We work to change how decisions are made, ensuring impact is taken into account in every business, investment and government spending decision alongside risk and return.
Mandatory accounting for impact will transform the availability of information, enabling empowered investors, consumers, policymakers, and wider stakeholders to make meaningful comparisons between businesses.
Impact valuation and accounting is advancing rapidly. We believe that the ability to put a credible monetary value on impact, enabling the integration of financial and sustainability reporting, is a game changer.
With the support of GSG Impact, the International Foundation for Valuing Impacts (IFVI) has been set up, in partnership with the Value Balancing Alliance (VBA), to develop and implement impact accounting methodologies. Action is underway in many countries, with evidence from the Harvard Business School Impact Weighted Accounts Initiative (IWAI) suggesting growing adoption of impact accounting.
Corporates and other sustainability and impact reporting entities face implementation challenges. Language, scope, requirements and timeframes still need to be harmonised.
We work to coordinate the interoperability of standards and reporting frameworks, whilst we continue to support efforts on implementation and adoption.
We advocate for the inclusion of all stakeholders from all geographies in these standard setting processes, such as the voices of emerging market SMEs. Our goal is to ensure that all such standards enable better decisions towards a more just and sustainable world, where all negative and positive impacts of organisations are identified and managed.
Practical guidance to ensure sustainability disclosure works for all. The publication addresses the global challenges of implementing sustainability disclosures in emerging markets, focusing on Africa, Latin America and South-East Asia. It highlights the unique needs of MSMEs in these regions, emphasising the importance of inclusive global sustainability standards that consider local contexts.
Our case for requiring greater accountability for impact extends beyond the private sector, as we should expect and demand greater accountability from governments regarding the social and environmental impact of their expenditure and wider activities. In this regard, we welcome, join and support ongoing efforts by the International Public Sector Standards Board (IPSASB) to develop public-sector-specific sustainability reporting standards, starting with climate-related disclosures.
Led by our Chair, Nick Hurd and managed by our Chief Policy Officer Sebastian Welisiejko, the Impact Taskforce was created in 2021 with the support of the UK government under its presidency of the G7. It unites over 120 leading voices from business, investment and public policy. Its seminal report “Time to deliver: mobilising private capital at scale for people and planet” was published in 2021. The report lays out actionable pathways for institutional capital to work more effectively with public capital to deliver the SDGs and a Just Transition. A progress report, State of Play 2023, takes stock of the original recommendations.
We collaborate with global standard setters and networks to achieve impact transparency and integrity:
A guide for Development Finance institutions (DFIs) and all practitioners wanting to increase the flow of capital to SMEs in emerging markets and developing economies (EMDEs).
The report offers impact economy ecosystem analysis on impact progress in 34 countries with cross-cutting insights. What's unique is that it offers more than market sizing data; it explains how countries are redesigning for impact through policy and practices, building the infrastructure and incentives for impact economies. This includes tracking government actions, market building, impact capital supply, impact capital demand, and contributions to the UN Sustainable Development Goals.
The GSG Impact Partnership reached a pivotal moment, now spanning 46 countries and covering 65% of the world’s population. Our work in 2024 was centred around (i) advancing impact economies by expanding our community and nurturing ecosystem growth (ii) mobilising private capital at scale, especially in emerging markets, and (iii) enabling greater inclusivity in global sustainability disclosure standards.
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