Impact Management | March 17, 2021

IFC and The GIIN release harmonized impact standards

Amy Cortese
ImpactAlpha Editor

Amy Cortese

ImpactAlpha, March 17 – As impact investing goes mainstream, the need for a common set of metrics to measure and compare companies’ impact has become more urgent.

The release of the Joint Impact Indicators by the Global Impact Investing Network and the IFC, the impact world takes another step towards that goal. The JII brings together a subset of The GIIN’s IRIS Catalog of Metrics and IFC’s Harmonized Indicators for Private Sector Operations (HIPSO) covering gender, equality, jobs, and climate.

The indicators are aligned with the Operating Principles for Impact Management, a framework launched in 2019 and adopted by nearly 120 financial institutions. The organizations see them as a first step, with further alignment expected in the coming weeks. 

Impact merger

The Tipping Point Fund on Impact Investing awarded a combined $500,000 in grants to the International Integrating Reporting Council and the Sustainability Accounting Standards Board nonprofit organizations working.

The funding will support a merger of the two organizations, which both promote integrated reporting and sustainability disclosure for corporations, into a new entity, the Value Reporting Foundation. “IIRC and SASB will be able to take their work to the next level and bring the impact investing market one step closer to a unified ESG reporting disclosure and standards system,” said TPF’s Jessie Duncan.