner, likening the process to “walking along the beach, picking up rocks together.”

Each ‘rock’ represents a specific, micro-level challenge or data point, and WRI collaborates with partners to create models that not only address these specifics but also contribute to larger, macro-level goals of regional resilience. They dig into decision-relevant questions, ensuring that every model reflects the revenue streams, costs, and risks that matter most to each partner. Beyond the numbers, WRI emphasizes relationship-building, transparency, and stakeholder involvement—acknowledging data limitations when relevant and fostering shared ownership and confidence in project goals.

Balancing Green and Gray Infrastructure

Over time, WRI has seen that true resilience isn’t a choice between green and gray infrastructure, it’s about integrating both. For many agencies, infrastructure planning centers on traditional engineering solutions: pipes, treatment plants, and precisely measured flow rates. But natural systems, such as forests and rivers, operate with complexities that don’t fit neatly into a ledger. WRI helps stakeholders across sectors recognize that nature isn’t separate from their infrastructure, but central to it.

“From snowtop to faucet and everything in between,” as Gartner puts it, “our water systems rely on both natural processes and engineered solutions working in harmony.”

Instead of simply building larger sewers or treatment plants to handle increased water flow, WRI encourages agencies to consider how natural solutions, like forests that absorb rainwater, can complement gray infrastructure. These natural processes help stabilize water flow, improve water quality, and reduce strain on built systems, all while facilitating cost-effective, lasting resilience and co-benefits, such as providing habitats for birds that also enrich our environment and enhance our connection to nature.

“Nature alone isn’t enough to meet our needs, and neither is built infrastructure,” Gartner explains. “But together, they create resilience that serves both the environment and the people who depend on it.”

This balanced approach not only conserves ecosystems but also maximizes the effectiveness and sustainability of transitional infrastructure investments.

Valuing Nature: A Path Forward

The FRB model reshapes how communities and organizations view conservation—not as an expense but as an investment in a resilient future. By making nature’s value visible, WRI and Blue Forest are creating a scalable blueprint for sustainable solutions that extend beyond the Yuba watershed. Together we are exploring and helping activate complementary projects in other landscapes, applying lessons learned to new regions and communities.

As WRI and Blue Forest continue our partnership, we’re inviting more allies, from utilities to local governments, and others, to recognize natural systems as essential infrastructure. Leveraging its global expertise, WRI works with Blue Forest to help regions make informed choices that strengthen both economies and ecosystems.

As Wobbrock puts it, “Economics helps all these rational parties make decisions that are in everyone’s interest. When we use it to guide decisions, we create a stronger, more resilient world for us all.”

Key photo courtesy of World Resources Institute.