{"product_id":"global-handbook-of-impact-investing-isbn-9781119690641","title":"Global Handbook of Impact Investing","description":"\u003cp\u003e\u003cb\u003eDiscover how to invest your capital to achieve a powerful, lasting impact on the world.\u003cbr\u003e\u003c\/b\u003e\u003ci\u003eThe Global Handbook of Impact Investing: Solving Global Problems Via Smarter Capital Markets Towards A More Sustainable Society\u003c\/i\u003e is an insightful guide to the growing world-wide movement of Impact Investing. Impact investors seek to realize lasting, beneficial improvements in society by allocating capital to sources of impactful and sustainable profit. \u003c\/p\u003e \u003cp\u003eThis Handbook is a how-to guide for institutional investors, including family offices, foundations, endowments, governments, and international organizations, as well as academics, students, and everyday investors globally. The Handbook´s wide-ranging contributions from around the world make a powerful case for positive impact and profit to fund substantive, lasting solutions that solve critical problems across the world.\u003c\/p\u003e \u003cp\u003eEdited by two experienced and distinguished professionals in the sustainable investing arena and authored by two dozen renowned experts from finance, academia, and multilateral organizations from around the world, the \u003ci\u003eGlobal Handbook of Impact Investing\u003c\/i\u003e educates, inspires, and spurs action towards more responsible investing across all asset classes, resulting in smarter capital markets, including how to: \u003c\/p\u003e \u003cp\u003e·         Realize positive impact and profit\u003c\/p\u003e \u003cp\u003e·         Integrate impact into investment decision-making and portfolio \u003c\/p\u003e \u003cp\u003e·         Allocate impactful investments across all asset classes\u003c\/p\u003e \u003cp\u003e·         Apply unique Impact Investing frameworks \u003c\/p\u003e \u003cp\u003e·         Measure, evaluate and report on impact\u003c\/p\u003e \u003cp\u003e·         Learn from case examples around the globe\u003c\/p\u003e \u003cp\u003e·         Pursue Best Practices in Impact Investing and impact reporting \u003c\/p\u003e \u003cp\u003e While other resources may take a local or limited approach to the subject, this Handbook gathers global knowledge and results from public and private institutions spanning five continents. The authors also make a powerful case for the ability of Impact Investing to lead to substantive and lasting change that addresses critical problems across the world.\u003c\/p\u003e \u003cp\u003eForeword by \u003ci\u003eJustin Rockefeller\u003c\/i\u003e xxxi\u003c\/p\u003e \u003cp\u003eAcknowledgments xlv\u003c\/p\u003e \u003cp\u003eAbout the Contributors xlvii\u003c\/p\u003e \u003cp\u003eAcronyms and Abbreviations lxi\u003c\/p\u003e \u003cp\u003eIntroduction 1\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 1 Impact Investing: Innovation or Rebranding? 9\u003cbr\u003e\u003c\/b\u003e\u003ci\u003eHaifa Ben Abid, MPhil\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eIntroduction 10\u003c\/p\u003e \u003cp\u003eMethodology 11\u003c\/p\u003e \u003cp\u003eImpact Investing: Clarifying the Concept 13\u003c\/p\u003e \u003cp\u003eTypes of Impact Investing: Financial-First versus Impact-First 15\u003c\/p\u003e \u003cp\u003eImpact Investing: A Response to a Changing Investment Environment 18\u003c\/p\u003e \u003cp\u003eChanging Demographics: Investment Practices Among Millennials 18\u003c\/p\u003e \u003cp\u003eA Global, Multibillion-Dollar Market 20\u003c\/p\u003e \u003cp\u003eMechanisms for Institutionalization 21\u003c\/p\u003e \u003cp\u003eKey Features of Impact Investing 22\u003c\/p\u003e \u003cp\u003eRefining the “Good” Return: Financial and Social Considerations 24\u003c\/p\u003e \u003cp\u003eHelping Investors “Walk the Walk”: Aligning Mission, Values, and Investments 24\u003c\/p\u003e \u003cp\u003eA Prudent Entrepreneurial Spirit: Experimentation and Mitigating Risks 25\u003c\/p\u003e \u003cp\u003eImpact Investing: Leverage for Development? 25\u003c\/p\u003e \u003cp\u003eConclusion 28\u003c\/p\u003e \u003cp\u003eReferences 29\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 2 Investing for Impact: Socially Motivated Investors and Externalities 37\u003cbr\u003e\u003c\/b\u003e\u003ci\u003eRaghavan Narayanan, MBA and Stoyan V. Tenev PhD\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eIntroduction 38\u003c\/p\u003e \u003cp\u003eA Conceptual Framework for Socially Motivated Investment Behavior 39\u003c\/p\u003e \u003cp\u003eTypology of Socially Motivated Investors 43\u003c\/p\u003e \u003cp\u003eImpact Investing 52\u003c\/p\u003e \u003cp\u003eConclusion 56\u003c\/p\u003e \u003cp\u003eReferences 58\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 3 Place-Based Impact Investing: Local and Regional Assets for Local and Regional Impact in Globally Diversified Portfolios 61\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eIntroduction 62\u003c\/p\u003e \u003cp\u003eTargeting Impact Through Place-Based Impact Investing 66\u003c\/p\u003e \u003cp\u003eConstructing Institutional Place-Based Impact Investing Portfolios 71\u003c\/p\u003e \u003cp\u003eThe Bay Area Model Equity Strategy 74\u003c\/p\u003e \u003cp\u003eThe US Community Investing Index, by the F. B. Heron Foundation 77\u003c\/p\u003e \u003cp\u003eCreating Investable Opportunities for Sustainable and Resilient Communities Through Inclusive Community Engagement 81\u003c\/p\u003e \u003cp\u003eCapital Stacks: Financing Local and Regional Projects 88\u003c\/p\u003e \u003cp\u003eGlobal Examples of Place-Based Impact Investing Success 93\u003c\/p\u003e \u003cp\u003eFinal Remarks and Key Conclusions 98\u003c\/p\u003e \u003cp\u003eReferences 99\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 4 How to Invest in Human Capital: Measuring and Integrating Human Capital Valuation to Realize Higher-Impact Portfolios 103\u003cbr\u003e\u003c\/b\u003e\u003ci\u003eR. Paul Herman, BSci and Kirstin Dougall, MFA\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eWhy Impact Investors Should Care About Human Capital Valuation 104\u003c\/p\u003e \u003cp\u003eMethodology 105\u003c\/p\u003e \u003cp\u003eMeasuring the Contribution of Human Capital to Returns 106\u003c\/p\u003e \u003cp\u003eHuman Capital Valuation Methods 107\u003c\/p\u003e \u003cp\u003eInvestor Methods for Capturing Monetary HCV 109\u003c\/p\u003e \u003cp\u003eThe Heritage of Monetary Human Capital Valuation Methods 109\u003c\/p\u003e \u003cp\u003eInvestment Strategies Using Monetary HCV 110\u003c\/p\u003e \u003cp\u003eNon-Monetary Human Capital Valuation for Impact Investors 111\u003c\/p\u003e \u003cp\u003eExemplary Ratings Systems That Feature Human Capital Valuation 111\u003c\/p\u003e \u003cp\u003eNon-Monetary Human Capital Metrics That Impact Investors Can Use in Custom Analyses 112\u003c\/p\u003e \u003cp\u003eEmployee Participation 114\u003c\/p\u003e \u003cp\u003eIncorporating Data from Human Resources Management Systems 115\u003c\/p\u003e \u003cp\u003eStandards for Human Capital Valuation 115\u003c\/p\u003e \u003cp\u003eIntegrating Human Capital into the Investment Process 118\u003c\/p\u003e \u003cp\u003eExamples of Human Capital Valuation Applied in Impact Investing 118\u003c\/p\u003e \u003cp\u003e\u003ci\u003eExamples: Monetary Human Capital Valuation in Action \u003c\/i\u003e119\u003c\/p\u003e \u003cp\u003eMonetary HCV Example: Asian Company “BroadTek” Uses Human Capital Financial Statements to Calculate Returns on Workforce Investments 119\u003c\/p\u003e \u003cp\u003eMonetary HCV Example: Global Technology Company Infosys Uses Present Value of Compensation Method to Calculate Returns on Workforce Investments 119\u003c\/p\u003e \u003cp\u003eExample: Being a Global “Great Place to Work®” Creates Higher Growth 122\u003c\/p\u003e \u003cp\u003eNon-Monetary HCV Example: Indian Company HCL Technologies’ “Employees First, Customers Second”\u003c\/p\u003e \u003cp\u003eInitiative Leads to Higher Growth and Economic Resilience 123\u003c\/p\u003e \u003cp\u003eExamples: Using Standards to Assess Whether Companies Value Human Capital 123\u003c\/p\u003e \u003cp\u003eHCV Standards Example: How Novartis Used the “Social and Human Capital Protocol” to Calculate the Economic Value of Improving Health Across Africa 125\u003c\/p\u003e \u003cp\u003eHCV Standards Example: French Automaker Groupe PSA Demonstrates How Human Capital Contributes to Their Value Chain Using the International Integrated Reporting Framework 125\u003c\/p\u003e \u003cp\u003eHCV Standards Example: Managers of Australian Retirement Fund Assess and Adjust Holdings Using GRI Human Capital Guidelines 126\u003c\/p\u003e \u003cp\u003eStock Indexes and Funds Built on Human Capital Metrics 128\u003c\/p\u003e \u003cp\u003eLooking Forward: New Human Capital Valuation Reporting Will Make Impact Investing Easier 130\u003c\/p\u003e \u003cp\u003eAn Investor’s Action Plan for Human Capital Valuation 131\u003c\/p\u003e \u003cp\u003eConclusion 133\u003c\/p\u003e \u003cp\u003eFurther Reading for Impact Investors 134\u003c\/p\u003e \u003cp\u003eReferences 135\u003c\/p\u003e \u003cp\u003eAppendix 4.1: Experts Interviewed 141\u003c\/p\u003e \u003cp\u003eAppendix 4.2: Human Capital Management Institute Monetary Human Capital Valuation Formulas 142\u003c\/p\u003e \u003cp\u003eAppendix 4.3: Human Capital Valuation Ratings Systems 143\u003c\/p\u003e \u003cp\u003eAppendix 4.4: Human Resource Metrics and Where to Find Them 146\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 5 Leadership by Results for Impact Investors and Investees 147\u003cbr\u003e\u003c\/b\u003e\u003ci\u003eRajen Makhijani, MBA\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eIntroduction 148\u003c\/p\u003e \u003cp\u003eThe Impact Sector Underinvests in Leaders 151\u003c\/p\u003e \u003cp\u003eThe “Leadership by Results” Approach 154\u003c\/p\u003e \u003cp\u003eThree Practical Frameworks and an Example 168\u003c\/p\u003e \u003cp\u003eTranslation of Goal Achievements into Returns on Investment 181\u003c\/p\u003e \u003cp\u003eConclusion 190\u003c\/p\u003e \u003cp\u003eReferences 192\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 6 Gender Lens Investing: Co-Creating Critical Knowledge to Build a Credible, Durable Field 195\u003cbr\u003e\u003c\/b\u003e\u003ci\u003eEdward T. Jackson, OMC, EdD and Elsa de Morais Sarmento, MA\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eIntroduction 196\u003c\/p\u003e \u003cp\u003eGender Lens Investing: Evolving Definitions 198\u003c\/p\u003e \u003cp\u003eA Professional Field with Visibility, Force, and Momentum 201\u003c\/p\u003e \u003cp\u003eBuilding a Larger, More Robust Field: Five Scaling Strategies 202\u003c\/p\u003e \u003cp\u003eDeepening the Empirical Knowledge Base: Four Themes 207\u003c\/p\u003e \u003cp\u003eConstructing a GLI Research Agenda Through 2030 216\u003c\/p\u003e \u003cp\u003eImpact Investing Community-University Research Partnerships 220\u003c\/p\u003e \u003cp\u003eFinal Remarks 223\u003c\/p\u003e \u003cp\u003eReferences 225\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 7 Investing with a Gender Lens: Uncovering Alpha Previously Overlooked 233\u003cbr\u003e\u003c\/b\u003e\u003ci\u003eKristin Hull, PhD\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eIntroduction 234\u003c\/p\u003e \u003cp\u003eGender Lens Investing: Definitions, History, and Potential for a Growing Movement 236\u003c\/p\u003e \u003cp\u003eFactors Driving Investors to Adopt a Gender Lens 243\u003c\/p\u003e \u003cp\u003eFemale Asset Managers Outperforming 244\u003c\/p\u003e \u003cp\u003eWomen at the Top 246\u003c\/p\u003e \u003cp\u003eBoard Representation 247\u003c\/p\u003e \u003cp\u003eWomen Founders and Women-Led Startups 248\u003c\/p\u003e \u003cp\u003eHow Impact Investors Can Pursue Gender Investing 250\u003c\/p\u003e \u003cp\u003eGender Lens Cash Equivalents and Short-Term Notes 254\u003c\/p\u003e \u003cp\u003eGender Lens Public Fixed Income 254\u003c\/p\u003e \u003cp\u003eGender Lens Fixed Income 255\u003c\/p\u003e \u003cp\u003eGender Lens Private Debt 255\u003c\/p\u003e \u003cp\u003eGender Lens Public Equities 256\u003c\/p\u003e \u003cp\u003eGender Lens Global Equities 257\u003c\/p\u003e \u003cp\u003eGender Lens Private Equity 258\u003c\/p\u003e \u003cp\u003eStartup Ventures with a Gender Lens 258\u003c\/p\u003e \u003cp\u003ePrivate Equity and Venture Capital Funds 258\u003c\/p\u003e \u003cp\u003eFund of Funds 260\u003c\/p\u003e \u003cp\u003eThe Importance of an Investment Policy Statement for Gender Lens Investing 260\u003c\/p\u003e \u003cp\u003eConclusion 263\u003c\/p\u003e \u003cp\u003eReferences 265\u003c\/p\u003e \u003cp\u003eAppendix 7.1: Resources 271\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 8 Gender Lens Investing in the African Context 273\u003cbr\u003e\u003c\/b\u003e\u003ci\u003eMichael Z. Ngoasong, PhD and Richmond O. Lamptey, PhD\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eIntroduction 274\u003c\/p\u003e \u003cp\u003eMethodology 276\u003c\/p\u003e \u003cp\u003eWhy Gender Lens Investing in Africa Matters 279\u003c\/p\u003e \u003cp\u003eAdopting Gender Lens Investing 281\u003c\/p\u003e \u003cp\u003eThe Practice of Gender Lens Investing in Africa 283\u003c\/p\u003e \u003cp\u003eDiscussion 295\u003c\/p\u003e \u003cp\u003eConclusion 296\u003c\/p\u003e \u003cp\u003eRecommendations 297\u003c\/p\u003e \u003cp\u003eReferences 299\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 9 The Evolution from Gender-Focused Microfinance to Gender Lens Investing in Latin America: The Case of Pro Mujer 303\u003cbr\u003e\u003c\/b\u003e\u003ci\u003eAngélica Rotondaro, PhD, Maria Cavalcanti, MBA, MS and Carmen Correa, BS\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eIntroduction: Building the Business Case for Gender Lens Investing in Latin America 304\u003c\/p\u003e \u003cp\u003eGender Lens Investing in Latin America and Beyond: Backstage Highlights 306\u003c\/p\u003e \u003cp\u003ePro Mujer’s Gender Lens Investing Process 310\u003c\/p\u003e \u003cp\u003ePro Mujer’s Gender Lens Investing and Scorecard 314\u003c\/p\u003e \u003cp\u003eIlu Women’s Empowerment Fund GLI Scorecard 316\u003c\/p\u003e \u003cp\u003eUnite to Conquer: The Crucial Role of Partnerships for Leveraging Catalytic Capital for Gender Lens Investing in Latin America 319\u003c\/p\u003e \u003cp\u003eKey Learnings and Recommendations 323\u003c\/p\u003e \u003cp\u003eThe Way Ahead 329\u003c\/p\u003e \u003cp\u003eReferences 330\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 10 Inclusive Investing: Impact Meets Diversity, Equity, and Inclusion 333\u003cbr\u003e\u003c\/b\u003e\u003ci\u003eJulianne Zimmerman, MSci, Edward Dugger III, MPA-UP, and Shijiro Ochirbat, MBA, MPA\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eIntroduction: “DEI” Is Not an Asset Class 334\u003c\/p\u003e \u003cp\u003eAligning Purpose with Evidence and Practice 336\u003c\/p\u003e \u003cp\u003eInclusive Investing Methodology: Adapting the Scope 1, 2, 3 Approach to Assess \u003ci\u003eWho Are the People in Your Portfolio? \u003c\/i\u003e343\u003c\/p\u003e \u003cp\u003eInclusive Investing in Practice: UNC Ventures 350\u003c\/p\u003e \u003cp\u003eHow to Begin: Determine What Is Material and Relevant 354\u003c\/p\u003e \u003cp\u003eConclusion 359\u003c\/p\u003e \u003cp\u003eReferences 360\u003c\/p\u003e \u003cp\u003eAppendix 10.1: Starting Examples of Communities of Practice and Knowledge-Sharing Platforms 366\u003c\/p\u003e \u003cp\u003eAppendix 10.2: Additional Resources for Further Exploration 368\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 11 Investing for Impact in Employee Retirement Plans 371\u003cbr\u003e\u003c\/b\u003e\u003ci\u003eMegan E. Morrice, MBA\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eIntroduction 372\u003c\/p\u003e \u003cp\u003eRetirement Plans Demand and Types 374\u003c\/p\u003e \u003cp\u003eRegulation in the United States, United Kingdom, and European Union 380\u003c\/p\u003e \u003cp\u003eCreating Successful Retirement Savings Plans 392\u003c\/p\u003e \u003cp\u003eBenefits of Successful Sustainable Retirement Savings Plan 398\u003c\/p\u003e \u003cp\u003eHow a Retirement Plan Can Become More Sustainable 399\u003c\/p\u003e \u003cp\u003eGet Educated on Sustainable Investing 400\u003c\/p\u003e \u003cp\u003eEngage Employees Through Their Retirement Plans 400\u003c\/p\u003e \u003cp\u003ePrepare for Inspired Incremental Change 401\u003c\/p\u003e \u003cp\u003eEducate Participants with Managerial Support 402\u003c\/p\u003e \u003cp\u003eResearch and Prepare 402\u003c\/p\u003e \u003cp\u003eTalk to Colleagues and Build Consensus 403\u003c\/p\u003e \u003cp\u003eIdentify Who to Approach 403\u003c\/p\u003e \u003cp\u003eApproach with Potential Solutions 403\u003c\/p\u003e \u003cp\u003eConclusion 404\u003c\/p\u003e \u003cp\u003eReferences 405\u003c\/p\u003e \u003cp\u003eAppendix 11.1: Experts Interviewed 411\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 12 Fossil-Fuel-Free Investing: Weaving a New Investment Paradigm 413\u003cbr\u003e\u003c\/b\u003e\u003ci\u003eUmachander Balakumar, MSci\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eIntroduction 414\u003c\/p\u003e \u003cp\u003eChina: Lessons from the Biggest Polluter and Biggest Green Energy Market Maker 417\u003c\/p\u003e \u003cp\u003eMetrics 419\u003c\/p\u003e \u003cp\u003eBuilding a Fossil-Fuel-Free Portfolio 428\u003c\/p\u003e \u003cp\u003ePrivate Equity (PE) 441\u003c\/p\u003e \u003cp\u003eHedge Funds 444\u003c\/p\u003e \u003cp\u003eCommodities 446\u003c\/p\u003e \u003cp\u003eReal Estate 448\u003c\/p\u003e \u003cp\u003ePublic Debt 449\u003c\/p\u003e \u003cp\u003eGreen Bonds 449\u003c\/p\u003e \u003cp\u003eCryptocurrency 451\u003c\/p\u003e \u003cp\u003eFinal Remarks 452\u003c\/p\u003e \u003cp\u003eReferences 455\u003c\/p\u003e \u003cp\u003eAppendix 12.1: Experts Interviewed 459\u003c\/p\u003e \u003cp\u003eAppendix 12.2: Fossil-Fuel-Free Topics and Information 459\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 13 The Role of Transition Finance Instruments in Bridging the Climate Finance Gap 461\u003cbr\u003e\u003c\/b\u003e\u003ci\u003ePauline Deschryver, MSci, MPA and Frederic de Mariz, PhD\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eIntroduction 462\u003c\/p\u003e \u003cp\u003eAn Overview of Green Finance 465\u003c\/p\u003e \u003cp\u003eGreen Bond Certification: Growing Diversity Toward Transparency and Integrity 469\u003c\/p\u003e \u003cp\u003eGreen Bond Issuances Are Not Large Enough for Most Investors 470\u003c\/p\u003e \u003cp\u003eLack of Standardization in the Green Bond Market Threatens Integrity of Label 471\u003c\/p\u003e \u003cp\u003eReputational Risks Scare off Issuers and Investors Alike 472\u003c\/p\u003e \u003cp\u003eThe Sustainable Finance Market Stands to Benefit from the Development of Transition Finance 473\u003c\/p\u003e \u003cp\u003eExisting Frameworks for Transition Bonds 475\u003c\/p\u003e \u003cp\u003eIssuance of Transition Bonds 482\u003c\/p\u003e \u003cp\u003eConclusion 490\u003c\/p\u003e \u003cp\u003eReferences 491\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 14 Social Impact Bonds: Promises and Results 499\u003cbr\u003e\u003c\/b\u003e\u003ci\u003eMaria Basílio, PhD\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eIntroduction 500\u003c\/p\u003e \u003cp\u003eSocial Impact Bonds: Key Concepts 501\u003c\/p\u003e \u003cp\u003eExpected Benefits and Reasons for Concern 505\u003c\/p\u003e \u003cp\u003eThe Theory Behind 506\u003c\/p\u003e \u003cp\u003eSuccesses and Failures of SIBs 509\u003c\/p\u003e \u003cp\u003eThe Role of Impact Bonds in Sustainable Development Goals 511\u003c\/p\u003e \u003cp\u003eDevelopment Impact Bonds 512\u003c\/p\u003e \u003cp\u003eEnvironmental Impact Bonds 514\u003c\/p\u003e \u003cp\u003eConclusion 518\u003c\/p\u003e \u003cp\u003eReferences 520\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 15 Climate and Money: Dealing with “Impact Washing” and a Case for Climate Impact Bonds 525\u003cbr\u003e\u003c\/b\u003e\u003ci\u003eJyotsna Puri, PhD, Aemal Khan, MA, and Solomon Asfaw, PhD\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eIntroduction 526\u003c\/p\u003e \u003cp\u003eImpact Investing: Definition and Measurement Challenges 529\u003c\/p\u003e \u003cp\u003eSocial Impact Bonds 533\u003c\/p\u003e \u003cp\u003eThe Case for Climate Impact Bonds: A Hypothetical Example 534\u003c\/p\u003e \u003cp\u003eConclusions and Implications 547\u003c\/p\u003e \u003cp\u003eReferences 550\u003c\/p\u003e \u003cp\u003eAppendix 15.1: Definitions of Terms Used in the Impact Investing Industry 553\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 16 Measuring and Evaluating Social Impact in Impact Investing: An Overview of the Main Available Standards and Methods 555\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003ci\u003eAna Pimenta, MEcon and Elsa de Morais Sarmento, MA\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eIntroduction 556\u003c\/p\u003e \u003cp\u003eThe Importance of Measurement in Impact Investing 559\u003c\/p\u003e \u003cp\u003eA Brief Overview of the Evolution and Current Status of Impact Measurement in Impact Investing 569\u003c\/p\u003e \u003cp\u003eFrameworks for Measuring and Reporting on Impact 575\u003c\/p\u003e \u003cp\u003eStandards 595\u003c\/p\u003e \u003cp\u003eA Selection of Methods for Impact Measurement 613\u003c\/p\u003e \u003cp\u003eAn Integrated Approach for Impact Measurement 634\u003c\/p\u003e \u003cp\u003eConclusion 642\u003c\/p\u003e \u003cp\u003eReferences 644\u003c\/p\u003e \u003cp\u003eAppendix 16.1: Definitions and Terminology 655\u003c\/p\u003e \u003cp\u003eAppendix 16.2: Global, National, and Company Level Initiatives,\u003c\/p\u003e \u003cp\u003eFrameworks, and Toolkits 661\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 17 Impact Measurement and Management Techniques to Achieve Powerful Results 667\u003cbr\u003e\u003c\/b\u003e\u003ci\u003eJane Reisman, PhD and Veronica Olazabal, MCRS\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eIntroduction 668\u003c\/p\u003e \u003cp\u003eMethodology 670\u003c\/p\u003e \u003cp\u003eConclusion 691\u003c\/p\u003e \u003cp\u003eReferences 694\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 18 Transformative Evaluation and Impact Investing: A Fruitful Marriage 697\u003cbr\u003e\u003c\/b\u003e\u003ci\u003eCourtney Bolinson, MS and Donna M. Mertens, PhD\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eIntroduction 698\u003c\/p\u003e \u003cp\u003eMethodology 702\u003c\/p\u003e \u003cp\u003eThe Transformative Methodological Framework 703\u003c\/p\u003e \u003cp\u003eApplication to Impact Investing 714\u003c\/p\u003e \u003cp\u003eVillage Capital and Peer-Selected Investment 721\u003c\/p\u003e \u003cp\u003eGlobal Agri-Development Company and the Absence of a\u003c\/p\u003e \u003cp\u003eTransformative Framework 725\u003c\/p\u003e \u003cp\u003eConclusion 729\u003c\/p\u003e \u003cp\u003eReferences 732\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 19 Geospatial Analysis of Targeting of World Bank’s Development Assistance in Mexico 735\u003cbr\u003e\u003c\/b\u003e\u003ci\u003eMario Negre, PhD, Dr. Hannes Öhler, PhD, and Željko Bogetic´, PhD\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eIntroduction 736\u003c\/p\u003e \u003cp\u003eBackground and Context 739\u003c\/p\u003e \u003cp\u003eData and Methodology 741\u003c\/p\u003e \u003cp\u003eEmpirical Results 744\u003c\/p\u003e \u003cp\u003eRegression Results 751\u003c\/p\u003e \u003cp\u003eConclusion 754\u003c\/p\u003e \u003cp\u003eReferences 757\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 20 Evaluating the Impact of Portfolio Allocations to Large Firms Along the Value Chain to Develop Small and Medium-Sized Enterprises 761\u003cbr\u003e\u003c\/b\u003e\u003ci\u003eMaximilian Foedinger, MBA, MPA and Elsa de Morais Sarmento, MA\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eIntroduction 762\u003c\/p\u003e \u003cp\u003eValue Chains and Small and Medium Enterprises 765\u003c\/p\u003e \u003cp\u003eBest Practices for Impact Investors 782\u003c\/p\u003e \u003cp\u003eApproach and Principles Underlying the Development of the EBRD\u003c\/p\u003e \u003cp\u003eMethodology 786\u003c\/p\u003e \u003cp\u003eDevelopment of the Methodology 787\u003c\/p\u003e \u003cp\u003eAssessment of Results 797\u003c\/p\u003e \u003cp\u003eFinal Remarks 801\u003c\/p\u003e \u003cp\u003eReferences 804\u003c\/p\u003e \u003cp\u003eAppendix 20.1: Details on Indicators Used 808\u003c\/p\u003e \u003cp\u003eAppendix 20.2: Impact Assessment Draft Questionnaire for Large Firms 817\u003c\/p\u003e \u003cp\u003eAppendix 20.3: Impact Assessment Draft Questionnaire for SMEs 822\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 21 Two Decades of Front-Line Impact Investing 827\u003cbr\u003e\u003c\/b\u003e\u003ci\u003eJean-Philippe de Schrevel, MBA\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eIntroduction 828\u003c\/p\u003e \u003cp\u003eFive Pillars of Impact Investing Best Practice 830\u003c\/p\u003e \u003cp\u003eConclusion 840\u003c\/p\u003e \u003cp\u003eReferences 840\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 22 China’s Rapidly Evolving Practice of Impact Investing: A Critical Perspective 843\u003cbr\u003e\u003c\/b\u003e\u003ci\u003eZhao Jianbo, PhD\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eIntroduction 844\u003c\/p\u003e \u003cp\u003eLiterature Review: Defining the Spectrum of Impact Investing 846\u003c\/p\u003e \u003cp\u003eThe Practice of Impact Investing in China: An Overview 850\u003c\/p\u003e \u003cp\u003eTargeted Poverty Alleviation Needs Social Capital 855\u003c\/p\u003e \u003cp\u003eThe Maturing Market for Impact Investing in China 857\u003c\/p\u003e \u003cp\u003eChallenges to Impact Investment in China 859\u003c\/p\u003e \u003cp\u003eDiscussion 860\u003c\/p\u003e \u003cp\u003eConclusion 863\u003c\/p\u003e \u003cp\u003eReferences 864\u003c\/p\u003e \u003cp\u003eAppendix 22.1: List of Interviewees 867\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 23 Impact Investing Through Corporate Social Responsibility: The Indian Experience 869\u003cbr\u003e\u003c\/b\u003e\u003ci\u003eTanvi Kiran, PhD and Shivam Dhawan, MA\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eIntroduction 870\u003c\/p\u003e \u003cp\u003eData and Methods 872\u003c\/p\u003e \u003cp\u003eOverview of the Corporate Social Responsibility Model in India 872\u003c\/p\u003e \u003cp\u003eFocal Areas of Impact Investment Under CSR 872\u003c\/p\u003e \u003cp\u003eFindings 878\u003c\/p\u003e \u003cp\u003eParameter 1: Magnitude of Impact Investment: Total CSR Spent on Developmental Activities 878\u003c\/p\u003e \u003cp\u003eParameter 2: Nature of Impact Investment: Sectoral Breakup of CSR Expenditure in India 878\u003c\/p\u003e \u003cp\u003eParameter 3: Extent of Impact Investment in Terms of Geographical Distribution of CSR Expenditure in India 889\u003c\/p\u003e \u003cp\u003eParameter 4: Type of Impact Investment in Terms of CSR Spending by Public Sector and Non-Public Sector Undertakings 890\u003c\/p\u003e \u003cp\u003eDiscussion 892\u003c\/p\u003e \u003cp\u003eKey Recommendations 896\u003c\/p\u003e \u003cp\u003eReferences 897\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 24 What Drives Impact Investors? Benchmarking Developed and Developing Countries 901\u003cbr\u003e\u003c\/b\u003e\u003ci\u003eRobin Kipfer, MSci\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eIntroduction 902\u003c\/p\u003e \u003cp\u003eMethodology 904\u003c\/p\u003e \u003cp\u003eLiterature Review 906\u003c\/p\u003e \u003cp\u003eExtrinsic Drivers for Impact Investments 909\u003c\/p\u003e \u003cp\u003eIntrinsic Drivers for Impact Investments 911\u003c\/p\u003e \u003cp\u003eFindings 913\u003c\/p\u003e \u003cp\u003eIndia 913\u003c\/p\u003e \u003cp\u003eFinland 914\u003c\/p\u003e \u003cp\u003ePublic Policy 916\u003c\/p\u003e \u003cp\u003eThe Importance of Capital Providers 917\u003c\/p\u003e \u003cp\u003eDiscussion 921\u003c\/p\u003e \u003cp\u003eConclusion 923\u003c\/p\u003e \u003cp\u003eReferences 924\u003c\/p\u003e \u003cp\u003eAppendix 24.1: Experts Interviewed 927\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 25 Understanding the Demand for Impact Investments: Insights from the Italian Market 929\u003cbr\u003e\u003c\/b\u003e\u003ci\u003eAlessandro Rizzello, PhD, Elisabetta Scognamiglio, PhD, Ludovica Testa, LM, and Lorenzo Liotta, LLM\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eIntroduction 930\u003c\/p\u003e \u003cp\u003eMethodology 933\u003c\/p\u003e \u003cp\u003eStartup Venture Financing and Impact Investing: An Overview 934\u003c\/p\u003e \u003cp\u003eFindings 937\u003c\/p\u003e \u003cp\u003eImpact Investment Readiness Scoring 946\u003c\/p\u003e \u003cp\u003eConclusion 948\u003c\/p\u003e \u003cp\u003eReferences 951\u003c\/p\u003e \u003cp\u003eAppendix 25.1: Questionnaires 954\u003c\/p\u003e \u003cp\u003eAppendix 25.2: Scoring Results 961\u003c\/p\u003e \u003cp\u003eAppendix 25.3: Detailed Scoring Frameworks 963\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 26 The Importance of Scale in Social Enterprises: The Indian Case 965\u003cbr\u003e\u003c\/b\u003e\u003ci\u003eVikram Raman, CA, MBA\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eIntroduction 966\u003c\/p\u003e \u003cp\u003eSocial Enterprises and Requirements for Achieving Scale 968\u003c\/p\u003e \u003cp\u003eSocial Enterprises: Characteristics and Social and Economic Contributions 969\u003c\/p\u003e \u003cp\u003eFactors That Influence a Social Enterprises Ability to Scale 970\u003c\/p\u003e \u003cp\u003eInternal Factors That Influence Scaling 971\u003c\/p\u003e \u003cp\u003eExternal Factors That Influence Scaling 978\u003c\/p\u003e \u003cp\u003ePartnering with the Ideal Investor for Financing 988\u003c\/p\u003e \u003cp\u003eScaling Responsibly 996\u003c\/p\u003e \u003cp\u003eCase Studies 1002\u003c\/p\u003e \u003cp\u003eScaling Metrics 1011\u003c\/p\u003e \u003cp\u003eChecklist for Social Enterprises Looking for Scale 1015\u003c\/p\u003e \u003cp\u003eConclusion 1022\u003c\/p\u003e \u003cp\u003eReferences 1024\u003c\/p\u003e \u003cp\u003eAppendix 26.1: Experts Interviewed 1030\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 27 The Role of the Entrepreneurial University and Engaged Scholarship in Impact Investing Capacity Building 1031\u003cbr\u003e\u003c\/b\u003e\u003ci\u003eRichard T Harrison, PhD and Suwen Chen MBA, MSci\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eIntroduction 1032\u003c\/p\u003e \u003cp\u003eThe Entrepreneurial University 1034\u003c\/p\u003e \u003cp\u003eThe Role of an Entrepreneurial University 1037\u003c\/p\u003e \u003cp\u003eThree Missions of an Entrepreneurial University in Impact Investing 1040\u003c\/p\u003e \u003cp\u003eFrom Top-Down to Bottom-Up 1050\u003c\/p\u003e \u003cp\u003eRecognition of the Boundary of a University’s Intervention 1052\u003c\/p\u003e \u003cp\u003eConclusion 1052\u003c\/p\u003e \u003cp\u003eReferences 1053\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 28 A Road Map for Implementing Impact Investing: The Case of Multinational Companies 1061\u003cbr\u003e\u003c\/b\u003e\u003ci\u003eFilipa Pires de Almeida, MSc and Marta Bicho, PhD\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eIntroduction 1062\u003c\/p\u003e \u003cp\u003eMethodology 1063\u003c\/p\u003e \u003cp\u003eImpact Investing 1065\u003c\/p\u003e \u003cp\u003eCompany Profiles 1067\u003c\/p\u003e \u003cp\u003eFindings on Impact Investing Strategies 1074\u003c\/p\u003e \u003cp\u003eA Road Map for Impact Investing 1083\u003c\/p\u003e \u003cp\u003eConclusion 1087\u003c\/p\u003e \u003cp\u003eReferences 1088\u003c\/p\u003e \u003cp\u003eAppendix 28.1: Impact Investment Profiles 1093\u003c\/p\u003e \u003cp\u003eUnderlying Conditions 1094\u003c\/p\u003e \u003cp\u003eUnderlying Resources 1099\u003c\/p\u003e \u003cp\u003eImpact Investing 1102\u003c\/p\u003e \u003cp\u003eAppendix 28.2: Impact Investing Instruments 1107\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 29 Impact Investing and European Wealth Managers: Why Impact Investing Will Go Mainstream and Evolve to Suit European Investors 1123\u003cbr\u003e\u003c\/b\u003e\u003ci\u003eTrang Fernandez-Leenknecht, CAIA, LLM\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eIntroduction 1124\u003c\/p\u003e \u003cp\u003eMiFID II: A Growth-Driver for Impact Investing 1128\u003c\/p\u003e \u003cp\u003eAssessing “Complex” Suitable Products 1130\u003c\/p\u003e \u003cp\u003eIntegrating Impact Investing into Investment Funds 1132\u003c\/p\u003e \u003cp\u003eDeveloping Impact Investing to Suit the Retail Market 1135\u003c\/p\u003e \u003cp\u003eGeneralizing Impact Investing to a Mainstream Scale 1137\u003c\/p\u003e \u003cp\u003eThe Impact Report: A Protection Tool for the Investor 1139\u003c\/p\u003e \u003cp\u003eOverview in Selected Countries 1140\u003c\/p\u003e \u003cp\u003eFrance: Innovative “90\/10 Solidarity” Products 1142\u003c\/p\u003e \u003cp\u003eSwitzerland: From Institutional to Individual Pension Investors 1144\u003c\/p\u003e \u003cp\u003eConsiderations for the Future 1147\u003c\/p\u003e \u003cp\u003eConclusion and Next Steps 1151\u003c\/p\u003e \u003cp\u003eReferences 1153\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 30 Fintech for Impact: How Can Financial Innovation Advance Inclusion? 1159\u003cbr\u003e\u003c\/b\u003e\u003ci\u003eFrederic de Mariz, PhD\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eIntroduction 1160\u003c\/p\u003e \u003cp\u003eThe Promise of Fintech: Innovation with a Purpose 1161\u003c\/p\u003e \u003cp\u003eWhat Are the Benefits and Limits of Financial Inclusion? 1167\u003c\/p\u003e \u003cp\u003eWithin Fintech, Electronic Payments Are an Entry Point for Financial Inclusion 1172\u003c\/p\u003e \u003cp\u003eThe Drivers of Financial Inclusion: The Quality Dimension 1178\u003c\/p\u003e \u003cp\u003eCan Fintech Enable More Impact Investing and Support SDGs? 1183\u003c\/p\u003e \u003cp\u003eConclusion 1185\u003c\/p\u003e \u003cp\u003eReferences 1186\u003c\/p\u003e \u003cp\u003eIndex 1193\u003c\/p\u003e  \u003cp\u003e\u003cb\u003eELSA DE MORAIS SARMENTO\u003c\/b\u003e is an Associate Researcher at NOVAFRICA at Nova Business School of Management and Economics. She co-edited \u003ci\u003eThe Emerald Handbook of Public Private Partnerships in Developing and Emerging Economies\u003c\/i\u003e. \u003c\/p\u003e\u003cp\u003e\u003cb\u003eR. PAUL HERMAN\u003c\/b\u003e is CEO of HIP (Human Impact + Profit) Investor Ratings and Portfolios and has served as faculty at business schools around the world. He is author of \u003ci\u003eThe HIP Investor: Make Bigger Profits by Building a Better World\u003c\/i\u003e.   \u003c\/p\u003e\u003cp\u003eGlobally, more than 20% of all investment is intentionally allocated to make a positive impact on society and the planet. As the quest for social justice and climate action become ever more pressing, the amount of capital devoted to impact investing is slated to grow. All types of capital providers—investors, governments, multi-lateral banks, NGOs, universities—are demanding that the immense power of their assets both do good and do well, funding solutions and transforming the world we live in. \u003c\/p\u003e\u003cp\u003eInvestment and finance professionals, academics, along with government leaders and change-making innovators in the public and private sectors, all demand a guide to understand the theory and practice of impact investing. The \u003ci\u003eGlobal Handbook of Impact Investing\u003c\/i\u003e answers this urgent call with wide-ranging content on the history, current state, and future direction for impact investing. \u003c\/p\u003e\u003cp\u003eAllocating resources to impact investing is even more powerful when rigorous assessment methodologies can ensure the highest-impact results are being realized. This book is a major milestone, serving as a comprehensive yet practical resource to define and measure impact—an advancement in the field—that guides investors pushing towards a greener and more sustainable world. \u003c\/p\u003e\u003cp\u003eIn our globalized world, we face complex challenges that demand equally complex and interconnected solutions. No other book on the market approaches the broad, international scope of this new volume. Thirty chapters by leaders in global and sustainable finance offer frameworks and case examples drawn from five continents. This handbook provides a holistic understanding required to bring impact investing to scale and forge unprecedented positive change in the capital markets of today and tomorrow.   \u003c\/p\u003e\u003cp\u003e\u003cb\u003ePRAISE FOR GLOBAL HANDBOOK OF IMPACT INVESTING\u003c\/b\u003e \u003c\/p\u003e\u003cp\u003e\"\u003cb\u003eImpact investing is a new opportunity\u003c\/b\u003e to combine forces of private capital and public policy objectives. This\u003ci\u003e Global Handbook of Impact Investing\u003c\/i\u003e offers information and inspiration for using these tested but still relatively new financial instruments for achieving the Sustainable Development Goals (SDGs).\"\u003cbr\u003e \u003cb\u003e—Hon. Jyrki Katainen, MSc,\u003c\/b\u003e President, Finnish Innovation Fund SITRA; former European Commission's Vice-President for Jobs, Growth, Investment and Competitiveness; former Prime Minister of Finland \u003c\/p\u003e\u003cp\u003e\"\u003cb\u003eIf we truly want a more sustainable, more inclusive world, we must change the way we invest our money.\u003c\/b\u003e This book helps move us toward a future in which \u003ci\u003eevery\u003c\/i\u003e investment decision considers impact alongside profit. Money can do so much more than just make more money, and the problems of our world are far too urgent for our capital to underperform.\"\u003cbr\u003e \u003cb\u003e—Amit Bouri, MBA, MPA,\u003c\/b\u003e Co-founder and CEO, Global Impact Investing Network \u003c\/p\u003e\u003cp\u003e\"\u003cb\u003eThe world of investing needs to evolve\u003c\/b\u003e our values and priorities towards more interdependence so that economic growth will support and transform, instead of jeopardize, equitable human development for all 7 billion of us. This global handbook contains ideas, innovations, and pathways towards a better world for all of us via our portfolios.\"\u003cbr\u003e \u003cb\u003e—Annie Chen, JD,\u003c\/b\u003e Founder and Chair, RS Investment Group, Hong Kong \u003c\/p\u003e\u003cp\u003e\"This book explains why and how impact investors are achieving leaps of profitability and impact, \u003cb\u003eproviding a suite of strategies and solutions for investors\u003c\/b\u003e who understand that the world of finance has changed. We have the immense opportunity to improve the lives of millions while pursuing stronger financial returns.\"\u003cbr\u003e \u003cb\u003e—Dr. Andrew Kuper,\u003c\/b\u003e Founder and CEO, LeapFrog Capital; Board Member, Emerging Markets Private Equity Association (EMPEA) \u003c\/p\u003e\u003cp\u003e\"\u003cb\u003eThis global handbook breathes life into a vision for a future\u003c\/b\u003e that can be financially prosperous—as well as provide access to good health, clean water, and a sustainable environment.\"\u003cbr\u003e \u003cb\u003e—Rosemary Addis, AM,\u003c\/b\u003e Impact Strategist; Ambassador, Global Steering Group for Impact Investment; Senior Strategic Adviser, UNDP \u003c\/p\u003e\u003cp\u003e\"\u003cb\u003eFinancial capitalism needs a second life, and that life is called impact investing\u003c\/b\u003e. This book is thus a powerful resource for anyone interested in exploring and understanding the brave new world of impact investing.\"\u003cbr\u003e \u003cb\u003e—Dr. Filipe Santos,\u003c\/b\u003e Chaired Professor of Social Entrepreneurship; Dean, Católica Lisbon School of Business and Economics; Board Member and former Chair, European Venture Philanthropy Association\u003c\/p\u003e","brand":"Wiley","offers":[{"title":"Default Title","offer_id":47989294956773,"sku":"NP9781119690641","price":49.95,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9781119690641.jpg?v=1761783555","url":"https:\/\/k12savings.com\/es\/products\/global-handbook-of-impact-investing-isbn-9781119690641","provider":"K12savings","version":"1.0","type":"link"}