IMPACT MEASUREMENT STANDARDS
A
listing of some of the main independent, comprehensive and transparent standards relevant to established companies/funds/initiatives
as well as new ventures that intend to combine financial profit with positive environmental and social impacts. There is growing
recognition of the need to unite standards and reporting frameworks in a market driven collaborative process to improve credibility.
The G20 has been suggested as an appropriate forum for catalysing greater coordination as any solution will only be sustainable
if it is global. Much of the discussion around impact investing is guided by NGOs and UN bodies.
Ratings & Rankings
B Impact Rating System. Developed by the B Lab, this comprises two parts: 1) the B Impact Assessment, a free online tool for assessing overall corporate social and environmental performance over 5 impact areas; 2) the B Impact
Report, a one page report companies receive after completing the assessment. B Lab aims to create a new sector of the economy
comprised of a new type of company - the certified B Corporation - which integrate social and environmental performance into
objectives.The B Impact Ratings System is used to both certify B Corporations and generate GIIRS ratings (see below).
The 'Rate the Raters' report from the consultancy SustainAbility lists over 100 raters of corporate sustainability practices.
Metrics
Global Impact Investing Rating System (GIIRS). A project of B Lab that rates the social and environmental impact of established funds. GIIRS Impact Assessments incorporate
IRIS metrics (see below) into the assessment framework. The GIIRS annual impact assessment includes a comprehensive set of
required fields that are relative to organisation size, sector and region. Validations by the GIIRS are supported by an independent
third party evaluation.
ISO26000. Governed by ISO International. Although it cannot be certified to ISO26000 provides clarity about what CSR is and assists
with translating CSR principles into actions regardless of organisation type, size, activity and location. The standard is
available for purchase though it can be previewed through an online browsing platform. ISO26000 is the culmination of a lengthy
global consultation process and represents an international consensus between government, civil society, industry and commerce.
Reporting
The Impact Reporting and Investment Standard (IRIS). Governed by the Global Impact Investment Network (GIIN). A reporting standard consisting of a set of standardised metrics that can be used to describe the social, environmental and
financial performance of new impact investment ventures post investment. Using IRIS to measure impact before getting GIIRS-rated
will save time during the GIIRS rating process. The IRIS is intended to facilitate an organisation meet its envrionmental
and social objectives. It does not require the use of certain metrics rather organisations select their own metrics and self-report
to the IRIS initiative. The GIIN also administers ImpactBase, a pay to view database of impact investment funds and products designed for investors.
Global Reporting Initiative (GRI). The GRI has emerged as the leading sustainability reporting standard although the rigour with which GRI is followed varies
substantially. The GRI reporting framework is freely available as are the reports as are the reports produced by companies
using it. It enables any organisation to measure and report their economic, social, environmental and governance performance.
Financial services are the leaders in GRI reporting.
OTHER SOCIAL
& IMPACT INVESTMENT BODIES
Social Return on Investment (SROI) Network Membership based with a searchable open access directory of members and online resources including case studies and
publications.
Social Impact Analysts Association (SIAA) Membership based with an open access list of members and online resource centre.
MaRS Centre for Impact Investing A Canadian based initiative providing resources and thought pieces.
EUROSIF UKSIF(UK) Social Investment Organisation (Canada)
Social Investment Forum (USA) ASrIA (Asia)
RIAA (Australia and NZ) AfricaSIF
ONLINE MEDIA
Beyond Profit A social enterprise magazine that discusses business solutions to global social problems.
CSRWire A popular membership based Corporate Social Reponsibility Newswire.
Climate Funds Update A sector-leading online tool to track and analyse flows of climate finance.
Ethical Markets Media A comprehensive multi-media site for sustainable finance.
The Market Oracle A Financial Markets Analysis & Forecasting online publication.
YourSRI An online database of SRI corporate, product and service information.
novethic A French research centre focused on Corporate Social Responsibility (CSR) and Socially Responsible Investment (SRI).
Charity SRI A free comprehensive online resource to help chariites align their investments with their mission.
Clear Profit A free e-newsletter for responsible investors.
Alliance Magazine A magazine for worldwide philanthropy and social investments that offers some free subscriptions and a free eNewsletter.
Green Money Journal An educational EJournal covering sustainable business and investing.
MISC.
App-X A provider of web based software solutions for Alternative Asset Fund Managers, Institutional Investors and Impact Investors.
