While big advances are being made in metrics for social and environmental impact and sustainability, many of these impact metrics are often redundant, confusing and in conflict. This is a costly and distracting problem for both investors and entrepreneurs running their companies. How can we create a Rosetta Stone that overcomes the fragmented, siloed approach and ensures the right things are being measured?
Over the next few months, each working group will refine the scope of the project and announce the project's initial deliverables at SOCAP17 in San Francisco. Throughout the project, we will post updates, notes, and reports from each working group to give interested parties insight on how the project is progressing. Accordingly, some of the notes posted will not be fully fledged out ideas, concepts, or recommendations, but rather broad discussion points.
launch event discussion leaders
Notes: 6.19.17 - GCP Launch Event
Below are the key notes from the first Impact Measurement working session of the Good Capital Project.
Impact Investing still suffers from lack of proof.
We need more partnerships, provide research to investors, to convene large global membership
Greater transparency required for mapping impact to investors.
We need to create “business model impact data” around products and services.
Importance of comprehensive data – connection among intentionality, opportunity and risk.
Purpose of impact investing is to get more capital to more interventions that make a difference in people’s lives —> we need to know if the capital is actually making a difference!
“Lean data” – Trying to solve “customer company” problem by collecting data straight from customers and then relay to investors.
Facile notion of investing in labels without knowing the underlying intent is a problem that plagues the industry.
We have to come up with a connection and structure for impact measurement and management similar to modern portfolio management.
We need tools to enable wealth managers to understand impact investment.
Often double, triple reporting of Impact. Each investor claiming all the impact.
How to navigate cultural barriers, transparency, and other obstacles?
Missing constituents - data scientists aren’t in this room, evaluators aren’t in this room.
Technology will play a huge role in creating liquidity of innovation, data, and intelligence in this space.
What norms need to change in order to get people to value impact and impact data as much as financial data?
What incentives can be created to facilitate data collection on one platform for the creation of a benchmarking tool that learns and evolves as the market changes and develops?
“Why can’t I ask Siri or Alexa where and how to invest my IRA for maximum impact?”