DATE: January 8, 2024
STATUS: Open for public comment
While social movements for greater equity have spurred corresponding efforts among investors, as investors increasingly deploy strategies to advance social equity, best practices for managing and disclosing the impact of those strategies have not kept pace. Impact management for social equity is at a nascent stage because the necessary expertise tends to be siloed across disciplines.
In 2024, Impact Frontiers is working to break down these silos by collaborating with the following expert partners to build consensus on impact management practices to advance social equity:
Specifically, we are synthesizing knowledge across the domains of racial equity, gender equity, and data equity alongside our disciplinary grounding in impact management to advance social equity through the following two workstreams:
- Raising the social equity “floor”: We are conducting a social equity audit of the Norms of impact management facilitated by the IMP and now stewarded by Impact Frontiers. Based on this audit, we will propose updates to ensure that any investor referring to these Norms will approach impact management with a baseline level of social equity awareness and competency. We will solicit practitioner feedback on the proposed updates through a process of public consultation before updating the content of the Norms.
- Raising the social equity “ceiling”: We are exploring emerging impact management practices for practitioners who are currently allocating capital to achieve social equity outcomes (or are interested in doing so). Based on this research, we will develop guidance on implementing expert-informed, consensus-based practices of impact management.
Through this initiative we seek to center social equity, a fundamental element of impact, in the practice of impact management as it continues to grow and mature. By optimizing impact management for social equity through both avenues, we ultimately aim to facilitate better outcomes for end-stakeholders. We will invite feedback on our proposals via public consultation in Q3 2024.
We welcome your collaboration on this work and encourage you to share your ideas, learnings, and challenges on impact management practices for social equity. We are interested in hearing your thoughts on any aspect of this initiative, including the following questions:
- What social equity “blind spots” in organizational and investment impact management processes pose the risk of investors unintentionally perpetuating inequities?
- For investors currently engaged in efforts to advance social equity through their investments, what challenges have you encountered in impact management?
- What existing resources have you found particularly useful to advance impact management practices for social equity? What new resources (if any) do you think are needed?
Share your views in our Discussion Board below or reach out to us at email@example.com!