‘Empty Promises’ Could Pop Bubble of Investing for Good
By Karolin Schaps
Investors in projects that do environmental or social good said on Thursday that their burgeoning industry’s reputation was at risk because they could not measure their impact.
The $500-billion impact investment industry – from green energy schemes to homeless services – is growing rapidly as wealth shifts into the hands of women and millennials who want to invest with a purpose beyond profit.
But its rising popularity has seen companies overstate the positive impact of their ventures in a practice known as “impact washing”, said experts at the Global Impact Investing Network (GIIN) summit in Amsterdam on Thursday.
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