SOCAP22 Recap Part I: A digest from the largest and most diverse impact investing event in the world.
October saw the in-person return of SOCAP, which bills itself as the largest gathering of investors, entrepreneurs, and social impact leaders coming together to accelerate progress against the world’s toughest challenges through market-based solutions. The event, produced by SOCAP Global under the leadership of the Sorenson Impact Center at the University of Utah David Eccles School of Business, drew 4,000+ attendees to the Yerba Buena Center for the Arts in San Francisco. Over the course of a week, participants tackled problems and opportunities to advance justice; reimagine systems; deliver equity and inclusion; and discuss power, capital, and accountability. One trend covered heavily at the event that weaves together all those themes was the evolution of impact measurement in investing.
Key highlights
In this first of two blog posts, we’ll share a handful of key takeaways from various discussions throughout the week.
The field of impact investing measurement traces its roots back to the Global Impact Investing Network’s 2008 development of the IRIS Catalog of Metrics, which—along with the United Nations’ Sustainable Development Goals—have evolved into today’s generally accepted system for measuring, managing, and optimizing impact.
The years that followed saw an evolution in the operating principles and verification systems used to guide how impact considerations and measurement are integrated into the investment lifecycle. We should expect that professional services firms will continue to build and offer impact auditing and verification services as impact standards and norms mature.
Remember that impact measurement needs to be intensely practical to an organization’s operating needs. Think bottom up, not top down. As one panelist said it, “If it’s not useful to you, it’s just vanity metrics!” Another panelist shared their perspective, saying “No data without stories, and no stories without data.” We at CLA agree.
Tune in next week
Whether you’re an investor, a donor, an entrepreneur, or a nonprofit leader, we hope you find these key takeaways from SOCAP22 helpful as you consider your own investing and impact measurement practices. Tune in next week and we’ll round out this recap by covering a few additional takeaways from this global gathering of investors, entrepreneurs, and social impact leaders.
This content was created by CLA’s Ben Aase, Principal.
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