• Case Study

The State of Impact Investing in Latin America

  • Source : Bain and Company
  • 2 January 2014
This report provides an overview of the state of impact investing in Latin America, focusing on key challenges and opportunities in sourcing investments and measuring impact. It highlights the growing interest in aligning financial returns with social and environmental impact in the region. The authors discuss the unique characteristics of the Latin American market and provide insights for investors and practitioners looking to engage in impact investing within this context.
  • Case Study

Filling the Gap: a Review of Multilateral Development Banks’ Efforts to Scale Up Financing for Climate Adaptation

  • Source : International Institute for Sustainable Development
  • 1 January 2020
This report assesses Multilateral Development Banks’ (MDBs) efforts to scale up financing for climate adaptation and align with the Paris Agreement. It highlights the persistent gap in adaptation finance needed by developing countries despite MDBs’ significant steps. The report identifies challenges such as difficulties in mainstreaming climate resilience across portfolios and emphasizes the need for MDBs to transition from stand-alone projects to integrating adaptation objectives into all investments. It concludes that success requires active support from developing country partners, improved finance tracking, alignment with national adaptation priorities, and private sector engagement.
  • Paper / Report

World Economic and Social Survey 2012: in Search of New Development Finance

  • Source : United Nations
  • 1 January 2012
The World Economic and Social Survey 2012 addresses the critical need for innovative financing mechanisms to achieve global development goals amidst declining traditional aid. It explores a range of potential instruments, such as international taxation and other novel initiatives, that could mobilise substantial additional resources for development. The report emphasizes that the success of these mechanisms hinges on strong international consensus and effective governance frameworks to ensure equitable and impactful allocation of funds.
  • Case Study

Feeling Good and Financing Impact: Affective Judgements as a Tool for Social Investing

  • Source : GESIS - Leibniz Institute for the Social Sciences
  • 1 January 2020
This article examines how investors’ emotional responses—“affective judgments”—influence decisions in social investing. Drawing on behavioral ethics, it argues that feelings like empathy and compassion shape investor perceptions of social impact, risk, and trustworthiness of opportunities. The authors propose a conceptual framework linking such affective mechanisms to investment evaluation processes, suggesting that harnessing or calibrating emotions intentionally could improve impact investment outcomes and decision transparency.
  • Case Study

The Role of Guarantees in Blended Finance

  • Source : OECD
  • 1 January 2021
This paper takes stock of the use of guarantees in the blended finance market, examining their key benefits, challenges, and barriers to more common deployment in developing contexts, especially in least developed countries. It investigates the potential role of guarantees in light of COVID-19 and post-pandemic recovery efforts. The paper concludes with recommendations for development agencies and public institutions to promote more ubiquitous use of guarantees, including improved uniformity in structuring and ODA-eligibility.
  • Case Study

Fact Sheet: Dc Water Environmental Impact Bond

  • Source : Goldman Sachs
  • 23 July 2025
This fact sheet details the DC Water Environmental Impact Bond (EIB), a pioneering “Pay for Success” model in the water sector and the first tax-exempt municipal bond of its kind. The EIB finances green infrastructure projects aimed at stormwater runoff reduction. It features a unique financial structure where contingent payments are made based on project performance against predetermined environmental outcomes. If the project exceeds targets, investors receive an outcome payment; if it underperforms, they make a risk-share payment to DC Water. This innovative bond allows DC Water to test new infrastructure while mitigating financial risk.
  • Case Study

The Risk and Return of Impact Investing Funds

  • Source : University of Chicago
  • 1 January 2022
This paper provides the first comprehensive analysis of the risk exposure and risk-adjusted performance of impact investing funds. Utilizing a new dataset of impact fund cash flows, it characterizes their risk profile relative to benchmarks, particularly venture capital funds. The study finds that impact funds exhibit a lower market beta than comparable private market strategies. While underperforming the public market when accounting for market risk, they do not underperform more than other private market strategies, offering crucial insights into their financial properties.
  • Blog

Blending with Guarantees: Hope or Hype

  • Source : Convergence Finance
  • 1 July 2019
This blog post by Justice Johnston explores the effectiveness and potential of using guarantees as a blended finance instrument. It likely discusses whether guarantees truly de-risk investments and attract private capital into development initiatives, or if their impact is overstated. The author probably delves into the mechanics of guarantees, their advantages in mobilizing finance, and the potential pitfalls or limitations. The piece aims to provide a nuanced perspective on guarantees within the blended finance landscape, helping practitioners understand when and how to best utilise this tool for maximum impact.
  • Case Study

The Potential and Limitations of Impact Bonds

  • Source : Brookings
  • 1 January 2015
This paper explores the potential benefits and limitations of impact bonds, which aim to attract private investment to social programs by linking returns to achieved outcomes. It discusses how these bonds can bring together diverse expertise, enable investment in prevention, and foster flexibility in service delivery. However, it also highlights challenges such as complexity, high development costs, difficulties in defining measurable outcomes, and the potential for limited innovation or the “financialisation” of public services.
  • Case Study

The Increasing Importance of Green Bonds as Instruments of Impact Investing -towards a New European Standardization

  • Source : “Social Impact Investments International Conference, Second Edition” Rome, 12-13 December 2018 - University La Sapienza (Italy)
  • 1 December 2018
This chapter examines the rapid growth of the green bond market in Europe and its role as a targeted impact investing tool for environmental and social governance (ESG) objectives. It highlights key challenges, including inconsistent definitions of what qualifies as “green” and the proliferation of diverse assessment frameworks. The author argues for a unified European standard—specifically the EU Green Bond Standard—to enhance clarity, transparency, and investor confidence. By analysing current instrument characteristics and regulatory gaps, the chapter advocates standardisation to responsibly align capital flows with sustainable development goals.
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