Introduction


Dear Reviewers,

To shed light on impact performance and enable investors to consider impact indicators with commensurate rigor to financial indicators, the GIIN has begun to analyze the impact performance of impact investments. Yet gauging investment-level impact remains a challenge: historically there has been no tested, widely accepted methodology to assess and compare impact results.

This Methodology for Standardizing and Comparing Impact Performance seeks to address this industry gap. This GIIN has published this paper to solicit feedback in an effort to overcome the complex challenge of understanding impact performance. This work creates an opportunity to harness the collective intelligence of the wider community of impact investors and ecosystem players.

We invite you to share your feedback and reflections on the choices laid out here and to help us strengthen this methodology. This comment period will be open until February 19, 2021. We have laid out a series of questions below that are designed to stimulate thinking on some key questions; additional feedback beyond these areas is additionally welcomed.

We encourage comments via this form. If, however, you are not able to provide comments here, please submit your comments before January 31 via email to impactperformance@thegiin.org, subject line "Public Comment Period comments."

Thank you for joining us in this journey.

Best,
The GIIN

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* 1. Name and Organization

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* 2. Email

The following (optional) questions are designed as prompts to encourage feedback in key areas. Additional feedback beyond these questions is welcomed.

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* 3. This methodology offers three strategies for binding the investment universe – or setting the parameters for which investments are included or excluded – to enable analysis by sector, impact theme, or strategic goal. For each, several use cases are offered to inform the decision. What other investment choices or activities can each binding strategy inform?

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* 4. Several variables pertaining to investment and investee context are described throughout this document. Which additional elements of context do investors consider in their analysis and comparison of impact results?

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* 5. To normalize results from the investee level to the investment level, this methodology relies on the consideration of proportionality and time/timing. What other key components inform the translation of investee-level to investment-level results?

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* 6. Throughout an investment lifecycle, investors may measure data reflecting both impact outputs and outcomes; however, outputs data are more readily and easily available. What types of decisions do investors inform with outputs-level data? What decisions do investors inform with outcomes data?

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* 7. To truly gauge the long-term outcomes associated with impact investments requires longitudinal studies and evaluations, which can be costly, time intensive, and ethically fraught. How do investors assess progress toward long-term outcomes associated with an investment?

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* 8. This approach seeks to understand the positive and negative effects of an investment, as well as its intended and unintended consequences. How do investors integrate positive and negative impact to understand outcomes?

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* 9. This methodology seeks to elevate insights that can enhance decision-making. What key choices can this methodology – and its resulting insights – help investors inform? What conversations can it shape? What gaps remain?

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* 10. Please share any additional feedback, reflections, or insights here.

Thank you for your input!
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