Community Development Innovation Review

December 2010

A Role for the Feds? The Opportunities and Challenges in a Federal Government Role in Measuring and Defining Social Impact in the Impact Investing Field


The impact investing field has made notable strides in recent years in developing metrics for measuring and evaluating the social impact of its investments. This includes the launch of the Global Impact Investment Rating System (GIIRS), which offers a third-party social and environmental impact assessment of companies and funds resulting in a rating that institutional investors and investment intermediaries can rely on in making investment decisions. It also includes the development of the CDFI Assessment and Rating System (CARSTM), which offers both a financial and social performance rating for Community Development Financial Institutions (CDFIs). Both are examples of social performance metrics that have been developed by a coalition of impact investors and impact oriented companies.