This case study explores how the Builders Fund implemented the Impact Performance Reporting Norms to streamline impact report development. The Reporting Norms – designed to address a gap in existing impact standards, frameworks, and guidance – support fund managers in sharing private data with their capital providers under non-disclosure agreements and facilitate the sharing of positive, negative, and confidential information. 

With over a decade of experience in impact investing and public impact reporting, the Builders Fund saw an opportunity to enhance their reporting practices by adopting these industry-leading standards. In partnership with Proof, they were able to streamline data collection and reporting, enhance transparency, and deliver meaningful insights to their stakeholders. Their experience offers valuable insights for other impact investors looking to strengthen their reporting practices.

Background: The Builders Fund Approach to Impact

The Builders Fund is a private equity firm investing in purpose-driven businesses that generate collinear financial returns and positive social and environmental outcomes. Their impact focus encompasses three key areas:

1. Climate Solutions: Investing in companies that reduce resource consumption, minimize waste, and support climate resilience
2. Healthy Biosphere, Healthy Society: Business models that expand regenerative agriculture & aquaculture and sustainable consumer products, Food as Medicine, chronic disease management, and solutions to the mental health crisis
3. Shared Prosperity & Social Wellbeing: Supporting businesses that create quality jobs and economic opportunities in underserved communities, expand ethical supply chains & fair trade, and outcomes-based education

The fund works with multiple stakeholder groups, including limited partners seeking both financial returns and impact, portfolio companies building purpose-driven businesses, and communities impacted by these investments.

Understanding the Reporting Norms

The Reporting Norms, released in April 2024, provide a structured framework for communicating impact performance. Unlike many existing frameworks, the Norms specifically address how investors with the intention to contribute to positive impact creation can report with an emphasis on transparency and consistency.

They guide asset managers in clearly articulating:

• The actual impact results achieved across a portfolio
• The methodologies used to measure impact
• The relationship between financial and impact performance
• The context and limitations of reported data

The impact investing field has struggled with inconsistent reporting practices that make comparing performance difficult. The Reporting Norms address several challenges:

• Comparability: Enabling meaningful comparison between funds
• Credibility: Enhancing the credibility of impact claims
• Decision-usefulness: Providing information stakeholders can actually use
• Efficiency: Reducing reporting burden for asset managers and portfolio companies

Why Builders Fund Adopted the Norms

While the Builders Fund had established solid impact measurement practices, they recognized several compelling reasons to adopt the Reporting Norms:

1. Enhanced stakeholder communication: The Norms provided a framework to communicate impact more clearly
2. Industry leadership: As an established impact investor, they saw an opportunity to model best practices
3. Improved comparability: Making it easier for stakeholders to benchmark performance
4. Future-proofing: With increased regulatory attention on impact claims, adopting rigorous standards positions the fund well

"As systems thinkers, the Builders Fund team prioritizes field-building efforts that help refine our IMM strategy and strengthen the sector. We recognize the need for a shared impact performance reporting process that builds credibility with investors and can be replicated across all asset classes. To help catalyze this new standard, we've been actively involved in Impact Frontier's pilot program of the new Impact Performance Reporting Norms." - Amelia Ahl, Director of Impact Measurement and Management at the Builders Fund

The Implementation Process

Together with Proof, the Builders Fund took a practical approach to implementing the Reporting Norms:

1. Assessing existing practices: Mapping the Fund’s existing framework alignment – including the Sustainable Development Goals and GIIN IRIS+ metrics – against the Reporting Norms to identify reporting gaps
2. Stakeholder consultation: Understanding what information would be most valuable to limited partners
3. Refining metrics: Working with portfolio companies to ensure metrics were both aligned with the Reporting Norms and relevant to each business
4. Designing the report: Using Proof’s Report Generator to structure the report according to the Reporting Norms, including:
   1. Transparent methodology: Dedicated sections to document measurement approaches and assumptions
   2. Integrated financial and impact data: Connecting performance metrics with impact outcomes
   3. Digital reporting: Creating interactive reports that adhere to the Norms while allowing stakeholders to explore data at different levels
   4. Comparative analysis: Supporting benchmarking against industry standards and peers

Results and Lessons Learned

The implementation yielded several significant benefits for the Builders Fund, including:

• Stakeholder engagement: Limited partners received the first Impact Performance Reporting Norms report in Summer 2025, with the ongoing opportunity to provide feedback on the value and clarity on the new format
• Enhanced data quality: The structured process led to more reliable and complete impact data
• Better decision-making: Standardized data enabled more nuanced analysis
• Industry leadership: Early adoption positions the Builders Fund as a leader in impact reporting

Through their experience, the Builders Fund identified key lessons for other investors:

1. Focus on materiality: Focus on the impact dimensions most relevant to your investment thesis. Even if you can only report on some of the categories, just getting started provides a positive opportunity to build momentum and explain where you plan to head in future reports
2. Balance standardization and relevance: While standardization across portfolio companies can be helpful for benchmarking, metrics must remain meaningful to each business model
3. Build capacity: Portfolio companies may need support to understand the value of standardized reporting, so start discussing the benefits and use of impact data early on and allow time for it to be procured
4. Leverage technology: Digital platforms significantly reduce the implementation burden. Proof supported the Builders Fund to move from a spreadsheet-driven to digitally native reporting process, focused on interoperability and data sharing
5. Embrace iteration: Continuous improvement yields greater long-term value than perfect implementation

"For investors considering implementing the IPRN guidelines, start with the information you already have access to, share at least one case study that illustrates your work in action, and be transparent in the report about how you plan to evolve and improve your impact performance reporting over time. We repeatedly hear from LPs that transparency is the most important aspect of reporting. Rather than wait until you have more data, start with what you have and commit to continuous improvement." - Amelia Ahl, Director of Impact Measurement and Management at the Builders Fund

The implementation also revealed several challenges and opportunities:

Challenges:

• Finding the right balance between detailed reporting and the capacity of portfolio companies
• Establishing appropriate benchmarks across diverse business models
• Communicating methodological limitations without undermining confidence in reported impact
• Case studies – shown to be high priority element for LPs – are an area open for interpretation and that would benefit from further guidance and streamlining to avoid marketing style storytelling

Opportunities:

• Developing more sophisticated approaches to impact attribution
• Integrating the Reporting Norms with other frameworks
• Creating a community of practice to share best practices

Future Directions

Building on their implementation, the Builders Fund plans to evolve their approach in several ways:

1. Deeper integration with investment decisions: Connecting standardized metrics to screening, due diligence, and value creation
2. Enhanced portfolio company support: Developing resources to help companies use impact data effectively
3. Advanced attribution analysis: Working with Proof to better understand contribution to measured outcomes
4. Customized stakeholder views: Creating tailored reporting experiences for different audiences
5. Industry collaboration: Sharing lessons learned to contribute to the evolution of impact measurement standards

“The Reporting Norms were born out of a promise: to make impact reports more useful for asset owner readers, while reducing the reporting burden on impact fund managers. The experience of the Builders Fund shows how combining the Reporting Norms with technology solutions can be a powerful way to boost reporting efficiency — while also generating deeper, high-quality insights into real-world impact performance.” - Matt Ripley, Director, Impact Frontiers

Conclusion

The Builders Fund's implementation of the Reporting Norms through Proof's platform demonstrates how standardized reporting enhances both the practice and credibility of impact investing. By bringing greater clarity and comparability to impact reporting, this approach strengthens stakeholder trust while providing more actionable information.

As impact investing matures, adoption of standardized frameworks becomes increasingly important. Technology platforms like Proof play a crucial role in making these standards practical and accessible. Through their partnership, Proof and the Builders Fund are not only improving their own reporting practices but also contributing to advancement of the broader field. Their experience offers valuable insights for investors navigating the evolving landscape of impact measurement.

Emulate Energy, a Swedish technology company, is reshaping the future of renewable energy with its groundbreaking virtual battery solutions, designed to unlock the full potential of distributed energy resources (DERs). As the world increasingly turns to renewable power from intermittent energy sources like solar and wind, balancing supply and demand becomes increasingly complex. Emulate Energy is tackling this challenge head-on by optimizing DER behavior in real-time to respond to market signals and price fluctuations–offering a solution that’s as financially smart as it is environmentally transformative.

Empowering Impact: How Emulate Leverages Proof

In 2022, Emulate Energy partnered with Proof to quantify and communicate the full value of its technology. As a startup, Emulate faced the challenge of translating its innovative virtual battery technology into measurable environmental and social impacts. That’s where Proof came in, providing Emulate with a sustainability measurement platform that transformed complex data into compelling sustainability metrics.

“Start somewhere, even if it’s not perfect. The key is to get started with impact measurement and continuously improve over time.” - Shwan Lamei, Co-Founder and CEO of Emulate Energy

1. Double Materiality Assessment & Metric Design

Proof worked closely with Emulate to conduct a comprehensive double materiality assessment, which expanded beyond environmental factors to uncover key social impacts–including workforce inclusion and public health benefits. Avoiding a common pitfall of “carbon tunnel vision,” Proof designed a set of metrics to track the full spectrum of Emulate’s impact, including water usage, human toxicity impacts, greenhouse gas (GHG) emissions, and more. To estimate the unique impacts of Emulate’s virtual battery technology, Proof integrated data from a leading report by researchers at the University of California Santa Barbara, "The Environmental Impacts of Utility-Scale Battery Storage in California," that compares the impact of energy from virtual batteries to energy from natural gas.

2. Framework Alignment

Through the Proof platform, Emulate Energy automatically aligns its sustainability efforts with global frameworks like the UN Sustainable Development Goals, the ESG Data Convergence Initiative, the GHG Protocol, GIIN IRIS+, and SFDR. This alignment not only reinforces Emulate’s commitment to global sustainability standards but also provides investors and clients with confidence in their long-term vision.

3. Data-Driven Decision Making

For Emulate, accurate data collection was vital, but as an early-stage startup, gathering data and translating data into actionable indicators proved challenging. Proof’s automated platform translated Emulate’s operational data – for example, the number of devices controlled and the amount of energy delivered – into meaningful impacts, like GHG emissions avoided, human toxicity impact, and freshwater eutrophication. This real-time feedback allows Emulate to continuously review precise and actionable insights on their performance dashboard, allowing them to adjust strategies on the fly and deliver impactful results to both investors and clients, further accelerating business growth.

4. Transparent Reporting

In addition to internal analysis, Proof helped Emulate simplify its reporting processes, making it easier to share key sustainability data with prospective clients and investors. By using Proof’s pre-built reports, Emulate transforms complex sustainability metrics into compelling narratives, strengthening relationships with investors, attracting new customers, and driving business growth.

For customers and investors who aren’t experts on Emulate’s technology, it is critical to translate technical data into relatable terms. For example, Proof automatically translates Emulate’s greenhouse gas emissions avoided into the equivalent number of trees planted using emissions factors from the EPA Greenhouse Gas Equivalencies Calculator, making Emulate’s contributions more relatable and accessible for a wider audience.

Transforming Impact into Business Value

By proactively measuring and managing its sustainability performance, Emulate achieves financial and impact outperformance.

Capital Raise

Proof’s tools enable Emulate to effectively communicate its sustainability performance to impact investors, significantly strengthening its capital raise position. This success was highlighted by Emulate’s impressive $3 million Seed round in 2023. By continuously showcasing their clear ESG commitments, Emulate strengthens relationships with existing investors and proactively sets the stage for future capital raises from impact-minded investors.

Client & Stakeholder Trust

It isn’t just investors who have taken notice of Emulate's sustainability leadership. Automated reporting with Proof has also enhanced Emulate’s transparency with clients and stakeholders. With interactive digital reports blending quantitative data with qualitative insights, Emulate builds customer trust and engagement, further positioning itself as a sustainability leader.

According to Emulate's Co-Founder and CEO Shwan Lamei, “Sustainability data helps us communicate our impact clearly, particularly to our impact investors. It’s a powerful tool for building trust with customers and stakeholders. We believe that showing the tangible benefits of our work helps align expectations and demonstrates that doing good is good for business.”

Business Growth Through Sustainability

The integration of sustainability metrics into Emulate’s business strategy has bolstered the company’s reputation as a leader in the energy transition. By quantifying their positive impact while also being transparent about improvement areas, Emulate has positioned itself to scale its solutions while contributing a just energy transition. Since 2022, Emulate has seen a substantial increase in the number of devices under its control, providing concrete evidence that sustainability and scalability go hand-in-hand.

Looking Ahead: Scaling for the Future

Together with Proof, Emulate Energy continues to expand its sustainability impact, constantly refining metrics and reporting to stay at the cutting edge of the clean energy movement. As Emulate scales, the company has plans to measure its Scope 1-3 greenhouse gas emissions and publish an inaugural impact report to highlight the company’s long-term sustainability targets and achievements.

In just a few short years, Emulate Energy has proven that sustainable energy solutions are not only possible– they are powerful engines of growth, ready to drive the world towards a cleaner, greener future.

“For us, doing good is directly tied to business success. Our revenue is closely linked to the impact we create, so focusing on making a positive difference aligns perfectly with our business operations. By accelerating the energy transition and reducing costs for everyone, we ensure that our actions drive both profit and progress toward sustainability.” - Shwan Lamei, Co-Founder and CEO of Emulate Energy

Introduction

For private companies and investors, understanding carbon footprints is becoming increasingly crucial. This guide will explain the three scopes of greenhouse gas (GHG) emissions in simple terms, with concrete examples relevant to various business types and investment portfolios.

What are Greenhouse Gas Emissions?

Greenhouse gases trap heat in the Earth's atmosphere, contributing to global warming. The main GHGs include carbon dioxide (CO2), methane (CH4), and nitrous oxide (N2O). When we talk about GHG emissions, we're referring to the release of these gases into the atmosphere as a result of human activities.

The Three Scopes of GHG Emissions

GHG emissions are categorized into three scopes to help organizations and investors understand and manage their carbon footprint:

Scope 1: Direct Emissions

These are emissions that a company directly produces from owned or controlled sources.

• Examples:
  • Fuel combustion in company-owned vehicles
  • Natural gas used for heating facilities
  • Industrial processes
  • Fugitive emissions from owned equipment

Scope 2: Indirect Emissions from Purchased Energy

These are emissions associated with the generation of electricity, heating, and cooling that a company purchases and uses.

• Examples:
  • Electricity used to power offices, stores, or production facilities
  • Purchased steam or heating for workspaces
  • District cooling for data centers

Scope 3: All Other Indirect Emissions

These are emissions that occur in a company's value chain, both upstream and downstream. They're often the largest source of emissions but also the most challenging to track.

• Examples:
  • Business travel (e.g., flights, rental cars)
  • Employee commuting
  • Waste generated in operations
  • Transportation and distribution (both upstream and downstream)
  • Purchased goods and services
  • Use of sold products
  • Investments (particularly relevant for financial institutions)

Visualizing the Three Scopes

Why Should Private Companies and Investors Care About GHG Emissions?

• Regulatory Compliance: Many countries are introducing emissions regulations affecting various sectors, including certain states in the United States.
• Risk Management: Understanding emissions helps identify and mitigate climate-related risks.
• Cost Savings: Emissions analysis can reveal opportunities for energy and resource efficiency.
• Competitive Advantage: Low-emission businesses may attract more customers, partners, and investors.
• Environmental Responsibility: Reducing emissions contributes to combating climate change.
• Investment Decision-Making: For investors, understanding portfolio companies' emissions is crucial for assessing long-term value and risk.

Getting Started with Emissions Tracking

For private companies and investors looking to begin emissions tracking:

1. Identify the most significant emission sources across all three scopes.
2. Establish systems to collect and analyze emissions data (e.g., energy consumption, supply chain information).
3. Consider using sustainability software to streamline the process.
4. For investors, engage with portfolio companies to encourage emissions tracking and reporting.
5. Set science-based targets for emissions reduction and develop strategies to achieve them.

Conclusion

Understanding and managing GHG emissions is a critical step for any private company or investor looking to reduce environmental impact, manage risks, and prepare for a low-carbon future. By breaking down emissions into these three scopes, organizations can more effectively identify, measure, and reduce their carbon footprint, while investors can make more informed decisions about the long-term sustainability of their investments.

Ready to get started? Simplify GHG emissions accounting with GHG 360.

Regenerative Food Systems Investment (RFSI) Europe is the convening to catalyze investment in regenerative agriculture and food, bringing together funders, farmers, founders, and other changemakers at the forefront of advancing regenerative agriculture and food systems.

At Proof, we believe in the transformative power of Regenerative Agriculture in reshaping our food systems for shared environmental, social, and economic prosperity. We are committed to supporting the regenerative movement with impact measurement and data intelligence tailored to this dynamic industry.

Join Us

Explore opportunities to expand your regenerative impact at RFSI and beyond

1. Attend the RFSI Workshop - Regenerative Impact Measurement
2. Regenerative Agriculture Working Group
   1. Review the Blueprint
   2. Join the Working Group
3. Join the Regenerative Agriculture Community
4. Report your Regenerative Impact with Proof

1. RFSI Workshop - Regenerative Impact Measurement

Proof is proud to join RFSI Europe, leading a session on Regenerative Impact Measurement on February 29 at 2:45 pm. The workshop will be facilitated by Clara Cecil, Proof's Head of Customer Success.

Session Description

How do you quantify regenerative impact? Over the past year, Proof and Trailhead Capital have convened 20+ leading investors, enterprises, and NGOs to establish the standard KPIs for regenerative agriculture - designed for and by regenerative trailblazers. From Expanding Regeneratively Managed Land and Reducing Atmospheric Carbon to Reducing Food Waste, we've defined 20 KPIs to date and are setting the standard to inform impact investing benchmarks.

We invite investors, farmers, and enterprises alike to collaborate and refine the KPIs and measurement best practices. Whether you're seasoned in impact measurement or just starting out, dive into our discussion and gain invaluable insights into the key indicators driving regenerative success.

Facilitated by Proof - the technology platform for regenerative agriculture impact measurement - this session will also provide a sneak peek into highly anticipated upcoming focus areas for the working group - Nutrient Density, Biodiversity, and Water Conservation - and explore the pivotal role of regulations such as SFDR and CSRD in propelling ESG and impact reporting requirements forward. Join us and be part of the movement redefining how we measure regenerative impact.

Learning Outcomes:

1. Understand key indicators to define regenerative success
2. Identify obstacles and opportunities for farmers, enterprises and investors in measuring regenerative impact
3. Provide crucial feedback on the working group KPIs to inform continuous improvement

2. Regenerative Agriculture Metric Blueprint

The Regenerative Agriculture metric blueprint outlines a set of key performance indicators (KPIs) identified by a working group of regenerative agriculture experts and practitioners, led by Proof and Trailhead Capital. The blueprint is designed to help regenerative agriculture investors and businesses select industry-specific metric sets and promote harmonization for impact measurement. It’s intended to be broadly applicable to investors and businesses who invest in or operate directly managed land, as well as those who invest in or provide upstream and downstream services in agricultural supply chains.

This blueprint covers six impact categories:

1. Expand the amount of regeneratively managed land
2. Reduce atmospheric carbon
3. Reduce food waste - In progress
4. Conserve water - Coming soon
5. Improve food nutrition and nutrient density - Coming soon
6. Increase biodiversity - Coming soon

3. Regenerative Agriculture Community

Connect with a global ecosystem of world-changers

The Proof Sustainability Community is a one-of-a-kind community of companies, investors, advisors, subject matter experts, guest speakers, and the Proof team of specialists. The Proof Sustainability Community is a place for regenerative agriculture trailblazers to:

• Connect with fellow RegenAg investors and entrepreneurs
• Learn from Proof's impact measurement experts through practical guides, checklists, and more
• Explore how to achieve your company's business and impact goals through impact data intelligence - from attracting impact-driven investments to expanding your market presence to enhancing performance

When you join, you'll access 50+ sustainability and regenerative agriculture resources and guides, including:

• Quantify the Economic Benefits of Regenerative Agriculture
• Articulate the Environmental Benefits of Regenerative Agriculture
• Explain the Social Benefits of Regenerative Agriculture
• Understand Regenerative Agriculture Transition Risks
• Regenerative Agriculture community forum - Ask the community your pressing questions about regenerative impact measurement

4. Report your Regenerative Impact with Proof

Proof is a next-generation sustainability data intelligence company building end-to-end tools that help companies and organizations optimize for purpose and profit simultaneously. Proof's digital platform offers full lifecycle support for regenerative agriculture funders and founders, from metric definition and framework alignment to reporting and storytelling, with the goal of building intelligent impact systems that grow with your data.

Proof and Human Kind are partnering drive digital-led sustainability transformations for enterprises.

In the first article of this 2-part series, we shared three strategies for achieving sustainable outcomes through digital transformation.

Discover two additional pivotal lessons to support the success of your digital transformation programs.

Strategy 4: Measure and Manage Performance

With KPIs in hand, it is critical to measure and manage your impact performance consistently. 

Start by aligning with industry standards. Pull metrics from standard catalogs and frameworks such as SASB, GIIN IRIS+, the Sustainable Development Goals, the Greenhouse Gas Protocol, and the Data Convergence Project.  The Proof platform seamlessly aligns with the leading standards and frameworks to ensure you adhere to the latest best practices.

Then, determine your data availability. Does the data live in existing systems (e.g. CRM, ERP, or HR system)? Will you need to implement new systems to collect data? Will you require additional support with reporting? For example, reporting on Greenhouse Gas Emissions may require additional resources to estimate Scope 1-3 GHG emissions.

Consider your preferred reporting frequency. It is advisable to collect data quarterly, semi-annually, or annually. While more frequent data collection allows for greater monitoring of sustainability performance, it also demands a higher time commitment. 

Your organization should conduct sustainability performance reviews with your ESG Team after each data collection period. This review enables you to assess areas of outperformance and identify opportunities for improvement.

Strategy 5: Apply Learnings for Continuous Sustainable Value Creation

Through the combination of Proof's data insights and Human Kind's strategic consultancy, we can apply creativity, design and technical solutions to generate digital transformations that are both sustainable and commercially viable.

This collaboration supports continuous improvement, with Proof’s cutting-edge impact intelligence allowing businesses to evolve their sustainability strategies in response to changing data and market demands. This intelligence feeds directly into existing programs and supports new digital innovation and transformation programs.

Here are examples of businesses that have utilized digital transformation to drive sustainability:

Unilever's divisions have harnessed digital innovation to advance sustainability in the consumer goods industry. Their digital transformation has modernized supply chains and manufacturing, integrating energy efficiency, waste reduction, and renewable energy practices. This strategy reduces environmental impact and enhances efficiency, illustrating how digital progress and environmental stewardship can yield both green and economic benefits.

IKEA has seamlessly incorporated sustainability into its digital strategy, demonstrating how technology can bolster eco-friendly practices. The IKEA Place app reduces carbon emissions by minimizing product returns through virtual previews. Moreover, the 'Buy Back' program facilitates furniture recycling, promoting a circular economy. These initiatives underscore IKEA's commitment to combining digital innovation with sustainability, setting an example for global retailers on how environmental and social governance can align with profitability.

Where do we go from here?

The collaboration between Proof and Human Kind represents a holistic approach to sustainability. Proof’s digital tools provide the quantitative backbone, offering precise data and analysis, while Human Kind contributes strategic consultancy, applying this data in innovative ways to enhance business practices.

This powerful synergy allows for innovation and transformation driven by sustainability data. The unique nature of the Proof platform ensures that Human Kind can respect the individuality of every business and the market in which it operates, offering tailored digital solutions that align with individual sustainability goals and existing practices.

The partnership between Proof and Human Kind is more than just merging technology and digital consultancy. It represents a forward-thinking approach to business, where sustainability integrates into every aspect of its operations.

About Proof: Proof provides access to the world’s largest consolidated set of reliable, material and high-quality ESG & impact data for private markets. Proof's driving vision is to serve as the largest force multiplier for creating positive, meaningful change through business. 

About Human Kind: Human Kind is a digital and sustainability consultancy that uses data, design, and technology to drive innovation and transformation programs that deliver both sustainable and commercial outcomes.

According to a recent report from BCG, a staggering 48% of board of directors members do not regularly incorporate sustainability competencies into their board selection.

According to the same BCG survey, only 29% of board of directors possess the knowledge to challenge and monitor sustainability action.

To bridge the gap between business-as-usual and sustainable value creation, company leadership can turn to digital innovation and transformation programs. These programs embed sustainability within strategic and operational workstreams, aligning it with objectives and KPIs.

Proof has partnered with Human Kind, a digital and sustainability consultancy, to support investors and enterprises in executing successful digital and sustainable transformations.

Here are our top 5 tips to get started with embedding sustainability into your business model:

Strategy 1: Build the Business Case

From responding to new regulations such as SFDR and CSRD in the European Union to enhancing efficiency and expanding to new markets, data-driven sustainability can propel your business objectives forward.

To convince your company leadership of the importance of investing in sustainability, begin by examining your business goals for the next 1-5 years. With these goals in mind, identify how sustainability will meaningfully contribute, for example:

• Manage Risk: Anticipate ESG-related changes and comply with existing and emerging regulations.
• Raise Capital: Attract new investment capital through financial outperformance and meet existing investor expectations.
• Boost Sales: Attract sustainability conscious customers and build new revenue streams with sustainable products and services.
• Enhance Brand and Reputation: Cultivate trust on a large scale through genuine data reporting and attract and retain top talent.
• Streamline Operations and Improve Performance: Reduce manual reporting burden and identify opportunities to improve sustainability performance.

For a comprehensive guide to building the business case for sustainability, refer to this guide "Unlocking Sustainable Value" in the Proof Sustainability Community. Not a member of the Proof Sustainability Community of investors and enterprises yet? Create a free account here.

Adopting a digital-first approach ensures that your sustainability strategy will scale as your company grows, taking advantage of technology to minimize manual processes and enhance efficiency.

Strategy 2: Conduct Robust Strategic Planning

Often overlooked, strategic planning is a critical step to ensure that digital transformation produces sustainable outcomes.

To embark on a successful digital transformation journey, it's crucial to conduct a comprehensive assessment of current operations, pinpointing areas ripe for improvement through digital solutions while aligning these efforts with your sustainability objectives. Rather that implementing sustainability as a standalone initiative, integrate sustainability into your overarching business strategy.

To encourage cross-team buy-in, be sure to engage stakeholders at every stage, leveraging their insights to prioritize initiatives and anticipate challenges. Continuously monitor progress through established KPIs, remaining agile to adapt strategies based on performance data and evolving sustainability criteria.

Strategy 3: Incorporate Design Thinking to Improve Success

Design thinking is a structured approach to problem-solving that prioritizes human needs and involves understanding your customers' and stakeholders' challenges. This human-centered approach encourages creative thinking, collaboration, and rapid learning, ultimately leading to solutions with a higher likelihood of success.

1. Engage with Stakeholders: Utilize design thinking to grasp the needs and perspectives of all stakeholders impacted by your digital and sustainability initiatives. Conduct interviews, surveys, and workshops to gather insights into their experiences and expectations.

2. Define Challenges and Opportunities: Use insights gathered to define the key challenges and opportunities in achieving sustainable outcomes through digital transformation. Ensure that feedback is clear and focused to effectively guide the ideation process.

3. Create Innovative Solutions: Foster creative thinking to generate a wide range of ideas for digital solutions that can positively impact your business. Facilitate sessions and workshops to explore different avenues for integrating sustainability into digital initiatives.

4. Prototype and Test Solutions: Develop prototypes of digital solutions aimed at sustainability and test them in real-world scenarios. Gather feedback on these prototypes to understand their efficacy and impact on sustainability goals.

5. Implement and Iterate: Implement the most promising solutions, continuously monitoring their impact. Based on ongoing feedback and data, be prepared to iterate and refine these solutions.

Where to Go from Here

Successfully integrating sustainability into business strategies requires strategic planning and ongoing management. Start by aligning your sustainability strategy to your organization's business goals, and use a digital-first approach to ensure scalability and efficiency gains. Conduct strategic planning to integrate sustainability into digital transformation initiatives, and incorporate design thinking to address complex challenges through stakeholder engagement and iteration based on feedback.

In the next article in the series, we will feature two more lessons on successfully implementing a digital transformation strategy, including best practices for measuring and managing performance and practical case studies to demonstrate how digital-first sustainability can transform your company's products and services.

About Proof: Proof provides access to the world’s largest consolidated set of reliable, material and high-quality ESG & impact data for private markets. Proof's driving vision is to serve as the largest force multiplier for creating positive, meaningful change through business. 

About Human Kind: Human Kind is a digital and sustainability consultancy that uses data, design, and technology to drive innovation and transformation programmes that deliver both sustainable and commercial outcomes.

2023 marked a significant milestone in the world of private market ESG reporting with the introduction of the Sustainable Finance Disclosure Regulation (SFDR). This regulation is the first of its kind, mandating private market investors marketing their products as sustainable to publicly disclose their ESG performance. 

As a refresher, what is SFDR?

SFDR is a framework created by the EU to foster openness and transparency in sustainable finance transactions. Essentially, Financial Market Participants (FMPs) are required to share the environmental and social impact of their transactions with stakeholders.

The primary goal of SFDR is to assist investors in making informed decisions and understanding how sustainability risks may affect their investments. The disclosure requirements aim to prevent 'greenwashing'—the act of making false claims about sustainable impact—ultimately facilitating the identification of authentic sustainable efforts and distinguishing them from greenwashing attempts.

SFDR is designed to build trust and confidence in sustainable finance, promoting a responsible and resilient financial sector committed to positive environmental and social outcomes.

What happened in 2023?

In its inaugural year, the SFDR brought sweeping changes to the private market investing ecosystem, prompting investors and executives to integrate these changes into their existing data management workflows. Here are the key takeaways:

Dynamic Regulatory Changes:

• The regulatory landscape for SFDR is evolving rapidly, requiring participants to stay abreast of the latest developments as they prepare for the 2024 reporting deadlines. The initial lack of clarity in regulation requirements led to a mid-reporting cycle shift in workflows. Staying updated on changes is crucial to ensuring final statements accurately reflect the evolving standards.

Challenges in Data Collection:

• Data collection for SFDR is a time-consuming process, demanding additional resources to meet key deadlines. Participants faced difficulties in communicating with their investments about SFDR data requirements. Executives encountered challenges in finding and aggregating PAI (Principal Adverse Impact) data for their investors. The consensus among participants is the need for more time and resources to manage the new data management workflows effectively.

Framework Diversification Challenges:

• SFDR PAI metric definitions and calculations differ from other existing frameworks, causing participants to scramble for tools to manage sustainability data across multiple standards. Frameworks like CSRD, EU Taxonomy, IRIS+, and SASB have unique sets of KPIs with different definitions and calculations. The lack of consolidation has participants grappling with sustainability data management at scale, emphasizing the imminent need for framework consolidation.

Uncertain Market Standards:

• The market demand for SFDR-compliant firms remains uncertain, as it is unclear how many FMPs achieved SFDR Article 6, 8, or 9 compliance in 2023. This uncertainty leaves participants unsure of how many peers will devote resources to achieving compliance, highlighting the need for greater clarity in market standards.

Looking Ahead to 2024

The EU just released its latest update to the Sustainable Finance Disclosure Regulation (SFDR) on December 4, 2023. It includes a number of new mandatory PAI metrics, changes to existing PAI metrics, and new disclosure templates and guidance.

Not to fear — Proof has you covered. We have already updated our SFDR metrics and assessments for the 2023 performance period so you’re ready to hit the ground running in the new year. Want to check out the updates? The new regulatory guidance is here.

In subsequent articles, we will delve further into the changes for the 2024 calendar year to ensure relevant stakeholders are well-prepared for upcoming deadlines. The journey with SFDR is ongoing, and market participants are navigating uncharted territory, adapting and refining strategies as they go.

2023 has marked a transformative chapter in the world of ESG and Impact data. As impact technology pioneers, we at Proof are propelling change to meet evolving industry needs.

At Proof, we're not just observers; we're architects of change. Stay ahead of the curve with our future-proof ESG and Impact roadmap for 2024:

1. Metric Selection

• What's Out: Highly customized metrics with bespoke reporting requirements
• What's In: Harmonized frameworks and industry metric sets

The Global Impact Investing Network (GIIN) IRIS+ remains the leading standard catalog of impact metrics by sector, from education to financial inclusion to agriculture. PitchBook's latest impact investing update underscores the importance of the IRIS+ metric sets in standardizing impact data. Proof is proud to partner with the GIIN to streamline impact measurement, reporting, and analysis around the IRIS+ metric sets.

The ISSB, the new gold standard released in June 2023, is set to seamlessly integrate with TCFD, marking a major consolidation in global ESG disclosure standards.

2. Integrated Reporting

• What's Out: Separate ESG/Impact and financial reporting
• What's In: Integrated ESG, Impact, and financial reporting and strategy development

From enhanced risk adjusted returns to higher valuations, ESG and Impact lead to improved financial outcomes. Nawar Alsaadi - a leading voice on sustainable finance - demonstrates, for example, the improved financial performance associated with decarbonization.

At Proof, we're reshaping the landscape with an integrated reporting approach focusing on finance, people, planet, customer, innovation, and governance—the core pillars required for the triple bottom line (people+planet+profit).

3. Performance Comparison

• What's Out: Measurement in a vacuum, with limited context or visibility
• What's In: Precision benchmarks by geography, company size, and industry

Proof is democratizing impactful data insights with open-access benchmarking in private markets. As an increasing volume of global companies report on the same harmonized metric sets, we'll unlock deeper performance insights based on location, size, and industry.

4. Assessing Materiality

• What's Out: Traditional ESG ratings, typically unregulated and focused on single financial materiality
• What's In: Regulatory mandates for ESG, with a focus on double materiality

The CSRD is here, requiring double materiality assessments to account for business and stakeholder impact. Stakeholder engagement is a critical tool to build trust and ensure that a company's sustainability commitments address stakeholder concerns. Learn more about how to conduct a double materiality assessment with Proof.

5. Data Collection

• What's Out: Manual spreadsheet data collection
• What's In: Automated data collection, validation, and reporting

Gone are the days of critical sustainability data living in siloed data collection spreadsheets. Welcome to the age of automated data management, opening the gates for real-time impact data intelligence and efficient, meaningful performance improvement. Proof's Impact Copilot, an AI-driven Chief Sustainability Officer, empowers enterprises with personalized insights through seamless ESG and Impact data integrations.

6. Reporting Frequency

• What's Out: Annual or ad hoc reporting
• What's In: Tracking impact performance on a continuous basis through ongoing management

Sustainability isn't a "check the box" exercise to be considered once a year. It's a critical dimension of business excellence, requiring continuous monitoring. Proof is setting the standard for real-time impact reporting, ensuring your progress is always in focus.

7. Target Setting

• What's Out: Overly ambitious, primarily qualitative disclosures and statements
• What's In: Realistic, attainable targets paired with actionable improvement plans

Market leaders are already shifting their approach to target setting, including Unilever's notable move away from "aspirational" climate commitments to realistic sustainability targets embedded in managers' performance evaluations. Exercise SMART goal-setting by determining your performance baseline, defining a realistic numerical target, developing action plans, and tracking progress over time.

Explore Proof's anti-greenwashing resources for a guided journey towards authentic impact.

8. Performance Improvement

• What's Out: Siloed learnings and limited progress to goals
• What's In: Community and group learning to accelerate progress on goals

Inspired by new regulations and united by the urgency of climate and social challenges, leaders worldwide are banding together for change. Join the Proof Sustainability Community, where innovation meets collaboration to accelerate sustainable progress.

As we venture into 2024, the future is bright, sustainable, and shaped by collective action. Join Proof on this transformative journey towards a world where technology and sustainability converge seamlessly.

How can data turn the tables on business impact? In the realm of sustainability, it is a game-changer.

In the first article of this 3-part series on Vinnova's impact measurement journey, we laid the groundwork for the challenges funders face when translating impact measurement into actionable results. In the second article, we highlighted the successes of Vinnova-funded startups, Water in Sight and Schoons Maleri, who are pioneering actionable impact intelligence.

Now, let's delve into four key lessons to elevate your organization's sustainability data insights to drive meaningful change.

Lesson #4 - Leverage the Power of Community

Building a sustainable future requires more than just individual efforts; it demands collective action. For early stage startups with limited in-house resources, learning communities are essential to quickly gain actionable knowledge from industry peers.

Vinnova’s Innovative Startups cohorts are members and active contributors to the Proof Sustainability Community. The community brings together investors and enterprises to exchange best practices regarding data collection, metric selection, performance improvement, and leveraging impact data for capital raise. Through the community, Vinnova and the startups it funds engage with other Proof users to attend networking sessions and expert office hours, discuss topical articles, and review accessible training courses on key sustainability topics — all with the goal of continuously improving their ESG+Impact performance.

Lesson #5 - Proactively Navigate Regulatory Compliance

In an ever-evolving regulatory landscape, staying ahead of the curve is essential. Vinnova recognizes the significance of keeping abreast of regulatory requirements, especially in the European Union, where reporting on metrics is increasingly being regulated. To support continuous compliance with frameworks like SFDR (Sustainable Finance Disclosure Regulation) and CSRD (Corporate Sustainability Reporting Directive), having a trusted third party is invaluable. While Vinnova’s startups are not yet required to comply with emerging regulations, many of the companies have elected to align their metrics to SFDR reporting requirements to get ahead of regulatory requirements and to signal their ESG commitment to investors.

Lesson #6 - Embrace Innovation and Growth

Perhaps the most important lesson for early stage startups as they begin their sustainability journey is to maintain an attitude of innovation and continuous improvement.

As startups evolve and grow, so do their ESG+Impact measurement needs. As an agency focused on cutting-edge innovation, Vinnova understands the importance of supporting startups to assess and enhance measurement practices continually.

Vinnova’s Innovative Startups cohorts are embracing innovation through:

• Leadership Commitment and Vision: Start-up leaders play a pivotal role in inspiring their teams to embrace sustainability and setting sustainability goals that align with the organization’s mission.
• Shared Accountability: Successful start-up teams embrace shared accountability and embed sustainability across all business functions - from Finance and Sales to Marketing and HR.
• Regular Reviews: Vinnova’s Innovative Startups cohorts regularly review their metrics and performance, to identify opportunities for improvement. We recommend an annual review to add new metrics based on investor requirements and evolving business priorities. For ongoing performance management, we recommend a quarterly or semi-annual review to investigate metric performance, identify where the company is outperforming or lagging, and establish action plans for improvement.

Lesson #7 - Tie Financing to Impact Outcomes

Ultimately, the greatest opportunity for funders to support startups on their sustainability journey is to provide financial incentives for sustainability performance milestones. At Vinnova, startups are eligible for additional funding if they demonstrate progress in achieving their impact goals through their first funding opportunity with Vinnova.

Proof recommends a carrot-and-stick based approach for investors to tie finance to impact, based on the investor’s level of maturity:

1. Stick (Beginner) - Companies avoid a negative consequence from the investor by simply completing a sustainability survey.
2. Carrot (Beginner) - Companies get a reward for submitting quantitative data on high priority metrics.
3. Carrot (Intermediate) - Companies receive another reward by demonstrating improvement in their performance over time, either by showing quantitative improvement compared to targets or by implementing new policies.
4. Carrot (Advanced) - Companies receive bonus incentives if they outperform the benchmark.

Ideas for Financial and Impact incentives include:

• A one-time payment or gift. This can be done for the first X% of data submissions, or drawn randomly for X number of companies
• Extra support with introducing investors for follow-on capital rounds
• Additional networking support, by introducing possible clients or partners
• Access to favorable capital terms based on reporting on impact
• Impact reporting support in the form on a digital performance dashboard, through a data intelligence software like Proof
• The London Institute of Banking and Finance provides further ideas for investing with carrots and sticks

The Future of Data-Based Start-Up Funding

Vinnova is not just a funder - they are a partner on a start-up’s journey towards creating a sustainable and impactful future. Vinnova’s collaboration with Proof has opened doors to new possibilities for startups to improve their sustainability performance in collaboration with a broader community of funders and founders. Together, we are committed to building a world where purpose and profit go hand in hand, and where the startup ecosystem not only thrives but also leaves a positive imprint on society and the environment.

About Vinnova: Vinnova helps to build Sweden’s innovation capacity, contributing to sustainable growth. Vinnova makes it possible for organizations to address challenges together by enabling innovation that makes a difference. Interested to see if Vinnova’s funding might be a good fit for you? Learn more about Vinnova’s funding opportunities here.

About Proof: Proof provides access to the world’s largest consolidated set of reliable, material and high-quality ESG & impact data for private markets. Proof's driving vision is to serve as the largest force multiplier for creating positive, meaningful change through business. Interested in learning more? Sign up for a platform demo here.

At Proof, we're redefining ESG+Impact measurement, focusing on actionable business intelligence as the cornerstone.

In the first article of this 3-part series on Vinnova's impact measurement journey, we laid the groundwork for the challenges funders encounter when translating impact measurement into tangible action and performance improvement.

Discover seven pivotal lessons to extract transformative insights from sustainability data.

Lesson #1 - Metrics Matter… But They’re Not the Be-All End-All

In the realm of ESG+Impact measurement, data is the foundation upon which informed decisions are built. Vinnova recognizes the importance of not just gathering data but selecting metrics that truly matter. Proof understands that different companies are at varying stages of their journey, which is why we offer metric sets that are suited to companies’ unique needs based on their stage.

For the early-stage start-ups funded by Vinnova, we start with policy and practice metrics and expand to quantitative metrics gradually over time. Proof’s metrics fall into three categories:

• Operational Metrics - Policies and Practices: These metrics are focused on ensuring that the company has the governance structures in place required to scale, and they are the most simple to report on since they typically require a yes/no response (e.g. Presence of a Data Privacy Policy, Talent Recruitment and Employee Retention Policy, Full-Time Sustainability Leadership Position).
• Operational Metrics - Quantitative: Focusing on social and environmental impact, these quantitative metrics are broadly applicable to companies regardless of their industry or sector. The Proof Sustainability Index metric set - 15 metrics in total - aligns to the leading frameworks and the metrics most commonly required by investors and regulators (e.g. Percent Female Employees, Percent Renewable Energy).
• Product and Service Metrics - Quantitative: Tailored to a company’s industry or sector (e.g. Energy Transition, Regenerative Agriculture, Financial Inclusion), these metrics are designed to capture the impact (positive or negative) associated with the delivery of the organization’s products and services.

Lesson #2 - Rapidly Translate Metric Results to Action

While data and results are pivotal, it is not enough to merely collect them. It’s about what you do with the metric results that counts. Vinnova start-up Schoons Maleri - a commercial painting company revolutionizing the sustainability of the painting industry - applies the insights from its metric results to meaningfully improve its sustainability performance.

• Benchmarking: Start by comparing the metric performance to industry benchmarks.
  • Risk - Schoons Maleri’s performance for Percent Female Employees is lower than the 2X Challenge threshold (30%). As a result, the company - led by founder Victor Schoon - is implementing changes to its hiring process in order to attract greater gender diversity in its talent pipeline.
• Time Series Data: Review your own company’s performance on the same metric over time.
  • Insight - Schoons Maleri experiences seasonality in its energy consumption. For the same month (i.e. January 2021 and January 2022), the company's energy consumption is declining year-over-year. While the company already uses 100% renewable energy, the company is implementing energy reduction initiatives to further decrease its environmental footprint.
• Target Setting + Action Planning: Set realistic, time-bound targets for performance improvement. Determine actions to take to achieve the targets.
  • Opportunity - With full knowledge of its energy consumption in hand, Schoons Maleri is aiming for a 20 percent reduction in its energy consumption year-over-year. To achieve this goal, Schoons Maleri is evaluating opportunities to reduce its energy consumption across its value chain, for example by installing more energy efficient appliances.

Proof’s anti-greenwashing template is designed to contextualize your data and transparently showcase your ESG and impact maturity. Download the Anti-Greenwashing Template to translate your sustainability data results into action.

Lesson #3 - Engage Stakeholders for a Holistic Perspective

Stakeholder engagement is essential to understand the outcomes and impact that result from a company’s product or service. Stakeholder surveys - one tool for stakeholder engagement - are especially powerful for gathering insights and uncovering how beneficiaries’ work or life are affected by the service or product.

Supported by the Proof platform, Vinnova start-up Water in Sight conducts low-touch stakeholder surveys to understand the impact of its data collection platform for water and climate resiliency on its data collectors and government clients. The surveys are distributed via SMS, WhatsApp, and email in the respondents’ local language, to ensure the experience is easy for the respondents.

Based on the inaugural data collector survey results, Water in Sight learned that the data collectors - who often work in flood conditions in remote regions of Africa - require additional protective gear and monitoring equipment to be more efficient and effective in their work. Meanwhile, the results from government clients indicate that Water in Sight’s weather data is resulting in “great improvement in the measurements of water and weather observations” and “will enhance timely processing of necessary products for public use and decision making by authorities.” According to founder Louise Croneborg-Jones, Water in Sight plans to apply these insights to enhance its product delivery in the future and thereby contribute to closing the 70% climate data gap in Africa and the SDGs on water and climate action.

Where to Go from Here

The business-as-usual approach to investor data reporting does not reliably yield impact outcomes or financial returns. By aligning to leading metric sets, benchmarking performance, quickly translating results into actionable insights, and maintaining a feedback loop with core stakeholders, companies and investors can ensure that impact measurement meaningfully moves the needle on addressing pressing environmental and social challenges.

In the next article in the series, we will feature four more lessons on channeling sustainability results into meaningful action - from building community to tying sustainability performance to financial outcomes.

About Vinnova: Vinnova helps to build Sweden’s innovation capacity, contributing to sustainable growth. Vinnova makes it possible for organizations to address challenges together by enabling innovation that makes a difference. Interested to see if Vinnova’s funding might be a good fit for you? Learn more about Vinnova’s funding opportunities here.

About Proof: Proof provides access to the world’s largest consolidated set of reliable, material and high-quality ESG & impact data for private markets. Proof's driving vision is to serve as the largest force multiplier for creating positive, meaningful change through business. Interested in learning more? Sign up for a platform demo here.

In a rapidly evolving business landscape, where societal and environmental concerns are at the forefront, it's become more apparent than ever that companies need to do more than just make profits. They need to make a positive impact on the world. As a trailblazing funder of early-stage startups, Vinnova, Sweden’s Innovation Agency, supports companies that are contributing to solving major global societal challenges through their products and services, from water security to renewable energy.

Beyond providing start-ups with critical funding to propel their growth, Vinnova is committed to building a supportive start-up ecosystem. To support the start-ups it funds, Vinnova provides numerous technical assistance opportunities, including access to comprehensive ESG+Impact data intelligence through Proof. This support helps ensure that the companies and projects Vinnova funds are financially viable in addition to contributing to measurable positive sustainability impacts.

Since 2021, Vinnova has partnered with Proof to provide its Innovative Startups cohorts with access to sustainability data intelligence through Proof. After two years and two cohorts, we’re excited to share our insights into how to support the sustainability start-up ecosystem through data intelligence.

The Problem

In the business-as-usual approach to impact measurement, investors and agencies fall victim to two major pitfalls that stifle the ability to translate metric results into impact outcomes:

Pitfall #1 - Getting caught up in the metric selection process

• Investors tend to over-analyze whether the chosen metrics are the “right” ones, rather than getting started and rapidly iterating. Many investors focus on setting metrics that are unique to each portfolio company, rather than defining a portfolio-wide starting point to build from
• When it comes to data availability, investors often assume that their companies will not have data on the chosen metrics. For examples, with metrics like Greenhouse Gas (GHG) Emissions, companies may not already report on their Scope 1, 2 and 3 emissions; however, when prompted with more basic questions like electricity purchased or airline miles traveled, companies can indeed report on the dimensions required to estimate GHG emissions
• In an effort to be comprehensive, investors tend to choose too many metrics (20+), making the process overwhelming for companies. When impact measurement is overly burdensome, it becomes taxing for the company to report and drains critical resources

Pitfall #2 - Focusing on data collection and metric performance, rather than meaningful improvement

• Investors often send a data collection spreadsheet requesting that companies manually report on their performance, rather than a digital approach that offers reciprocal benefits for companies
• Investors tend to focus on whether a metric performance is “good” or “bad,” rather than trying to understand what the result means for the company based on its unique history and goals for the future
• Requests for sustainability data reporting often lack the context required for companies to understand how the data will empower their business and impact decisions

The Solution

Avoiding these common pitfalls requires getting back to the first principles of impact measurement. For an investor or a company, the most basic purpose of ESG+Impact measurement is to: 

1. Evaluate business risks to understand the financial, regulatory, legal, climate, and geopolitical factors that may impact the organization’s future success

2. Gain meaningful insights regarding opportunities to enhance the organization’s product or service delivery and mitigate its impact on the environment and society

3. Act on those insights to achieve the company’s business and impact goals, including increasing sales, raising investment capital, and expanding to new markets

Through the lens of risks, insights, and opportunities, Proof flips ESG+Impact measurement on its head - placing actionable business insights at the center.

In the next two articles in this series, we will share seven proven lessons from Vinnova and Proof’s partnership to unlock transformative insights from sustainability data:

Part 2

Lesson #1 - Metrics Matter… But They’re Not the Be-All End-All

Lesson #2 - Rapidly Translate Metric Results to Action

Lesson #3 - Engage Stakeholders for a Holistic Perspective

Part 3

Lesson #4 - Leverage the Power of Community

Lesson #5 - Proactively Navigate Regulatory Compliance

Lesson #6 - Embrace Innovation and Growth

Lesson #7 - Tie Financing to Impact Outcomes

About Vinnova: Vinnova helps to build Sweden’s innovation capacity, contributing to sustainable growth. Vinnova makes it possible for organizations to address challenges together by enabling innovation that makes a difference. Interested to see if Vinnova’s funding might be a good fit for you? Learn more about Vinnova’s funding opportunities here.

About Proof: Proof provides access to the world’s largest consolidated set of reliable, material and high-quality ESG & impact data for private markets. Proof's driving vision is to serve as the largest force multiplier for creating positive, meaningful change through business. Interested in learning more? Sign up for a platform demo here!