The Practice
Stone Associates is a specialist E&S and Sustainability advisory practice built on more than two decades of frontline experience across development finance, infrastructure investment, and private equity. We are not a generalist consultancy. We work on transactions and portfolios where the E&S and ESG demands are genuinely complex — where standards are high, scrutiny is real, and the stakes, financial and environmental, matter.
We are trusted by some of the world's most demanding institutional investors precisely because we understand the environments they operate in — and because we have worked in them ourselves, at the most senior level, for over twenty years.
Environmental and Social Due Diligence (ESDD) aligned to IFC Performance Standards, EU Taxonomy, and DFI requirements
Environmental and Social Impact Assessment (ESIA)
Environmental and Social Management Systems (ESMS) and Management Plan (ESMP) development and advisory support
Sustainability strategy, framework development, and portfolio integration
Climate risk assessment and adaptation strategy
Action Plan (ESAP) development, monitoring, and supervision
Impact measurement, reporting, and Theory of Change development
Ongoing portfolio supervision and Annual Monitoring Report preparation
Board-level Sustainability advisory and capacity building
Nature-based solutions and biodiversity assessment
Supply chain risk assessment, human rights and labour risk screening
Nik Stone
Nik Stone is a Chartered Environmentalist (CEnv) and Member of the Institute of Sustainability and Environmental Professionals (MISEP) with over twenty years of international experience in environmental and social risk management across infrastructure, energy, agribusiness, and water.
Prior to founding Stone Associates, Nik served as E&S Director at British International Investment (BII), where he led E&S across infrastructure and real-sector investments including flagship Category A hydropower transactions in Uganda, Cameroon, and beyond. He subsequently served as Sustainability Director at Nala Renewables - the Trafigura and IFM joint venture - building the sustainability function from inception across a Eastern European, South America and South East Asian renewables portfolio.
Nik currently holds a contracted E&S Safeguards Specialist role with the International Finance Corporation (IFC), focused on Central and Eastern Europe, alongside his advisory work through Stone Associates.
He is Vice Chair of the Global Solar Council Skills Task Force and a regular speaker at conferences.
His project experience spans South Asia, Southeast Asia, Sub-Saharan Africa, the Middle East, and Central and Eastern Europe across hydropower, wind, solar, water infrastructure, agribusiness, and transmission and distribution.