IRIS is an initiative of the Global Impact Investing Network (GIIN), a nonprofit organization dedicated to increasing the scale and effectiveness of impact investing. Impact investments are investments made into companies, organizations, and funds with the intention to generate social and environmental impact alongside a financial return.
The GIIN recognizes impact measurement as a core characteristic of impact investing and offers IRIS as a free public good to support transparency, credibility, and accountability in impact measurement practices across the impact investment industry.
IRIS has been an initiative of the GIIN since 2009. Prior to that, IRIS was jointly managed by The Rockefeller Foundation, Acumen, and B Lab, which began development of IRIS in early 2008 with technical support from Hitachi, Deloitte, and PricewaterhouseCoopers.
Today, IRIS benefits from the support of the IRIS Advisory Body that contributes to the continuous development of the IRIS catalog. Metrics are selected or developed for the IRIS catalog through a formal and open process that includes review and inclusion of existing 3rd party standards, input from expert working groups and advisors, and feedback from users and the public. Users wishing to provide feedback can do so by clicking the “Feedback” link in the footer of each page of the IRIS website, or reaching out directly to the IRIS initiative by e-mailing email@example.com.
IRIS outreach and adoption efforts are bolstered by a network of adoption partners. These partners encourage and support IRIS use among their constituents and also support the GIIN’s aggregation and analysis of IRIS compatible performance data from businesses and organizations seeking and receiving impact investment.