• Case Study

Banking on Reform

  • Source : E3G
  • 2 April 2018
This report argues that development finance institutions (DFIs) must undergo fundamental reform to align their operations with the Paris Agreement and the Sustainable Development Goals (SDGs). It examines how DFIs can shift from incremental changes to a wholesale strategic pivot towards climate-resilient and sustainable development. The paper provides clear recommendations for DFI shareholders and management, focusing on strengthening policy coherence, enhancing public transparency, and systematically integrating climate risks into all investment decisions. It stresses the urgent need for DFIs to act as powerful catalysts for mobilizing private finance for a global green transition.
  • Case Study

Impact Investing and Philanthropic Foundations: Strategies Deployed When Aligning Fiduciary Duty and Social Mission

  • Source : Journal of Sustainable Finance and Investment
  • 1 January 2021
This article examines the strategies employed by philanthropic foundations to align their fiduciary duties with their social missions through impact investing. It explores how foundations navigate portfolio management to generate both financial returns and positive social impact. The paper provides insights into the unique challenges and approaches of foundations in integrating impact considerations into their investment decisions, highlighting successful models and best practices.
  • Case Study

Private Market Impact Investing Firms: Ownership Structure and Investment Style

  • Source : International Review of Financial Analysis
  • 2 January 2022
This paper analyses over 8000 private market investment firms to differentiate between impact, ESG, and conventional investing. It reveals that impact investors are more frequently government-owned and tend to focus on sectors like agriculture, cleantech, and education, while avoiding “sin” industries. The study clarifies the distinctions in firm characteristics, investment preferences, and ownership structures among these ethical investment types, contributing to a better understanding of the evolving sustainable finance landscape.
  • Case Study

At the Nexus of Investment and Development: Lessons From a 60-year Experiment in Sme Impact Investing

  • Source : Practical Action Publishing
  • 1 December 2014
This case study analyses the 60-year history of a development finance institution focused on Small and Medium Enterprise (SME) impact investing in developing countries. It examines the long-term evolution of its financing strategies, risk management approaches, and the dual pursuit of financial returns and measurable development goals. The in-depth analysis reveals crucial lessons on the effective use of blended capital, the importance of patient investment horizons, and the necessity of integrated technical assistance to foster sustainable SME ecosystems. It highlights how catalytic investment can bridge critical financing gaps.
  • Case Study

Private Equity Investors Embrace Impact Investing

  • Source : Bain and Company
  • 2 January 2019
This report highlights the increasing adoption of impact investing by private equity (PE) investors, driven by a growing public concern for global challenges and evidence of strong correlation between ESG performance and financial returns. It differentiates between ESG-focused investors and impact investors, noting the rising demand from LPs for PE funds to consider ESG factors. The brief suggests strategies for fund managers to incorporate ESG and impact goals into their investment decisions.
  • Case Study

Assessing the Impact of Skill Impact Bond in India

  • Source : Oxford Policy Management
  • 1 February 2022
This report evaluates India’s pioneering Skill Impact Bond, a large-scale pilot program designed to enhance skill development and employment for 50,000 young people, with a strategic focus on including women. It meticulously analyses the bond’s effectiveness in improving enrollment rates, the quality of training provided, and final job placement outcomes. The assessment underscores the critical roles of adaptive governance, robust data systems for transparent performance management, and effective coordination among diverse stakeholders like the NSDC, funders, and service providers. It offers key lessons on implementing outcomes-based financing models.
  • Case Study

Impact Investing

  • Source : Journal of Financial Economics
  • 1 January 2021
This article examines impact investing within the context of venture capital, exploring its financial returns and unique characteristics. It analyses how impact investments differ from traditional venture capital by integrating social or environmental objectives alongside financial goals. The research provides empirical insights into the performance and structure of impact investing deals, contributing to a deeper understanding of this growing segment of the financial market.
  • Case Study

Are We Moving Towards a Truly ‘social’ Stock Exchange?

  • Source : IDR
  • 1 October 2021
This article evaluates India’s emerging Social Stock Exchange (SSE), discussing investor readiness, transparency mechanisms, and regulatory frameworks. It raises critical questions on labeling integrity, investor protections, and monitoring systems needed to prevent misuse. The piece emphasizes the crucial role of SEBI and civil society in safeguarding the legitimacy and effectiveness of the SSE, ensuring it truly mobilises capital for social impact rather than merely being a performative exercise.
  • Case Study

Principles and Practice of Impact Investing: a Catalytic Revolution

  • Source : Routledge
This book provides a comprehensive overview of impact investing, highlighting its growing global importance in addressing economic challenges and diversified societal needs. It positions impact investing as a “refocus” of venture capital for supporting societal impact enterprises. The book compiles contributions from international experts, discussing the movement’s foundations, analysing international cases, and exploring future trends, offering a practical guide for various stakeholders.
  • Case Study

Impact Bonds

  • Source : IE School of Global and Public Affairs
  • 23 July 2025
This case study provides an overview of impact bonds, specifically focusing on Social Impact Bonds (SIBs) and Development Impact Bonds (DIBs). It explains their structure as innovative financing mechanisms that link investor returns to the achievement of pre-defined social outcomes. The study explores how these bonds can incentivize effective social programs by shifting financial risk from governments or donors to private investors, thereby promoting efficiency and results-based approaches in development.
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