Facing a lack of political support, at least in the US, the impact investing ecosystem has made a concerted effort to strengthen reporting standards in recent months and lay a solid foundation for the years ahead.
The response has been encouraging, with scores of investors and managers signing up to new frameworks and measuring services, but the reach has yet to extend far beyond the impact-focused corner of the market.
Last month, Impact Frontiers disclosed the names of the 40 “Founding Adopters” of its Impact Performance Reporting Norms. It has enrolled more organisations since then, bringing the number of adopters to 59, and says it is confident it will sign more in the weeks ahead.
Among the adopters are prominent LPs like Mercer, one of the four operating subsidiaries of professional services firm Marsh McLennan, and two major institutional investors from Japan, agricultural lender Norinchukin Bank and insurance company Tokio Marine.
Many of the other adopters, both among LPs and GPs, hail from the world of impact investing, including Blue Haven Initiative, a prominent impact investing family office, and the Schmidt Family Foundation, which was co-founded by billionaire and former Google CEO Eric Schmidt.
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