The 2017 Best for the World Funds
28 Funds Setting the Standard for Measured, Transparent Impact
Best for the World Funds have made a deep commitment to measuring impact using a holistic, third-party standard: The GIIRS Impact Rating system, developed by B Lab. All GIIRS rated funds have completed the most comprehensive standard that allows for benchmarking comparison across markets, and those named Best for the World represent the funds setting the gold standard.
As the phrase “impact investing” is tossed around more widely, the fund managers, investors, and even the general public looking for a positive-impact pension plan are seeking a common definition of what “impact” means. And they need a means to measure, benchmark and compare that impact. The independent nonprofit B Lab created the GIIRS Impact Rating system to help fund managers assess and verify the impacts of their portfolio companies. GIIRS Impact Rated funds, regardless of their differences or their stated impact objectives, have made a deep commitment to measuring their impact using a holistic, third-party set of standards, which allows for benchmarking, progress tracking, and comparison with other funds.
A 2017 survey, conducted by the Global Impact Investing Network (GIIN), found that in 2016 more than 200 self-identified impact investors made nearly 8,000 investments focused on positive impact, for a cumulative worth of $22.1 billion. These same investors anticipate that number will grow to $25.9 billion this year.
Admittedly, this figure is a drop in the bucket of the overall global capital markets but in recent years, financial giants — like BlackRock, Goldman Sachs and Bain Capital — have established specific units aimed at making “impact investments.” But what does that mean?
GIIRS is the best-in-class, evolving standard that allows investors to compare their impact performance to others in the field. Each fund’s portfolio companies are scored based on their performance on the B Impact Assessment, which is administered by B Lab and incorporates IRIS metrics. Each fund then undergoes a verification process at B Lab to become a GIIRS Impact Rated fund. The funds are able to benchmark their portfolio companies against 30,000 companies that have taken the B Impact Assessment—the only transparent comparison of its kind available to fund managers.
We are proud to present the 28 funds honored as 2017 Best for the World Funds. These funds represent $1.3 billion in assets under management. Twenty of the funds are investing in developing markets, while seven are operating in developed markets. Their investments range from India to Iowa, from healthcare to renewable energy, from private-equity to debt funds — but all of them and their portfolio companies have completed a rigorous, third-party review of their impact, setting them head-and-shoulders above the rest.
Explore the Lists
This year marks the first year honorees are listed by the category of impact, such as environment or community, in which they are leaders. You can find all of our Best for the World coverage on our hub page.
Here, you’ll find:
The Full Best for the World Funds lists (keep scrolling)
The Best for the World: Overall Funds (keep scrolling)
Stories and lists for each category’s winners:
2017 Best for the World Funds
Best for the World Fund Honorees are listed below alphabetically. To check out how these funds embody the values of transparency and sharing, click on the Network Map Link below to view each Fund Manager’s portfolio on the Case Foundation’s Impact Investing Network Map.
For the full criteria on how the list was created, review the criteria page. You can also download the list on data.world.
The Impact Investing Network Map
Over the last two years, the Case Foundation has been hard at work to develop the Impact Investing Network Map. The vision was to build a tool that will showcase the publicly available transactions between investors and companies within Impact Investing. By bringing the connections between actors to life — looking specifically at the investments that connect them — we can foster a better understanding of the size, breadth, depth and, importantly, the enormous potential of this field.
For the Case Foundation — alongside data partners ImpactSpace and Crunchbase — the goals for the Network Map are supported by a deeper desire to change behavior. By encouraging investors and entrepreneurs to publicly and responsibly share investment data, together we can make transparency a hallmark of the Impact Investing sector.
Best for the World: Overall Funds
GIIRS Impact Ratings funds receive a rating with two components: They are ranked bronze, silver, gold or platinum based on whether their portfolio companies’ purpose and mission inherently create social or environmental good. This is called the Impact Business Model (IBM) Rating. The second component of the rating is an Operations Rating, which is based on the companies’ governance structure, employee treatment and policies, community involvement, and environmental footprint. The Operations Rating is displayed as a star rating-ranging from Rated, 3-star, 4-star, or 5-star. This year’s Best for the World Overall honorees are divided by IBM andOperations rating, and whether the funds’ invest in developed or emerging markets, to allow for a more even comparison.
Best Overall: Impact Business Model
Best Overall: Operations
Previous Year’s Honorees:
B the Change gathers and shares the voices from within the movement of people using business as a force for good and the community of certified B Corporations. The opinions expressed do not necessarily reflect those of the nonprofit B Lab.
