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.


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 measurement and valuation. He has a passion for sports, arts and photography.

Arjan Udding

Arjan is Consulting Principal. He is an experienced management consultant with a focus on business transformation, sustainability leadership, and organization development. Prior to joining Impact Institute he was Director at PwC UK and AXVECO and Chief Risk Officer at SWIFT. ​He believes in the power of imagination, collaboration and integrity, and that this leads to sustainable progress. He holds an Executive Master of Finance and Control degree and a MSc degree in Chemical Engineering​.

Reinier de Adelhart Toorop

Reinier is Head of Research. Previously he was Research Associate at Roland Berger Strategy Consultants and holds a PhD in Theoretical Physics.

Florian Reuter

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

Anne Barendregt

Anne is Operations Manager. She most recently worked as Operations Manager at Vitens Evides International, an international social enterprise. She holds an MSc in Civil Engineering.

Pietro Galgani

Pietro works as R&D Manager. He is a sustainability researcher with a background in industrial ecology, life cycle assessment and international development.

Anouk Evers

Annouk is the Senior Office Manager. She most recently worked as Office Manager at the UvA Institute for Advanced Study and was General Manager / Coordinator at the Kurt Lewin Institute. She holds a MSc in Clinical Child Psychology.

Jérôme Reehuis

Jérôme is the Finance Manager. He was a dedicated Business Controller in the retail and formerly worked at: Blokker Holding, De Bijenkorf, V&D and Praxis. He holds the post-bachelor titel QC (Qualified Controller) and wants to help businesses to include social- and environmental impact in annual reporting and management accounting.

Jonne Velthuis

Jonne is the Chief of Staff, which means he runs the Executive Director (ED) office, coordinates his domains, and manages strategic and priority projects.  He has four years consultancy experience at EIFFEL in healthcare, construction, and utility industries. He holds a MSc in Organizational Design and Development and is determined to increase the number of organizations using an IP&L.

Sven Renon

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

Roland van Keeken

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

Andrea Rusman

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

Toby Smith

Toby is a Senior Associate. 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.

Job Jonkergouw

Job is a Strategic Data Scientist. Previously, he worked as a Senior Consultant at EY Transaction Advisory. He obtained a MSc Physic by studying the statistical data analysis of the Higgs boson and a MSc Software Engineering by specializing in cyber security analytics.

Hans Baumers

Hans is a Strategic Data Scientist. Previously, he worked as a Senior Consultant in financial risk advisory at Deloitte Belgium. He also obtained a PhD in Mathematics at the University of Leuven, studying jumping numbers on higher-dimensional algebraic varieties.

Hans Westrik

Hans is a Strategic Data Scientist. Previously, he worked as a Researcher at Priogen Energy and holds a MSc in Mathematics.

Luuc Overvoorde

Luuc is an Associate. Previously, he worked as a consultant at &samhoud, a management consultancy firm. He holds a MSc in Behavioural Economics and Game Theory from the University of Amsterdam.

Floor van den Elzen

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

Lewis Zwart

Lewis is an Associate. She holds a MSc and BSc in Mathematics from the University of Amsterdam.

Emmanouela Varoucha

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

Maurits Appeldoorn

Maurits  is a Fellow. He holds a MSc International Relations and Political Philosophy, specializing in democratic theory. He previously worked at a subsidy consultant and for ING Bank.

Ruward Mulder

Ruward is a Fellow. He obtained an MSc in Theoretical Physics & Climate Science and an MSc in the History & Philosophy of Science at Utrecht University. He previously worked as a lecturer in the field of ethics of technology, at Eindhoven University.

Megan Roux

Megan is a Fellow. She recently obtained a MSc in Economics, specializing in Behavioral Economics and Game Theory from the University of Amsterdam. Prior to that she received a BA in Economics at Rhodes University in South Africa.

Valerius Vandru Hartanto

Valerius is a Fellow. He holds an MSc in Environmental Sciences with a specialization in Environmental Economics and Natural resources from Wageningen University and Research. Prior to that he received a BSc in Chemical Engineering.

Anne Mesguich

Anne is a Trainee. She holds an MSc in Finance & Investments (Advanced) from the Erasmus University of Rotterdam. Before that, she obtained a BSc in International Business from Maastricht University.

Rushi Mehta

Rushi is a Trainee. He recently obtained his master’s degree in Bio-Inspired Innovation from Utrecht University. Prior to that he worked in Operations at Barclays after completing a bachelor’s degree in life sciences at the University of Edinburgh.

Leon Ingelse

Leon is a Project Support Officer. He holds a BSc in Mathematics with a minor in International Development Studies from the University of Amsterdam.

Jude Bernard

Jude is an Analyst. He holds an MSc in Philosophy specializing in moral philosophy from the University of Amsterdam. Previously he obtained a BA in Philosophy and Ancient History from the University of St Andrews.

Antoniya Grozdanova

Antoniya is an Executive Business Assistant. She holds an MSc in Sustainable Entrepreneurship from the Groningen University and previously obtained her BBA in International Business and Languages. Prior to her master, she worked as a Marketing Manager at Bosch Security Systems.

Claudia Rozendal

Claudia is an Analyst Intern. She holds a BSc in International Development Studies and is currently finishing her MSc in Management, Economics and Consumer studies from Wageningen University, specializing in Environmental Economics.