Digital library on sustainable finance

THEME

REPORT TYPE

LANGUAGE

YEAR

 – 

search

REGION

TITLE

AUTHOR

PUBLISHED

LANGUAGES

TITLE Institutional Asset Owners: Approaches to Setting Social and Environmental Goals
AUTHOR Global impact Investing Network (GIIN)
PUBLISHED Jul 2021
LANGUAGES EN 
More

Summary

Institutional asset owners globally are increasingly including social and environmental considerations into their portfolios and investment strategies. In addition to growing client expectation, regulatory pressures and the reality of the effects of climate change are also increasing.


This policy brief identifies key challenges that institutional asset owners face when setting impact priorities and realised strategies for overcoming such difficulties, investigates both top-down and bottom-up approaches to setting targets, and offers routine steps for investors to define their social and environmental priorities within their investment process. Significant opportunities exists for using asset owner portfolios as leading tools that serve their stakeholders, the planet and society at large.

Link

TITLE Impact Report 2020: SME Finance Loans for Growth
AUTHOR Symbiotics, State Secretariat for Economic Affairs (SECO)
PUBLISHED Jul 2021
LANGUAGES EN 
More

Summary

This impact report aims to measure the extent to which the Loans for Growth (LFG) fund meets its objectives to foster job creation, employment and entrepreneurship in emerging and frontier markets through small and medium enterprise (SME) finance. The LFG fund, launched in September 2016 and closed in September 2020, provided financing to SMEs by investing in local, specialized financial institutions. Over four years, the fund invested in 42 financial institutions across 24 countries
worldwide.

This is the final report in a series of four annual impact reports that follow a sample of enterprises financed by the LFG fund. The presented outcomes are based on surveys with 924 SMEs in 12 low and middle income countries between 2017 and 2020. Due to the global covid pandemic in 2020, many SMEs suffered losses, however over the course of the four years of investment there was a clear positive trend in outcomes: asset size, proportion of women employed and average wage rates.

Link

TITLE A Legal Framework for Impact: Sustainability impact in investor decision-making
AUTHOR PRI, Freshfields Bruckhaus Deringer, UNEP FI, generation foundation
PUBLISHED Jul 2021
LANGUAGES EN 
More

Summary

As part of a joint programme on "A Legal Framework for Impact", the PRI, UNEP FI and The Generation Foundation commissioned a legal analysis to determine the extent to which legal frameworks enable investors to consider impact in their activities across 11 jurisdictions: the EU, Australia, Brazil, Canada, China, France, Japan, South Africa, the Netherlands, UK and the US.

The report, authored by Freshfields Bruckhaus Deringer, found that while there are differences across jurisdictions and investor groups, where investing for sustainability impact approaches can be effective in achieving an investor’s financial goals, the investor will likely be required to consider using them and act accordingly.

It also provides an extensive suite of options for policymakers wishing to facilitate investing for sustainability impact, including changing investors’ legal duties and discretions, such as allowing the pursuit of sustainability goals as long as financial return goals are prioritised, and a presumption in favour of investor collaboration in tackling sustainability challenges.

Link

TITLE Gender & Climate Investment: A strategy for unlocking a sustainable future
AUTHOR GenderSmart
PUBLISHED Feb 2021
LANGUAGES EN 
More

Summary

While sustainable investing is no longer a new kid on the block, investment strategies that take an integrated gender and climate lens to investment decisions are still relatively new. This report highlights five foundational reasons for gender and climate investing. It showcases how this can be applied through three deep-dive sectoral analyses in energy, agriculture and infrastructure.

Link

TITLE Impact investments: a call for (re)orientation
AUTHOR Timo Busch, Peter Bruce-Clark, Jeroen Derwall, Robert Eccles, Tessa Hebb, Andreas Hoepner, Christian Klein, Philipp Krueger, Falko Paetzold, Bert Scholtens & Olaf Weber
PUBLISHED Jan 2021
LANGUAGES EN 
More

Summary

This academic article offers an examination of the different different terms used to describe investments in the sustainability context, particularly  of the impact investment terminology and its different definition. 

To offer (re-)orientation from an academic perspective, the authors derive a new typology of sustainable investments. This typology delivers a precise definition of what impact investments are and what they should cover and proposes distinguishing between impact-aligned investments and impact-generating investments. Based on these insights, the authors hope to lay the foundation for future research and debates in the field of impact investing by practitioners, policymakers, and academics alike.

Link

TITLE Impact Investing Decision-making: Insights on Financial Performance
AUTHOR Global Impact Investing Network (GIIN)
PUBLISHED Jan 2021
LANGUAGES EN 
More

Summary

This report explores the increasing sophistication with which impact investors are approaching decision-making and provides insights into financial performance. Specifically, it finds that impact investing is showing signs of maturing, with investors exercising a multi-dimensional approach to their decision-making to achieve satisfactory financial and impact performance in line with their goals.

Drawing on data from six of the industry’s existing financial performance studies, the 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.

Link

TITLE Welche transformativen Wirkungen können nachhaltige Geldanlagen durch Verbraucherinnen und Verbraucher haben?
AUTHOR Marco Wilkens & Christian Klein
PUBLISHED Jan 2021
LANGUAGES DE 
More

Summary

Dieses Gutachten im Auftrag des vzbv argumentiert, dass nachhaltig beworbene Geldanlagen nicht automatisch zu mehr Nachhaltigkeit führen. Zwar können nachhaltige Geldanlagen durchaus eine positive Wirkung entfalten, wahrscheinlicher sind dabei allerdngs indirekte Effekte, zum Beispiel, wenn Verbraucher über eine Geldanlage für das Thema Nachhaltigkeit sensibilisiert werden. Direkte Effekte über den Kapitalmarkt sind möglich, aktuell aber kaum nachweisbar. Prinzipiell können sie über einen Verzicht auf Rendite durch Verbraucher erreicht werden, zum Beispiel, wenn in Folge der Geldanlage in bisher nicht rentable regenerative Energien investiert wird. Angebote der Finanzindustrie, die mit einem direkten Beitrag ihrer Anlageprodukte zu bestimmten Nachhaltigkeitszielen werben, und zugleich marktübliche Renditen versprechen, müssten demnach kritisch hinterfragt werden.

Link

TITLE The Investor’s Guide to Impact. Evidence-based advice for investors who want to change the world
AUTHOR Florian Heeb & Julian Kölbel (Center for Sustainable Finance and Private Wealth, UZH)
PUBLISHED Oct 2020
LANGUAGES EN 
More

Summary

This guide aims to support investors in developing an evidence-based impact strategy for their entire portfolio. Based on available evidence, it recommends investors enable impactful companies to grow by considering impact in their investment decision and fund manager selection, to encourage improvement by screening out companies and engaging with investees, and to influence the public discourse by being vocal about what you do.

Link

TITLE Private Asset Impact Fund Report 2020
AUTHOR Symbiotics & Canopy
PUBLISHED Oct 2020
LANGUAGES EN 
More

Summary

This report is an analysis of over 150 investment funds that target emerging and frontier markets with a development impact focus. It builds on the previous impact fund surveys Symbiotics has developed, on microfinance investment vehicles (MIVs) initiated in 2007 with CGAP/World Bank, and on private debt impact funds (PDIFs) initiated in 2018 with the GIIN.

The survey brings a very comprehensive data set including funds affiliated to nearly 80 managers in 26 countries. It also sheds light on the business model of private asset impact funds (PAIFs), including their balance sheet structure, investment instruments, investee type, geography of investments, investor composition, risk, return and impact performance. It also offers multi-year analysis on microfinance funds, dating back to 2006.

Link

TITLE Annual Impact Investor Survey 2020
AUTHOR Global Impact Investing Network (GIIN)
PUBLISHED Jun 2020
LANGUAGES EN 
More

Summary

The 10th edition of the Annual Impact Investor Survey provides a comprehensive overview of the impact investing market. The survey covers 294 impact investors who collectively manage USD 404 bn of impact investing assets, thus representing a significant part of the  global impact investing market (valued at about USD 715 bn).

The report looks at respondents’ investment activity during 2019 and their plans for 2020, market developments over the past decade, and challenges the market is facing going forward. Respondents also shared insights on how COVID-19 might affect their activities.

The report also includes:

  • An updated market sizing analysis, which estimates the current market size at USD 715 billion;
  • Trends analysis of 79 repeat Survey respondents, to show changes and trends over time;
  • Insights on topics such as climate investing, catalytic capital, the evolution of impact measurement and management practices, and policy developments over the past decade.

Link

TITLE White Paper: How to increase family office engagement in impact investing
AUTHOR Bertelsmann Stiftung
PUBLISHED Apr 2020
LANGUAGES EN 
More

Summary

In this white paper, Bertelsmann Stiftung takes stock of where families and family offices stand when it comes to impact investing. They identify a number of both perceived and real barriers in the shift to impact investing and lay out specific recommendations for how families and family offices may overcome these barriers. Their recommendations include communication within the family setting, building one’s internal team, the development of a solid strategy, improved open communication with peers, selection of good supporting advisor(s), pooling of resources and management of transaction costs, and finally, the willingness to get started.

Download

White Paper_Increasing Family Office Engagement in Impact Investing_July2020 (pdf 581.3 kB)
TITLE The State of Impact Measurement and Management Practice: Second Edition
AUTHOR Global Impact Investing Network (GIIN)
PUBLISHED Jan 2020
LANGUAGES EN 
More

Summary

The second edition of the State of Impact Measurement and Management Practice reflects the increased sophistication and maturation of impact measurement and management (IMM) practices since the release of the survey’s first edition in 2017.

Based on data from 278 impact investors—including 109 two-year repeat respondents—this report provides the most comprehensive view of how impact investors assess their social and environmental impact, and the trends that have shaped IMM practices in the past two years. The report indicates that impact investors universally agree that IMM is imperative and it underscores how investors are increasingly focused on driving greater impact results.

Link

TITLE Swiss Microfinance & Impact Investments Report
AUTHOR Symbiotics & SECO
PUBLISHED Oct 2019
LANGUAGES EN 
More

Summary

This paper reviews the evolution of private-sector development finance in Switzerland from 2010 to 2018. It analyzes the contribution of Swiss managers specialized in impact investing towards the financing of Sustainable Development Goals (SDGs), focusing on the historical growth of their assets under management and the variety of products on offer.

The report is a follow up to the Swiss Microfinance Investments Report 2015 published by Symbiotics.

Link

TITLE 2019 Annual Impact Investor Survey
AUTHOR Global Impact Investing Network (GIIN)
PUBLISHED Jun 2019
LANGUAGES EN 
More

Summary

The ninth edition of the Annual Impact Investor Survey demonstrates the increasing scale and maturity of the impact investing industry. The report draws on responses from 266 leading impact investing organizations from around the world, including: fund managers, foundations, banks, development finance institutions, family offices, permanent investment companies, pension funds, and others. These respondents collectively manage USD 239 billion, a subset of the total USD 502 billion in the market.

Link

TITLE Sizing the Impact Investing Market
AUTHOR Global Impact Investing Network (GIIN)
PUBLISHED Apr 2019
LANGUAGES EN 
More

Summary

The Global Impact Investing Network’s Sizing the Impact Investing Market report provides an in-depth analysis of the current size and composition of the impact investing market. The GIIN estimates the current size of the global impact investing market to be $502 billion.

Based on the collation of AUM data on more than 1,300 impact investors around the world, this research also underscores the diversity of the market, capturing data from many types of investors. These include asset managers, foundations, banks, development finance institutions, family offices, pension funds, insurance companies, and others.

Link

TITLE Social Impact Investment 2019. The Impact Imperative for Sustainable Development.
AUTHOR OECD
PUBLISHED Jan 2019
LANGUAGES EN 
More

Summary

This publication is a sequel to the OECD 2015 report on Social Impact Investment (SII), Building the Evidence Base, bringing new evidence on the role of SII in financing sustainable development. It depicts the state of play of SII approaches globally, comparing regional trends, and assesses its prospects, with a special focus on data issues and recent policy developments.

Importantly, it provides new guidance for policy makers in OECD and non-OECD countries, as well as providers of development co-operation, development financers, social impact investment practitioners and the private sector more broadly, to help them maximise the contribution of social impact investing to the 2030 Agenda.

Link

TITLE Rethinking Impact to Finance the SDGs
AUTHOR UNEP Finance Initiative
PUBLISHED Nov 2018
LANGUAGES EN 
More

Summary

The paper reviews the scope and nature of the financing gap for sustainable development and the Sustainable Development Goals (SDGs) in order to propose new solutions for finance, business and a broader set of stakeholders. It builds on the Positive Impact Initiative’s earlier Manifesto (2015) and Principles for Positive Impact Finance (2017), clarifying the concepts of impact-based business models, impact-based economy and holistic impact analysis

Link

TITLE Financing the Sustainable Development Goals: Impact Investing in Action
AUTHOR Global Impact Investing Network (GIIN)
PUBLISHED Sep 2018
LANGUAGES EN 
More

Summary

This report reiterates the need for impact investors to raise and direct new capital to help meet the Sustainable Development Goals by 2030 and showcases how select impact investors are taking action.

The compendium of five case studies describes how the goals can be woven into the various stages of the investment cycle, as well as investors’ motivations for doing so, advice for other investors, and outlook for the industry. 

Link

TITLE Impact investing market map
AUTHOR Principles for Responsible Investsment (PRI)
PUBLISHED Aug 2018
LANGUAGES EN 
More

Summary

The impact investing market map is designed to offer guidance and best practice on what constitutes an impact investment. It focuses on medium and large impact investing companies in the real economy and contains information (definitions, criteria, KPIs) on 10 thematic investments themes that contribute to sustainability and the SDGs.

The resource aims to bring more clarity to the process of identifying mainstream impact investing companies and thematic investments so that asset owners and fund managers can better assess opportunities in this market.

Link

TITLE Behind the Scenes of Impact Investment Policy-Making
AUTHOR World Economic Forum
PUBLISHED Aug 2018
LANGUAGES EN 
More

Summary

This paper provides a snapshot of impact investment policy-making. Its purpose is to share real reflections from governments across the world and foster more collaboration on the way that policy in this area is designed and delivered.

Using evidence from over 50 interviews with policy-makers, civil society and private sector stakeholders across 17 countries, the paper provides a number of practical examples and first-hand reflections on how governments can be more effective in designing policy to support impact investing and helping this nascent market develop.

Link

TITLE 2018 Annual Impact Investor Survey
AUTHOR Global Impact Investing Network (GIIN)
PUBLISHED Jun 2018
LANGUAGES EN 
More

Summary

This report presents findings from the Global Impact Investing Network’s eighth Annual Impact Investor Survey. These findings reflect 229 respondents’ perspectives on the growth and development of the impact investing industry. The report includes analysis of respondents’ investment activity, asset allocations, impact measurement practices, and performance. For the first time, the report also presents trends analysis for a subset of 82 respondents that participated in the survey in 2013 and again this year. Major market developments over the course of 2017 are also described throughout the report. Key Findings:

  1. The market is diverse
  2. The impact investing industry is growing
  3. Impact investors demonstrate a strong commitment to measuring and managing impact
  4. Overwhelmingly, impact investors report performance in line with both financial and impact expectations
  5. Impact investors acknowledge remaining challenges that need to be addressed within the industry

Link

TITLE Impact Investing: At a Tipping Point?
AUTHOR Fidelity Charitable
PUBLISHED Jun 2018
LANGUAGES EN 
More

Summary

This 2018 briefing provides data gathered from a survey of affluent and high-net-worth people who give to charity to understand their interest in, knowledge of and experience with impact investing. Impact investing is catching on, particularly with Generation X and Millennials. However, the terminology of impact investing is not yet well known or understood—even by those who are making investments that can be categorized as impact investments.  Investors are interested in both simple and sophisticated options for impact investing. Basic education on impact investing and guidance from financial advisors would most encourage investors to make an impact investment. Investors would consider making impact investments with assets set aside for retirement, for charitable giving or for other purposes. There is an opportunity for financial advisors to initiate a conversation about impact investing and provide much needed and valued expertise. Also, there is a gender gap in impact investing.

Link

TITLE Roadmap for the Future of Impact Investing: Reshaping Financial Markets
AUTHOR Global Impact Investing Network (GIIN)
PUBLISHED Mar 2018
LANGUAGES EN 
More

Summary

The Roadmap presents a vision for more inclusive and sustainable financial markets and articulates a plan for impact investing to lead progress toward this future. Specifically, the Roadmap details six categories of action to drive progress toward the vision. For each category, the Roadmap describes specific actions needed, which stakeholders should lead on these actions, and a timeframe. Enacting the plan will require collective action by leaders from the entire impact investing ecosystem.

Link

TITLE Mobilizing private wealth for public good
AUTHOR UBS
PUBLISHED Jan 2018
LANGUAGES EN 
More

Summary

The UBS whitepaper constitutes a blueprint for directing private capital towards the SDGs. It points out the specific SDGs where private wealth can play a larger role, which are zero hunger; quality education; good health and well being; affordable and clean energy; industry, innovation and infrastructure; and climate action. Yet, in order to attract the needed investment the transparency of data ought to be increased to facilitate the identification of investment opportunities.

Link

TITLE Social Impact Bonds – ein Leitfaden für die Praxis
AUTHOR seif and BHP Brugger und Partner AG
PUBLISHED Jan 2018
LANGUAGES DE 
More

Summary

This document gives a explanation of Social impact bonds and provides the reader with a historical perspective on the investment vehicle. Furthermore it describes current best practices as well as difficult experiences with regards to Social Impact Bonds (SIBs) in a European environment. With this German publication, authors hope to initiate a discussion on both the risks an opportunities of issuing SIBs in Switzerland.

Link

Showing 1 - 25 of 70 Reports

Login for Members

Incorrect username or password. Please try again or send email to info@sustainablefinance.ch for support.