World Bank’s Finance Arm Battles “Impact Washing” with New Standards
To battle so-called “impact washing”, more than 60 asset managers and institutional investors have teamed up with the World Bank’s International Finance Corporation, to bring greater transparency and comparability to impact investing. FTfm reporter Chris Flood says the IFC has developed a new framework that lays out nine principles that, among other things, require asset managers to document the expected and actual impact of impact investment projects. Critics have warned that the lack of uniform standards has led to investing abuses that threaten to undermine the growth of an investment sector that could reach $26 trillion in investments in coming years.
Bill McGarvey
Bill McGarvey
co-founder
Entrepreneur, award-winning writer, editor and artist, Bill McGarvey has written on art, culture, politics and religion and has been featured in/written for The Washington Post, NPR, BBC, the New York Times, Time Out New York, The Tablet (London), Commonweal, Factual (Spain) and Book. He co-authored The Freshman Survival Guide published by the Hachette Book Group USA that has sold over 130,000 copies to date and was featured on The Late Show with David Letterman.