Impact finance, illusions and realities

The transition of the global economy towards more equitable and sustainable modes of production is only possible if it is accompanied by investment and innovation strategies that go beyond financial returns to include social wellbeing. As part of a logic that combines finance and sustainability, impact finance assumes that investors voluntarily induce direct and measurable social and environmental benefits from companies. This means rethinking their strategies and actions over the long term. From an implementation point of view, a redefinition of the objectives, the framework and the instruments for measuring the effects of these investments is required. This implies cooperation between the public and private sectors and between states so that virtuous financing can become a reality.
Also, how effective are impact investments? What kind of global governance is needed to encourage it? To what extent do green bonds make companies greener? How to avoid greenwashing or SSE-washing? What are the impacts of taking climate change into account in the European Central Bank’s monetary policy?