“In the recent publication, the committee reviewed several proposals aimed at improving urban sustainability. While the majority favored the initiative led by the Green Future Foundation, it was the economic feasibility report submitted by the independent consultants that ultimately influenced their decision. Despite some reservations, the board members acknowledged that it was comprehensive and thoroughly researched, lending credibility to the project”.

In the sentence “Despite some reservations, the board members acknowledged that it was comprehensive and thoroughly researched, lending credibility to the project”, the pronoun “it” most logically refers to: