Nepal is leading the way in benefit sharing with its Local Shares phenomenon that sees up to 10% of shares in hydropower developments set aside for purchase by people in affected communities. Local Shares have proven very popular, raising millions in equity for developers and creating local ownership and public support for hydropower projects. However, IFC’s study also found investors, among them women and others who are socially, economically and culturally disadvantaged, are facing undue risk as they sell assets or go into debt to purchase Local Shares without a full understanding of the risks and returns. The report makes several recommendations for regulators and developers to address these gaps.