Unprecedented change is needed to create a world that enables every one of us, now and in the future, to live a fulfilling life with dignity. Conventions such as the SDGs, the Paris Climate Agreement, and Human Rights give us direction as to what our goals are. To realize these goals, an impact economy is needed: an economy in which work, entrepreneurship, innovation, and technology lead to a better world.
Today, we are thrilled to announce that we have launched the Impact Institute. Our mission is to empower organizations and professionals to realize the impact economy. For this, we firstly develop the ‘language’ of the impact economy: open-source standards for impact measurement and valuation. Secondly, we develop technologies to measure and communicate impact with radically more accuracy and lower cost.
The Impact Institute is a social enterprise and a spin-off of True Price. True Price was founded in 2012 and has since developed various methods and tools to measure and monetize impact. In 2018, True Price decided it will focus fully on creating a platform that enables businesses and consumers to calculate and share the true price of the products they buy and make. The Impact Institute will continue all other activities of True Price related to impact measurement and valuation.
Key objectives of the Impact Institute are that
- All organizations measure, disclose, and steer on their societal accounts (including an Integrated Profit & Loss) next to their financial accounts
- The financial valuation of shareholder value should include long-term internalization risks and opportunities
- Governments provide the required incentives to enable businesses to be transparent about and optimize their societal value creation
- All businesses disclose and improve the societal effects of their products (e.g. through true pricing).
The Impact Institute both develops open-source methods and offers the tools—software, data, training, and strategy—to implement these objectives. This includes software tools, measurement & reporting, consultancy & research, and training & education.
Our areas of focus are the Integrated Profit & Loss; true pricing; Sustainable Development Goals; tailor-made impact frameworks and specific topics such as human rights, living wages and income, natural capital, circularity, carbon footprint, social impact and cultural impact.
Finally, we will organize an annual Impact Conference, for which we will update you soon.
More information can be found on www.impactinstitute.com. True Price can be found on www.trueprice.org. Do not hesitate to reach out to us with any questions, ideas or suggestions.
Adrian de Groot Ruiz, Director Michel Scholte, Director