2021 年 21 巻 1 号 p. 113-126
The worldwide investment needed to achieve Sustainable Development Goals (SDGs) by 2030 is approximately $5 trillion to $7 trillion per year. Impact Investments are approaches to mobilise more private finance toward the achievement of SDGs. Now, the convergence of Impact Measurement Methods (IMMs) for Impact Investments represents a central challenge for the development of the market. To reveal divergences and offer suggestions for overcoming the challenge, this article conducted a comparative analysis of the 25 IMMs commonly used by impact investors, based on the surveys by Global Impact Investing Network (GIIN) in 2017 and 2019. As a result, the analysis revealed divergences among the 25 IMMs that could result in different measurement results, and it categorised the IMMs into three groups of Reporting Standard, Performance Rating and Project Evaluation. Based on the analysis, this article further provided a guidance to select IMMs and concluded that research toward the convergence of ESG evaluations is of prime importance.