About the Impact Institute 2018-12-07T11:33:17+00:00


One of the greatest opportunities of the 21st century is the realization of the impact economy: an economy where everyday work, entrepreneurship, innovation, and technology lead to a better world. To achieve this, a global system shift is needed in which we keep the valuable components of the old market system while embracing new economic models. A requirement for making this shift to the impact economy is a common language for impact and integrating this language into every aspect of our economy.


Our mission at the Impact Institute is to empower organizations and individuals to realize the impact economy by creating a common language for impact and providing the tools to use it. We develop open-source standards for impact measurement and valuation and provide organizations with the tools, training, and services to implement them.


The Impact Institute is a social enterprise and a spin-off of True Price. True Price, founded in 2012, developed methods and tools to measure and monetize impact. In 2018, True Price decided to continue as a non-profit focused on maintaining a standard and community to realize true pricing, a system where consumers can see and voluntarily pay the true price of their products. All services, as well as the development of new methods and technologies, have been spun off to the Impact Institute.

Working with the Impact Institute

The Impact Institute is known for its expertise in impact measurement, accounting, and valuation.

We have

  • Developed the first method worldwide to measure social and environmental costs in value chains, as well as to calculate an Integrated Profit & Loss Account.
  • Founded the cross-domain Principles for Impact measurement and valuation across the six capitals (Financial, Natural, Social, Human, Intellectual, and Manufactured) and developed the integrated Profit & Loss Account Protocol
  • Contributed to global standards and open source method.
  • Become a worldwide leader in impact measurement and valuation

Examples of our work include:

  • Undertaking a fully transparent evaluation of your impact focused on building your capacity.
  • Developing standards in an inclusive manner through public consultation, which are reviewed by an academic council and a stakeholder council.
  • Working with advanced data science techniques such as multi-level regression, Monte Carlo simulation, and machine learning.


Adrian de Groot Ruiz

Adrian de Groot Ruiz is Executive Director of the Impact Institute. Adrian is also the co-founder and director of True Price. Previously, he was Assistant Professor of Finance at Radboud University. Adrian is member of Worldconnectors and alumnus of the Global Shapers Amsterdam. He has co-founded the SDG Charter Foundation, a multi-stakeholder initiative to promote the SDGs in the Netherlands. He has set up a variety of organizations focusing on sustainable development, both nationally as well as internationally. His PhD focused on behavioral game theory and was obtained at the University of Amsterdam cum laude. He has published several articles in renowned academic economic journals and is a frequent public speaker.

Michel Scholte

Michel Scholte is director and co-founder of the Impact Institute. He is a social entrepreneur dedicated to a more equitable economy, in balance with nature and without extreme forms of poverty and suppression. Michel is also the co-founder and executive director of True Price. Before, he has set up a variety of social enterprises focusing on societal challenges and development. He holds a variety of advisory board positions and is alumnus of the Shapers Network of the World Economic Forum and member of Worldconnectors. He holds a MSc degree in Sociology from the VU University Amsterdam, with a specialization on research methods, politics and living wages. Michel is a frequently asked public speaker and opinionist in the field of impact measurment and valuation. He has a passion for sports, arts and photography.

Maria Jamriska-Mulder

Maria is an senior advisor to the Impact Institute on impact investing for the financial sector. She most recently worked as an exert advisor to the Royal Tropical Institute (KIT) on Dutch Agreements on International Business Responsibility. She was formerly the COO and Deputy Head Global Country Risk for Royal Bank of Scotland.

Reinier de Adelhart Toorop

Reinier de Adelhart Toorop is a Project Manager. Previously he was Research Associate at Roland Berger Strategy Consultants.

Florian Reuter

Florian is a Project Manager. He was previously a manager at Deloitte Risk Advisory and holds a MSc in Mathematics.

Pietro Galgani

Pietro works as a Team Leader. He is a sustainability researcher with a background in industrial ecology, life cycle assessment and international development.

Roland van Keeken

Roland works as a Senior Associate and was previously a Consultant at Deloitte Financial Risk Management.

Sven Renon

Sven is a Senior Associate with a passion for data visualization. Previously he worked as a Policy Advisor at the Ministry of Finance.

Andrea Rusman

Andrea is an Associate. She obtained a MSc in Econometrics, specializing in game theory, from the University of Amsterdam.

Martina Vilhar

Martina is the Office Manager and has a versatile role. From managing agendas, administration, finances to working on operations, translation, HR, social media and communication tasks, she is ensuring a smooth flow of company’s processes.

Floor van den Elzen

Floor is a Fellow. She holds an MSc in Sustainable Development, specializing in Environmental Governance and a BA in History.

Jelmer de Boer

Jelmer is a Trainee, specializing in full stack development. His role is to automatize the process of monetizing the social and environmental impacts.

Lewis Zwart

Lewis is a Trainee. She holds a MSc and BSc in Mathemetics from the University of Amsterdam.

Emmanouela Varoucha

Emmanouela is a Trainee. She obtained an MSc in Environment and Resource Management from VU Amsterdam and a BA in International and European studies.

Averill Daly

Averill is a Project Support Officer. She received her MSc in International Development Studies from the University of Amsterdam and formerly obtained her MA in International Relations and Social Anthropology from the University of St. Andrews (Scotland).

Toby Smith

Toby is a Senior Analyst Intern. Previously he worked as a Consultant Civil and Structural design Engineer and an Application Support Engineer at a specialist software company related to the financial trading sector.

Noortje Keurhorst

Noortje is an Analyst Intern. She currently studies Environmental Sciences at Wageningen University and holds a BSc in International Business Administration from Erasmus University Rotterdam.

Paul Glade

Paul is an Analyst Intern. He is currently pursuing an MSc in Industrial Economy from the Technical University of Delft and the Leiden University.

Anne Mesguich

Anne is an Analyst Intern at True Price. She is currently obtaining her MSc in Finance & Investments (Advanced) from the Erasmus University of Rotterdam. Before that, she obtained a BSc in International Business from Maastricht University.