EVPA becomes a Strategic Partner of the Impact Management Project (IMP)
By formalising a strategic partnership with the IMP, EVPA joins a group of market-building organisations that are championing a consensus-led approach to agreeing on best practices for impact measurement and management
EVPA has come a long way in the development and harmonization of impact measurement and management (IMM) across European stakeholders. Back in 2013, we developed a five-step process to measure and manage impact, which is presented in our Practical Guide to IMM. The EVPA 5-step framework has also informed the European Standard for IMM developed by the GECES (i.e. the European Commission Expert Group on Social Entrepreneurship). Building on this Practical Guide, we have developed different research and dissemination material and each year, we organise a training focused on IMM for practitioners in partnership with Social Value UK.
Additionally, as of today, 350 individuals have signed the Charter of Investors for Impact, developed last year by EVPA. Principle 5 of this Charter is about IMM.
The Impact Management Project (IMP) provides a forum for building global consensus on how to measure, manage and report impacts on sustainability. It is relevant for enterprises and investors who want to manage environmental, social and governance (ESG) risks, as well as those who also want to contribute positively to global goals. The IMP convenes a Practitioner Community of over 2,000 organisations to debate and find consensus on technical topics, as well as share best practices. It also facilitates the IMP Structured Network – an unprecedented collaboration of organisations that, through their specific and complementary expertise, are coordinating efforts to provide complete standards for impact measurement and management.
By formalising a strategic partnership with the IMP, EVPA joins a group of market-building organisations that are championing a consensus-led approach to agreeing on best practices for impact measurement and management - and then disseminating this content across their specific communities of practice. To see who the other IMP Strategic Partners are, go here.
The impact management norms agreed through the consensus-building work of the IMP is one of the most frequently used resources by the community of impact funds (42% of the 2020 Investing for Impact Survey respondents). A smaller group of foundations and other engaged grant-makers (12% of respondents) also reported to have used the norms. This data is taken from the 2020 Investing for Impact Survey which, among other practices, investigates the adoption of different frameworks available for developing an IMM system.
Thus, the aim of this partnership is to support the EVPA’s members to implement impact management norms agreed through the IMP’s earlier consensus-building work, as well as engage with a community of practitioners to delve into technical issues and identify areas where further consensus is required. See, for example, the three recently published discussion papers following the IMP’s facilitation of technical discussions covering impact monetisation, impact ratings and standardisation in impact management, which took place on the online discussion forum, Managing Impact. Throughout 2021, the EVPA will work with the IMP to reflect the impact management norms in its 5-step framework. This follows the same rationale behind the IMM Principles put together thanks to our collaboration with Social Value International.
Given the IMP’s current facilitation of standard-setters and the importance of their collective work, the IMP will also work with the EVPA team to disseminate relevant information on progress to the EVPA’s members, all with a view to supporting members’ implementation of leading global standards.
We strongly believe the community will benefit from some clarity on how these frameworks are complementary and might be combined in order to improve investors for impact’s approach to managing their social impact. This is why we are very much looking forward to strengthening EVPA collaboration with IMP in the coming months!