Impact Metrics Set

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For this project, Metrics Set was defined as a catalogue of metrics and/or measures for things that can be counted.

Majority of the respondents cited Impact Reporting and Investment Standards (IRIS) and the Sustainable Development Goals (SDGs) as the most common standardised metrics. There are still a number of respondents in East Africa who use a combination of established metrics and internal metrics to account for unique product/services offered.

IRIS is managed by the Global Impact Investing Network (GIIN), a nonprofit organization dedicated to increasing the scale and effectiveness of impact investing.

Impact Reporting and Investment Standard (IRIS)

IRIS is the catalogue of generally-accepted performance metrics. IRIS is a free public good to support transparency, credibility, and accountability in impact measurement practices across the impact investing industry.

In addition to the standards with which IRIS has formal linkages, the catalog was built with shared expertise from dozens of other organizations and standards. These leveraged frameworks provided metrics, definitions, and usage guidance for the IRIS Catalog. See more below:

  • Organization for Economic Cooperation and Development
  • International Labor Organization
  • International Union for the Conservation of Nature
  • United Sates Environmental Protection Agency
  • The United States Environmental Protection Agency (EPA)
  • Consultative Group to Assist the Poor
  • World Resources Institute
  • World Health Organization – Indicator and Metric Registry 
  • United States Green Building Council – Leadership in Energy and Environmental Design
  • International Financial Reporting Standard 
  • Greenhouse Gas Protocol

The Sustainable Development Goals (SDGs), otherwise known as the Global Goals, are a universal call to action to end poverty, protect the planet and ensure that all people enjoy peace and prosperity.

These 17 Goals build on the successes of the Millennium Development Goals, while including new areas such as climate change, economic inequality, innovation, sustainable consumption, peace and justice, among other priorities. The goals are interconnected – often the key to success on one will involve tackling issues more commonly associated with another.

The Global Value Exchange is a crowdsourced database of Values, Outcomes, Indicators and Stakeholders. The Global Value Exchange enables users to search the database by keyword (sector, issue, etc.) that lists common indicators and their source.

The Global Value Exchange (GVE) is an online platform that allows users to set up their own projects, start to monitor the social value they are creating, and helps them to manage and maximise their social value.

There are three main parts to GVE:

  1. browseGVE: a database with thousands of outcomes, indicators and valuations
  2. myGVE: an interactive project layer where you can enter and collect social value data for your own activity or project
  3. myGVEportfolio: manage the social value of multiple projects by creating a portfolio with a shared outcome framework

GOGLA Impact Working Group was established in 2013, with the goal of creating the first standardized impact metrics for the off-grid industry. These metrics are designed to enhance knowledge, streamline reporting and attract investment, working capital, and regulatory support. The impact metrics are updated regularly and with the current version 3.0 being the most recent. Version  3.0 of the Standardized Impact Metrics for the Off-Grid Solar Sector has been aligned with the IRIS Metrics.

Individual organisations can use these metrics to estimate the impact of their products, services or market supporting activities. GOGLA also uses the metrics to calculate the impact of all GOGLA Members and IFC Associate companies twice yearly in its Off-Grid Solar Global Sales and Impact Reports – enabling aggregated impact insights to be shared with key decision-makers.

Harmonized Indicators for Private Sector Operations (HIPSO)

Over 20 International Financial Institutions (IFIs) formed a Working Group on Indicator Harmonization that agreed to benchmark indicators for private sector investment operations and seek examples of best practice for shared adoption. A first set of 27 indicators was agreed in the form of an MoU, signed in October 2013. There is no obligation, however, to start tracking and using the harmonized indicators if an IFI does not wish to track the development outcomes they capture. Many IFIs share the same clients or invest in the same industries, yet require clients to report their activities based on different sets of criteria. The Harmonized Indicators for Private Sector Operations standardize these criteria and reduce the administrative burden of shared clients, allowing them to focus on what matters most: delivering results on the ground.

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