The Joint Impact Model Foundation
Our Mission
To empower financial institutions, especially in emerging economies, with robust, standardized, and transparent tools that quantify impact, assess climate risk, and accelerate the transition to a climate-neutral, inclusive economy.
Our Vision
We strive for an inclusive, aligned, and actionable financial sector that drives sustainable development and climate resilience by equipping institutions with harmonized, open-access tools for impact measurement and decision-making.
Who we are?
The Joint Impact Model (JIM) Foundation was founded in May 2022 to establish credible governance of the development of the Joint Impact Model (JIM). Established from the collaboration of development finance institutions (DFIs) and multilateral development banks (MDBs), the JIM Foundation is a member-driven nonprofit that transforms proprietary approaches into public tools, helping financial institutions respond to growing climate and impact disclosure requirements.
There is a growing need for impact investors to contribute towards convergence around a globally accepted system for impact reporting. Harmonization will not only provide clarity on the impact the private sector is having on the SDGs in emerging markets, but also help unlock finance and mobilize action to the places that need it most. It will assist the just transition toward a climate-neutral economy and help address the socio-economic impact of the transition.
Furthermore, emerging economies face enormous pressure to reduce emissions while developing their economies. Unfortunately with very few exceptions, the private sector is not sufficiently engaged in carbon accounting or signing up to net zero and they do not have the tools to do so.
The JIM foundation aims to fill this gap through the Joint Impact Model (JIM). The JIM is a web-based tool which enables the reporting and assessment of systemic impact indicators such as jobs, contribution to GDP, and greenhouse gas emissions related to investments of financial institutions.
Why the JIM?
Measuring and reporting on impact in a consistent and comparable way is essential to evaluate progress towards global development needs and priorities, assess effectiveness of investments and drive impactful actions.
Prior to 2019, approaches to measure and report on the indirect impacts of investments has varied from one organisation to the next. Even though indirect impacts are fundamental to understanding the development effects of investments, measuring them is complex, and even more so for a full portfolio of investments. Several international finance institutions (IFIs) as well as the consultancy Steward Redqueen recognized this challenge and explored opportunities to align the IFIs approaches on indirect impact modelling. As a result, in January 2021 the IFIs launched the Joint Impact Model (JIM).
Guiding Principles
Established in May of 2022, the JIM Foundation manages the JIM and creates credible oversight for its development. Specifically, the JIM Foundation aims to help financial institutions to:
Reporting Efficiency
Measure impact and gain credibility from investors as the JIM will continue to align to globally accepted standards and best practices including actors in emerging and developing markets.
Reporting Efficiency
Simplify impact reporting and reduce operational costs with aligned and standard data across emerging economies.
Strategic Capacity
Build strategic capacity on making impactful Investments. Users can benchmark performance by comparing impact outputs across geographies and sectors, and by leveraging the tool insights to shape and make impact investing actionable.
