Characterisation of Impact Funds and Their Potential in the Context of the 2030 Agenda

Juan C. Santamarta, Mª Dolores Storch de Gracia, Ángeles Huerta Carrascosa Mª, Margarita Martínez-Núñez, Celia de las Heras García and Noelia Cruz-Pérez
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Juan C. Santamarta: Departamento de Ingeniería Agraria, Náutica, Civil y Marítima, Universidad de La Laguna (ULL), 38200 Tenerife, Spain
Mª Dolores Storch de Gracia: Grupo de Investigación Organizaciones Sostenibles (GIOS), Universidad Politécnica de Madrid, 28006 Madrid, Spain
Ángeles Huerta Carrascosa Mª: Grupo de Investigación Organizaciones Sostenibles (GIOS), Universidad Politécnica de Madrid, 28006 Madrid, Spain
Margarita Martínez-Núñez: Department of Organizational Engineering, Business Administration and Statistics, Escuela Técnica Superior de Ingenieros Industriales, Universidad Politécnica de Madrid, 28006 Madrid, Spain
Celia de las Heras García: Department of Organizational Engineering, Business Administration and Statistics, Escuela Técnica Superior de Ingenieros Industriales, Universidad Politécnica de Madrid, 28006 Madrid, Spain
Noelia Cruz-Pérez: Departamento de Ingeniería Agraria, Náutica, Civil y Marítima, Universidad de La Laguna (ULL), 38200 Tenerife, Spain

Sustainability, 2021, vol. 13, issue 11, 1-16

Abstract: The European Union has incorporated impact investment through two action plans: the Social Entrepreneurship Initiative and the Investment Plan for Europe. These financing tools seek to fund economic growth and promote job creation. Among the different measures carried out, the regulatory framework for impact investment funds stands out, under which the denomination, European Social Entrepreneurship Fund, is established to designate investment funds focused on social enterprises with the objective of generating a positive impact. It is possible to affirm that the creation of a solid impact intermediation infrastructure, by connecting both sides of supply and demand, is a critical aspect for the development and effective functioning of the impact market. Special importance is given to impact funds capable of attracting private capital. In order to categorise the different impact funds according to the most relevant aspects, a proposal form for the characterisation of impact funds has been drawn up and has been applied to a particular case. The presentation of Creas will allow for contextualising the practices that impact funds carry out and facilitate the general understanding of the article through a specific example that is considered successful in Spain.

Keywords: sustainable development; financing; impact fund; 2030 Agenda (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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