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04 [ In good company ] The venture capital model has failed far too many smaller firms seeking the funds to grow. A fresh approach is needed, argues Jerry Davis.

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#12 December 2023

20 CHF

[ IMPACT ECONOMY ] What is the impact economy and why should it matter? And how do you know if your actions are making a positive difference? Our 40-page report provides the answers. Cover picture: Created using Microsoft Image Creator

THE RISE OF STEWARD-OWNERSHIP BIODIVERSITY AND eDNA IMPACT ECONOMY HOW TO MAKE A POSITIVE DIFFERENCE

BLENDED FINANCE DRIVES PROGRESS

EMPOWERING NEURODIVERSE TALENT

REBUILDING COMMUNITIES LESSONS IN LAUGHTER

ibyimd.org

07 Vanina Farber and Patrick Reichert propose using the ‘Theory of Change’ as a model to measure if your actions are achieving the results you seek.

10 Economies across Africa are being transformed by targeted investment, but more needs to be done. Maryanne Ochola offers six ways to accelerate the pace of change. 12 ‘Civic wealth creation’ is strengthening local communities through commerce and collaboration. Sophie Bacq and Tom Lumpkin explain how such initiatives can help to solve complex local problems.

17 By taking a lead in the impact economy, women can transform the way business operates and change lives, writes Shelley Zalis. 18 Impact metrics are about more than just keeping regulators and investors happy, argues Sonja Haut, they can also help to unearth new pockets of value for companies.

2 I by IMD • December 2023

22 Blended finance has the power to unleash the capital needed to drive progress toward the UN Sustainable Development Goals. Maximilian Martin explores the options. 26 The responsibility to maximize profits guides how institutional investors invest on behalf of others. But that does not mean investing in climate change is off the table, explain Emil Moldovan, Todd Cort, Matthew Goldberg, Jennifer Marlon, and Anthony Leiserowitz. 30 Adrian Hensen, Co-founder of the Purpose Foundation, explains to Bryony Jansen-van Tuyll how the model of steward-ownership equips businesses to deliver positive change. 34 Activist investors have the power to direct the corporate world to embrace positive change. Kristin Hull offers a four-step guide to effective engagement. 36 With over two-thirds of species lost in the past 60 years, regulators want businesses to be accountable for their biodiversity impact. Adrian Dellecker explores the rise of biodiversity data startups seeking to help companies to adjust.

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39 Be inspired by some wise words on making an impact from a book of quotations compiled by IMD’s Dominique Turpin .

40 Ventures that change ecosystems will help to develop the impact economy, writes Adrian Ackeret. He offers three ‘levers’ to add value and support innovation.

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43 Impact venture capital in Europe is generating lower financial returns than its traditional counterpart. Valentina Masseretti, Anita Quas, Stefano Romito, and Clodia Vurro offer possible reasons why.

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