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Social investment is on the rise, and by 2024, we'll be in the "era of impact accounting," says Sir Ronald Cohen, founder of the International Foundation for Valuing Impacts.
He spoke Monday in Madrid, where the foundation launched an environmental accounting tool for companies in 268 countries and regions, the Pioneers Post reports.
The International Foundation for Valuing Impacts is a not-for-profit founded by Cohen that aims to make it easier for companies to measure and value the environmental impacts they have on the planet.
The new tool, called "interim environmental methodologies," is based on what Cohen calls the "interim environmental methodologies" he came up with in the 1980s, the Guardian reports.
It allows companies to measure and value their environmental impacts in terms of how much they would lose if they didn't do so, and how much they would gain if they did.
According to a report published this week by GSG Impact, there are 19 impact investment wholesalers around the world, including the UK's Better Society Capital, Canada's Social Finance Fund, and Korea's Social Value and Solidarity Foundation, together managing more than $3 billion.
The report notes that impact investment wholesalers "provide capital to intermediary impact funds, helping them to attract more
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Social Entrepreneurship
Spotlight
New Age of Philanthropy: #GivingTuesday
A part of a series produced by The Huffington Post in celebration of #GivingTuesday, which will take place this year on December 3, Kathy Calvin and Henry Timms vouch that we are living in a new era of philanthropy.
