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IFC transfers global impact investment framework to Global Impact Investing Network – Pensions & Investments

A global framework for integrating impact into investments will now be hosted by the Global Impact Investing Network, following a transfer agreement with the International Finance Corp., the organizations said in a joint release Fr…….

A global framework for integrating impact into investments will now be hosted by the Global Impact Investing Network, following a transfer agreement with the International Finance Corp., the organizations said in a joint release Friday.

IFC, part of the World Bank Group, is the largest global development institution focused on the private sector in emerging markets.

Signatories to the Operating Principles for Impact Management, including Neuberger Berman, Albright Capital Management and the A$2 billion ($1.3 billion) superannuation fund Christian Super, Sydney, approved the transfer of the secretariat that is expected to be completed by the end of the year.

The Impact Principles framework now has 163 signatories in 38 countries with a collective $470 billion in impact assets. “The time is right for the hosting of the Secretariat to move closer to the market, and the GIIN offers that increased proximity to hundreds of market participants globally,” Susan Lund, IFC vice president for economics and private sector development, said in the release.

The framework is aimed at ensuring that impact considerations are integrated throughout the full life cycle of an investment, and has become a market standard for impact investors. The transfer to the GIIN “is an important signal of the increasing impact investing industry cohesion that the GIIN has always worked to foster,” Amit Bouri, co-founder and CEO of GIIN, said in the release.

“We are confident that impact investors and the signatories of the Impact Principles will benefit from having the generally accepted impact frameworks, methodologies, and benchmarks all in the same place.”

The original arrangement of managing them through an independent secretariat will continue, and operations will remain unchanged, the organizations said.

“As demand for impact investing offerings skyrockets and regulation emerges, growing alignment around industry standards will ensure that much-needed investment capital is being directed to scale up the most effective solutions and deliver the strongest results to address our world’s most urgent challenges,” Mr. Bouri said.

Source: https://www.pionline.com/esg/ifc-transfers-global-impact-investment-framework-global-impact-investing-network

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