Читаем Позитивные изменения. Том 1, №1 (2021). Positive changes. Volume 1, Issue 1 (2021) полностью

Позитивные изменения. Том 1, №1 (2021). Positive changes. Volume 1, Issue 1 (2021)

COMPASS: The Methodology for Comparing and Assessing Impact builds on the GIIN’s ongoing efforts to help impact investors integrate impact into decisions across their investment processes. COMPASS presents for the first time, a tested, widely accepted methodology to assess and, most critically, compare impact results. Since impact is inherently multi-dimensional and complex, this methodology is designed to offer investors insight into three critical impact performance figures: scale, pace, and efficiency. This research effort seeks to standardize the components for and process of impact performance analysis, describing each step of the analytic process the GIIN has developed that can be used for aggregate investment-, fund-, or portfolio-level analyses.

In November 2020, the GIIN released a first of its kind analytic methodology for understanding and comparing impact performance. This paper underwent a public comment period, which garnered feedback from 367 individuals representing over 150 organizations on the methodology, which can be found here. Many of these participants are GIIN Members, the current list of whom can be viewed here. COMPASS incorporates this feedback into this revised version of the methodology.

https://thegiin.org/research/publication/compass-the-methodology-for-comparing-and-assessing-impact

IMPACT INVESTING DECISION-MAKING: INSIGHTS ON FINANCIAL PERFORMANCE

2021, Global Impact Investing Network. Dean Hand, Sophia Sunderji, Noshin Nova, Indrani De

"Impact Investing Decision-making: Insights on Financial Performance" uncovers insights into financial performance and explores the increasing sophistication with which impact investors are approaching decision-making. Specifically, it finds that impact investors are applying a multi-dimensional approach to decision-making, considering impact objectives and impact risks alongside traditional factors such as financial return, financial risk, resource capacity, and liquidity constraints. Experienced impact investors exercise this dynamic approach to assess how they can most efficiently achieve their optimal impact and financial performance. This dynamic decision-making highlights growing maturation within the industry as impact investors are becoming more sophisticated in their approaches to performance management and capital allocation.

Drawing on data from six of the industry’s existing financial performance studies, this report also offers a synthesis of impact investment financial performance and additionally analyzes the GIIN’s 2020 Annual Impact Investor Survey responses of 161 impact investors seeking risk-adjusted, market-rate returns. This report also highlights practical examples of leading impact investors, including: Anthos Fund & Asset Management, IDP Foundation, Inc., Incofin Investment Management, UBS Global Wealth Management & UBS Optimus Foundation, and Vox Capital, offering an inside look at how various facets influence their decisions on capital allocation and performance management.

The report confirms earlier findings from the GIIN’s research around financial performance of private debt, private equity, and real assets and expands on this research to focus on various facets of impact investment performance, including risk, financial return, and impact.

https://thegiin.org/assets/Impact%20Investing%20Decision%20making_Insights%20on%20Financial%20Performance.pdf

NAVIGATING IMPACT MEASUREMENT AND MANAGEMENT HOW TO INTEGRATE IMPACT THROUGHOUT THE INVESTMENT JOURNEY

2021, European Venture Philanthropy Association.

Picón Martínez A., Gaggiotti G., Gianoncelli A.

This report summarises the main elements to be taken into account to measure and manage impact throughout the investment strategy and the investment process, linking each phase to the relevant steps of the EVPA five-step framework.

To clarify how the EVPA five-step process and other IMM initiatives are linked and complement each other, this publication also refers to different principles or standards throughout the investment journey, such as the Dimensions of impact of the Impact Management Project, the Operating Principles of Impact Management, the Principles of Social Value and the SDG Impact Standards.

https://evpa.eu.com/download/start/EVPA_Navigating_IMM_report_2021.pdf