The Project will take a comprehensive, three-pronged approach to strengthening ESG practices across firms, markets, and regulatory frameworks in Western Balkans, with a predominant focus on building capacity at the firm and market levels. By working simultaneously with companies, financial institutions, market intermediaries, and regulators, the Project aims to create lasting improvements in sustainability performance, unlock investment opportunities, and align local practices with international standards. At the firm level, the Project will support companies and financial institutions in strengthening their ESG practices through targeted capacity-building assistance. This may include structured programs such as ESMS, SME, and CG accelerators and/or tailored individual engagements, with the objective of improving ESG performance and supporting access to finance. At the market level, the Project will build the capacity of local intermediaries—such as consulting companies, training institutions, industry associations, and professional networks—to deliver high-quality ESG advisory services. By embedding knowledge and skills locally, the Project will help ensure that ESG capacity building continues after the Project ends, while also promoting IFC’s thought leadership and supporting gender diversity and inclusion in corporate leadership. At the regulatory level, the Project will collaborate with regulators, including central banks and capital market authorities; stock exchanges; industry and business associations to promote better ESG standards in the market.