The International Foundation for Valuing Impacts (IFVI) is an independent nonprofit bridging the gap between financial accounting and impact measurement.
Founded in 2022, IFVI grew out of the Impact-Weighted Accounts Project at Harvard Business School.
Learn more about the people behind the organization:
What we do
At IFVI, we envision a just and sustainable global economy based on the full contribution of business to people and the planet. That’s why we’re creating the foundation for and championing the adoption of impact accounting, which will bring social and environmental impact to the forefront of decision-making.
Our mission is to build and scale the practice of impact accounting to promote decision-making based on risk, return, and impact.
How we do it
We’re working to accelerate the practice of impact accounting through two complementary work pillars:
- Research: Developing a methodology for impact accounting that converts social and environmental metrics into currency to create impact accounts that are transparent, comparable, and decision-useful.
- Market Development: Bring impact accounting to life through partnership with investors, companies, data providers, and the public sector.
Why impact accounting is necessary
Impact accounting brings practicality to the complex world of corporate sustainability disclosure. Translating environmental and social impact to the language of currency makes information about impact accessible, actionable, and comparable. Once impact is monetized, it can be measured and managed using the same infrastructure that already exists for financial management.
Alongside one another, financial reporting and impact accounting lay the foundation for a comprehensive assessment of an entity’s performance. Companies, investors, regulators, policy-makers, employees, and consumers can then make better decisions for people and the planet.