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Professor Christine Mahoney, from the Frank Batten School of Leadership and Public Policy at UVA, was a recent speaker for On-Air with UVA. Professor Mahoney, Professor of Public Policy and Politics, and Director of Social Entrepreneurship, shared her thoughts on how one can Making Your Money Work for You and the World: Social Enterprise, Impact Investing, and the Power of Investing for Good.
As you listen to this episode, you will hear her reference an “alphabet soup” of organizations and acronyms related to social entrepreneurship. See below for the organizations and acronyms referenced:
- CSR – corporate social responsibility
- SRI – Socially Responsible Investing
- ESG – Environmental, Social, and Governance
- B Corp – A voluntary certification bestowed by the non-profit B Lab
- Benefit Corporation – An incorporation option for companies in some US states
Metrics and Measurement resources:
- The United Nations developed the PRI – Principles for Responsible Investing – 6 Principles for Responsible Investment that are a voluntary and aspirational set of investment principles and accompanying possible actions that support incorporating ESG issues into investment practice. Over 3000 investment managers, asset owners, and service providers have become signatories to the PRI. https://www.unpri.org/pri/an-introduction-to-responsible-investment/what-are-the-principles-for-responsible-investment
- World Banks’ Operating Principles for Impact Management – They provide a framework for investors to ensure that impact considerations are purposefully integrated throughout the investment life cycle.
- Global Impact Investing Network (GIIN) –launched IRIS – Impact Reporting and Investment Standards a decade ago. After 10 years of research and improvement, they just launched IRIS+, which is a generally accepted system for measuring, managing, and optimizing impact.
- B Lab – B Corp Certification, B Analytics – launched their GIIRS Rating – Global Impact Investing Rating System – a decade ago and also recently did an overhaul of the system, based on a decade of learning. The new system coincides with B Lab’s process of certifying that companies are rigorously measuring and tracking their social and environmental impact (B Corp certification) and translating that framework for impact investors to rate funds that manage their portfolio’s impact with the same rigor as their financial performance.
And one more important piece of news, Social Entrepreneurship @ UVA has just been recognized by Ashoka through their #millionsofchangemakers campaign as a global leader in social entrepreneurship and changemaker education. Learn more on our website: www.seatuva.org/changemakerlabs
And watch this amazing video UVA has created about their work: https://bit.ly/changemakervideo