The Governance of Impact Measurement in European Impact Investing Funds

Impact investing funds have grown their assets under management and their capabilities in impact measurement and management (IMM) in recent years. However, there remains a lack of transparency and best practices for IMM governance. This report sheds light on this topic, addressing how European impact investing funds allocate responsibility for IMM, how impact is integrated in the investment process, and how impact data affects investment decisions and incentive structures.

This report was authored by Louis Boudoux d'Hautefeuille and Lisa Hehenberger, and is based on a combination of desk research and interviews with eight leading impact investing funds in Europe to identify patterns in their IMM governance models.