What challenge was the inspiration for your project?
At this moment businesses, professionals and the economy at large focus primarily on financial value creation for shareholders. Social, natural and human value creation for all stakeholders, such as local communities or future generations are a ‘nice to have’ at best. Therefore, the current climate, biodiversity, health, poverty and inequality crises are part of ‘business as usual’.
What was your innovation that addresses this problem?
At Impact Institute we developed the data, software education and advisory services that help organizations measure, manage and improve their impact on society. Our goal is that every company develops and publishes impact weighted accounts. This is an overview of all financial, social and natural impacts of organizations. This helps organizations to create long term value for all stakeholders, on all capitals, minimize ‘true’ societal costs and contribute to SDG’s and the Paris Climate Agenda. In addition, we want every professional to be impact professionals, by providing them with the education to do impact analyses and develop an impact strategy.
What impact has Triodos had on your business?
Triodos Regenerative Money Centre supports us with scaling our impact software, data and digital education products. We have more than fifty people and work with leading businesses and banks globally. With the investment of Triodos Regenerative Money Centre we further develop our products and implement those at more organizations. This can significantly reduce pressure on nature and enhance social and human wellbeing.
What impact has your business had on the sector you work in?
Impact Institute creates value in the form of intellectual capital, such as data and education, for its clients. Ultimately, we believe that this is the best way to foster an impact economy in which entrepreneurship, work, technology and innovation lead to wellbeing for all. We work on an open source standard for impact accounting with amongst others Harvard Business School, through the Impact Economy Foundation.
What impact has your business had on the community?
Impact Institute’s mission revolves around reducing negative impacts and increasing positive ones. We have developed the first method worldwide to calculate the true costs of products, if you consider underpayment, enslavement or climate change contribution. Tony’s Chocolonely has applied this and paid millions more to small holder farmers and now dozens of companies use this methodology. We were also the first to implement integrated profit and loss statements at a variety of large (listed) companies. This supported their sustainability plans and helped improve the wellbeing of their employees or reduce their climate footprint.
How does Triodos Bank share your vision?
Triodos has a mission to contribute to a better world – this is exactly the same mission as we have.