Measuring Impact and Non-financial Returns in Impact Investing: a Critical Overview of Concepts and Practice

This paper offers a critical overview of concepts and practices related to measuring impact and non-financial returns in impact investing. It delves into the complexities and challenges of quantifying social and environmental outcomes, distinguishing them from traditional financial metrics. The authors analyse various approaches to impact measurement, highlighting both their strengths and weaknesses, and discuss the ongoing debate within the field about standardization and effectiveness in assessing the true impact of investments.