{"id":7132,"date":"2024-04-03T09:04:32","date_gmt":"2024-04-03T07:04:32","guid":{"rendered":"https:\/\/bundesinitiative-impact-investing.de\/?page_id=7132"},"modified":"2024-04-03T09:04:33","modified_gmt":"2024-04-03T07:04:33","slug":"publications","status":"publish","type":"page","link":"https:\/\/bundesinitiative-impact-investing.org\/en\/publications\/","title":{"rendered":"Publi\u00adca\u00adti\u00adons"},"content":{"rendered":"<section class=\"hero-section relative w-full col-span-full container sibling:-mt-16 md:sibling:-mt-24\">\n\n\t<noscript><img decoding=\"async\" src=\"https:\/\/bundesinitiative-impact-investing.org\/wp-content\/themes\/biii\/build\/img\/arches-white.svg\" alt=\"BIII Decoration\" aria-hidden=\"true\" class=\"arches arches--hero hidden first-of-type:block absolute -top-8 w-full md:w-[40vw] -right-4 md:right-0 -scale-y-100 -z-10\"><\/noscript><img decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/yH5BAEAAAAALAAAAAABAAEAAAIBRAA7\" alt=\"BIII Decoration\" aria-hidden=\"true\" class=\"arches arches--hero hidden first-of-type:block absolute -top-8 w-full md:w-[40vw] -right-4 md:right-0 -scale-y-100 -z-10 lazyload\" data-src=\"https:\/\/bundesinitiative-impact-investing.org\/wp-content\/themes\/biii\/build\/img\/arches-white.svg\" loading=\"lazy\">\n\n\t<div class=\"hero relative text-lg md:text-xl Wysiwyg Wysiwyg-indent z-10\">\n\n<p>Our publi\u00adca\u00adti\u00adons are desi\u00adgned to <mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-biii-yellow-color\">cla\u00adri\u00adfy, pro\u00advi\u00adde ori\u00aden\u00adta\u00adti\u00adon and encou\u00adra\u00adge dis\u00adcus\u00adsion<\/mark>. They pro\u00admo\u00adte fur\u00adther mar\u00adket growth and pre\u00advent impact washing.&nbsp;<\/p>\n\n<\/div>\n\n<\/section>\n\n<section class=\"studies-section biii-grid container sibling:-mt-16 md:sibling:-mt-24\">\n\n\t\n\t\n\t\t<div class=\"studies__list biii-grid gap-y-16 md:gap-y-24\">\n\n\t\t\t\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t<article class=\"study biii-grid items-stretch\">\n\n\t\t\t\t\t\t<div class=\"study__thumb w-3\/4 md:w-full md:col-span-2\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t<div class=\"study__wrapper w-full md:col-start-5 md:col-end-13 flex flex-col justify-between gap-y-4\">\n\n\t\t\t\t\t\t\t<div class=\"study__inner flex flex-col gap-y-4\">\n\t\t\t\t\t\t\t\t<div class=\"study__header block\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<h3 class=\"study__title text-lg\">\n\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/bundesinitiative-impact-investing.org\/en\/publikationen\/fachkommentar-zum-standortfoerdergesetz-stofoeg\/\">Fach\u00adkom\u00admen\u00adtar zum Stand\u00adort\u00adf\u00f6r\u00adder\u00adge\u00adsetz (Sto\u00adF\u00f6G)<\/a>\n\t\t\t\t\t\t\t\t\t<\/h3>\n\t\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t\t<div class=\"study__content w-full text-base Wysiwyg\">\n\t\t\t\t\t\t\t\t\t\n<p>Der Bun\u00addes\u00adver\u00adband Impact Inves\u00adt\u00ading (BVII) hat zum Ent\u00adwurf des Stand\u00adort\u00adf\u00f6r\u00adder\u00adge\u00adset\u00adzes (Sto\u00adF\u00f6G) einen Fach\u00adkom\u00admen\u00adtar ein\u00adge\u00adreicht. Der Ver\u00adband begr\u00fc\u00dft die geplan\u00adten Ma\u00df\u00adnah\u00admen zur St\u00e4r\u00adkung des Kapi\u00adtal\u00admarkt\u00adstand\u00adorts, sieht jedoch zen\u00adtra\u00adle L\u00fccken bei der recht\u00adli\u00adchen Klar\u00adheit, steu\u00ader\u00adli\u00adchen F\u00f6r\u00adde\u00adrung und Trans\u00adpa\u00adrenz f\u00fcr wir\u00adkungs\u00adori\u00aden\u00adtier\u00adte Investitionen.<\/p>\n\n\n\n<p>Die Stel\u00adlung\u00adnah\u00adme zeigt auf, wie das Sto\u00adF\u00f6G gezielt wei\u00adter\u00adent\u00adwi\u00adckelt wer\u00adden kann, um pri\u00adva\u00adtes Kapi\u00adtal st\u00e4r\u00adker in die sozi\u00adal-\u00f6ko\u00ad\u00ad\u00adlo\u00ad\u00adgi\u00ad\u00adsche Trans\u00adfor\u00adma\u00adti\u00adon zu len\u00adken \u2013 etwa durch kla\u00adre Impact-Defi\u00ad\u00adni\u00ad\u00adtio\u00ad\u00adnen, einen steu\u00ader\u00adli\u00adchen Impact-Roll-Over sowie ein frei\u00adwil\u00adli\u00adges Impact-Tag\u00ad\u00adging im Rah\u00admen von&nbsp;ESAP.<\/p>\n\n\n\n<p><\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t<div class=\"study__meta flex flex-col gap-y-4\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2025\/12\/20251111_BVII_Fachkommentar_StoFoeG_2025.pdf\" target=\"_blank\" class=\"study__download biii-link-down w-full\" title=\"Download &quot;Fach\u00adkom\u00admen\u00adtar zum Stand\u00adort\u00adf\u00f6r\u00adder\u00adge\u00adsetz (Sto\u00adF\u00f6G)&quot;\">\n\t\t\t\t\t\t\t\t\t\tDownload&nbsp;<\/a>\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<\/article>\n\n\t\t\t\t\t\t\t\t\n\t\t\t\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t<article class=\"study biii-grid items-stretch\">\n\n\t\t\t\t\t\t<div class=\"study__thumb w-3\/4 md:w-full md:col-span-2\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/bundesinitiative-impact-investing.org\/en\/publikationen\/policy-paper-recognising-impact-investing-in-the-eu-sustainable-finance-framework\/\" class=\"pb-full relative w-full block overflow-hidden\">\n\t\t\t\t\t\t\t\t\t<noscript><img decoding=\"async\" src=\"https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2025\/07\/why-impact-invest-1200x1200.jpg\" alt=\"why impact invest\" class=\"absolute inset-0 h-full object-cover w-full\"><\/noscript><img data-src=\"https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2025\/07\/why-impact-invest-1200x1200.jpg\" alt=\"why impact invest\" data-srcset=\"https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2025\/07\/why-impact-invest-1200x1200.jpg 1200w, https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2025\/07\/why-impact-invest-640x640.jpg 640w, https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2025\/07\/why-impact-invest-1024x1024.jpg 1024w, https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2025\/07\/why-impact-invest-150x150.jpg 150w, https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2025\/07\/why-impact-invest-768x768.jpg 768w, https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2025\/07\/why-impact-invest.jpg 1512w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" class=\"absolute inset-0 h-full object-cover w-full lazyload\">\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t<div class=\"study__wrapper w-full md:col-start-5 md:col-end-13 flex flex-col justify-between gap-y-4\">\n\n\t\t\t\t\t\t\t<div class=\"study__inner flex flex-col gap-y-4\">\n\t\t\t\t\t\t\t\t<div class=\"study__header block\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<h3 class=\"study__title text-lg\">\n\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/bundesinitiative-impact-investing.org\/en\/publikationen\/policy-paper-recognising-impact-investing-in-the-eu-sustainable-finance-framework\/\">Poli\u00adcy Paper: Reco\u00adg\u00adnis\u00ading impact inves\u00adt\u00ading in the EU Sus\u00adtainable Finan\u00adce framework<\/a>\n\t\t\t\t\t\t\t\t\t<\/h3>\n\t\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t\t<div class=\"study__content w-full text-base Wysiwyg\">\n\t\t\t\t\t\t\t\t\t\n<p>With this publi\u00adca\u00adti\u00adon, BIII pres\u00adents tog\u00ade\u00adther with BAI a con\u00adcre\u00adte pro\u00adpo\u00adsal for how impact inves\u00adt\u00ading can be reco\u00adg\u00adnis\u00aded as a distinct invest\u00adment stra\u00adtegy within the EU Sus\u00adtainable Finan\u00adce frame\u00adwork. The paper advo\u00adca\u00adtes for a non-bin\u00ad\u00adding, prin\u00adci\u00ad\u00adp\u00adles-based gui\u00addance that sup\u00adports the inte\u00adgra\u00adti\u00adon of impact inves\u00adt\u00ading into exis\u00adting EU regulation.<\/p>\n\n\n\n<p>The paper out\u00adlines key prin\u00adci\u00adples and qua\u00adli\u00adfy\u00ading cri\u00adte\u00adria to estab\u00adlish a com\u00admon under\u00adstan\u00adding of impact inves\u00adt\u00ading in Euro\u00adpe. It pro\u00advi\u00addes a refe\u00adrence frame\u00adwork based on exis\u00adting mar\u00adket stan\u00addards to enable first steps into impact inves\u00adt\u00ading and fos\u00adter mar\u00adket development.<\/p>\n\n\n\n<p>In addi\u00adti\u00adon to gui\u00adding inves\u00adtors and asset mana\u00adgers, the paper sup\u00adports poli\u00adcy\u00adma\u00adkers in alig\u00adning EU efforts with glo\u00adbal deve\u00adlo\u00adp\u00adments \u2013 ther\u00adeby streng\u00adthening the EU\u2019s lea\u00adder\u00adship in sus\u00adtainable finance.<\/p>\n\n\n\n<p>The publi\u00adca\u00adti\u00adon also marks the launch of a broa\u00adder dia\u00adlo\u00adgue: BIII is actively see\u00adking sup\u00adport\u00aders and endor\u00adsers to joint\u00adly advo\u00adca\u00adte for grea\u00adter reco\u00adgni\u00adti\u00adon of impact in finance.<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t<div class=\"study__meta flex flex-col gap-y-4\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2025\/07\/Recognition_of_impact_investing_in_the_EU_Sustainable_Finance_framework.pdf\" target=\"_blank\" class=\"study__download biii-link-down w-full\" title=\"Download &quot;Poli\u00adcy Paper: Reco\u00adg\u00adnis\u00ading impact inves\u00adt\u00ading in the EU Sus\u00adtainable Finan\u00adce framework&quot;\">\n\t\t\t\t\t\t\t\t\t\tDownload&nbsp;<\/a>\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<\/article>\n\n\t\t\t\t\t\t\t\t\n\t\t\t\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t<article class=\"study biii-grid items-stretch\">\n\n\t\t\t\t\t\t<div class=\"study__thumb w-3\/4 md:w-full md:col-span-2\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/bundesinitiative-impact-investing.org\/en\/publikationen\/position-paper-05-impact-investing-in-infrastructure-turning-potential-into-practice-what-does-it-take-to-implement-impact-investing-in-infrastructure\/\" class=\"pb-full relative w-full block overflow-hidden\">\n\t\t\t\t\t\t\t\t\t<noscript><img decoding=\"async\" src=\"https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2025\/05\/biii_alternative-investments_2025_2-1200x1200.jpg\" alt=\"BAI alternative investments\" class=\"absolute inset-0 h-full object-cover w-full\"><\/noscript><img data-src=\"https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2025\/05\/biii_alternative-investments_2025_2-1200x1200.jpg\" alt=\"BAI alternative investments\" data-srcset=\"https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2025\/05\/biii_alternative-investments_2025_2-1200x1200.jpg 1200w, https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2025\/05\/biii_alternative-investments_2025_2-640x640.jpg 640w, https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2025\/05\/biii_alternative-investments_2025_2-1024x1024.jpg 1024w, https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2025\/05\/biii_alternative-investments_2025_2-150x150.jpg 150w, https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2025\/05\/biii_alternative-investments_2025_2-768x768.jpg 768w, https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2025\/05\/biii_alternative-investments_2025_2-1536x1536.jpg 1536w, https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2025\/05\/biii_alternative-investments_2025_2.jpg 1706w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" class=\"absolute inset-0 h-full object-cover w-full lazyload\">\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t<div class=\"study__wrapper w-full md:col-start-5 md:col-end-13 flex flex-col justify-between gap-y-4\">\n\n\t\t\t\t\t\t\t<div class=\"study__inner flex flex-col gap-y-4\">\n\t\t\t\t\t\t\t\t<div class=\"study__header block\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<h3 class=\"study__title text-lg\">\n\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/bundesinitiative-impact-investing.org\/en\/publikationen\/position-paper-05-impact-investing-in-infrastructure-turning-potential-into-practice-what-does-it-take-to-implement-impact-investing-in-infrastructure\/\">Posi\u00adti\u00adon Paper #05 Impact Inves\u00adt\u00ading in Infra\u00adstruc\u00adtu\u00adre Tur\u00adning Poten\u00adti\u00adal into Prac\u00adti\u00adce: What does it take to imple\u00adment Impact Inves\u00adt\u00ading in Infrastructure?<\/a>\n\t\t\t\t\t\t\t\t\t<\/h3>\n\t\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t\t<div class=\"study__content w-full text-base Wysiwyg\">\n\t\t\t\t\t\t\t\t\t\n<p>Buil\u00adding on the BAI\/BIII posi\u00adti\u00adon paper from Novem\u00adber 2024 titled <em>\u201cImpact Inves\u00adt\u00ading in Alter\u00adna\u00adti\u00adve Invest\u00adments \u2013 Why Pri\u00adva\u00adte Mar\u00adket Invest\u00adments Are Par\u00adti\u00adcu\u00adlar\u00adly Sui\u00adted for Impact-Gene\u00adra\u00ad\u00adting Invest\u00adments\u201d<\/em>, BAI and BIII now pre\u00adsent a new paper spe\u00adci\u00adfi\u00adcal\u00adly dedi\u00adca\u00adted to the asset class <strong>infra\u00adstruc\u00adtu\u00adre<\/strong>. The publi\u00adca\u00adti\u00adon high\u00adlights the spe\u00adci\u00adfic cha\u00adrac\u00adte\u00adristics and chal\u00adlenges of this asset class \u2013 ran\u00adging from regu\u00adla\u00adto\u00adry tre\u00adat\u00adment to impact manage\u00adment and mea\u00adsu\u00adre\u00adment (IMM).<\/p>\n\n\n\n<p>Bey\u00adond out\u00adlining gene\u00adral chal\u00adlenges, the paper dis\u00adcus\u00adses <strong>inten\u00adtio\u00adna\u00adli\u00adty<\/strong>, <strong>asset impact &amp; inves\u00adtor impact<\/strong>, as well as <strong>impact manage\u00adment &amp; mea\u00adsu\u00adre\u00adment<\/strong> \u2013 each illus\u00adtra\u00adted through <strong>con\u00adcre\u00adte case stu\u00addies<\/strong>.<\/p>\n\n\n\n<p>Through the\u00adse examp\u00adles cove\u00adring dif\u00adfe\u00adrent \u201ctypes\u201d of infra\u00adstruc\u00adtu\u00adre, the aut\u00adhors aim to make the topic more acces\u00adsi\u00adble to a broa\u00adder audi\u00adence while also offe\u00adring a <strong>prac\u00adti\u00adcal con\u00adver\u00adsa\u00adti\u00adon gui\u00adde<\/strong> to sup\u00adport dia\u00adlo\u00adgue bet\u00adween asset mana\u00adgers and their investors.<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t<div class=\"study__meta flex flex-col gap-y-4\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<p class=\"study__cat text-xs w-full flex flex-wrap gap-x-2 gap-y-1 mb-1\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"block px-2 py-1 bg-white border border-black rounded-full\">impact inves\u00adt\u00ading<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"block px-2 py-1 bg-white border border-black rounded-full\">inves\u00adtors<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"block px-2 py-1 bg-white border border-black rounded-full\">alter\u00adna\u00adti\u00adve investments<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"block px-2 py-1 bg-white border border-black rounded-full\">pri\u00adva\u00adte markets<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"block px-2 py-1 bg-white border border-black rounded-full\">infra\u00adstruc\u00adtu\u00adre<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/p>\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2025\/05\/BAI_BIII_Position_Paper_Impact_Investing_in_Infrastructure.pdf\" target=\"_blank\" class=\"study__download biii-link-down w-full\" title=\"Download &quot;Posi\u00adti\u00adon Paper #05 Impact Inves\u00adt\u00ading in Infra\u00adstruc\u00adtu\u00adre Tur\u00adning Poten\u00adti\u00adal into Prac\u00adti\u00adce: What does it take to imple\u00adment Impact Inves\u00adt\u00ading in Infrastructure?&quot;\">\n\t\t\t\t\t\t\t\t\t\tDownload&nbsp;<\/a>\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<\/article>\n\n\t\t\t\t\t\t\t\t\n\t\t\t\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t<article class=\"study biii-grid items-stretch\">\n\n\t\t\t\t\t\t<div class=\"study__thumb w-3\/4 md:w-full md:col-span-2\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/bundesinitiative-impact-investing.org\/en\/publikationen\/practical-guidance-01-impact-in-real-estate\/\" class=\"pb-full relative w-full block overflow-hidden\">\n\t\t\t\t\t\t\t\t\t<noscript><img decoding=\"async\" src=\"https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2025\/01\/Teaserbild-Praxishinweis-Immobilien-1200x1200.png\" alt class=\"absolute inset-0 h-full object-cover w-full\"><\/noscript><img data-src=\"https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2025\/01\/Teaserbild-Praxishinweis-Immobilien-1200x1200.png\" alt data-srcset=\"https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2025\/01\/Teaserbild-Praxishinweis-Immobilien-1200x1200.png 1200w, https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2025\/01\/Teaserbild-Praxishinweis-Immobilien-640x640.png 640w, https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2025\/01\/Teaserbild-Praxishinweis-Immobilien-1024x1024.png 1024w, https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2025\/01\/Teaserbild-Praxishinweis-Immobilien-150x150.png 150w, https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2025\/01\/Teaserbild-Praxishinweis-Immobilien-768x768.png 768w, https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2025\/01\/Teaserbild-Praxishinweis-Immobilien-1536x1536.png 1536w, https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2025\/01\/Teaserbild-Praxishinweis-Immobilien-2048x2048.png 2048w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" class=\"absolute inset-0 h-full object-cover w-full lazyload\">\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t<div class=\"study__wrapper w-full md:col-start-5 md:col-end-13 flex flex-col justify-between gap-y-4\">\n\n\t\t\t\t\t\t\t<div class=\"study__inner flex flex-col gap-y-4\">\n\t\t\t\t\t\t\t\t<div class=\"study__header block\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<h3 class=\"study__title text-lg\">\n\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/bundesinitiative-impact-investing.org\/en\/publikationen\/practical-guidance-01-impact-in-real-estate\/\">Prac\u00adti\u00adcal Gui\u00addance #01 Impact in Real Estate<\/a>\n\t\t\t\t\t\t\t\t\t<\/h3>\n\t\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t\t<div class=\"study__content w-full text-base Wysiwyg\">\n\t\t\t\t\t\t\t\t\t\n<p>Vie\u00adle Finanz\u00adak\u00adteu\u00adre, die in Impact Inves\u00adt\u00ading ein\u00adstei\u00adgen m\u00f6ch\u00adten, suchen nach einem kla\u00adren, pra\u00adxis\u00adori\u00aden\u00adtier\u00adten Ein\u00adstieg. Der <a href=\"https:\/\/bundesinitiative-impact-investing.org\/arbeitskreise\/immobilien\/\">AK Immo\u00adbi\u00adli\u00aden<\/a> hat es sich des\u00adhalb zur Auf\u00adga\u00adbe gemacht, kon\u00adkre\u00adte Anlei\u00adtun\u00adgen f\u00fcr die Umset\u00adzung von Wir\u00adkungs\u00adzie\u00adlen zu bie\u00adten. Die\u00adse Pra\u00adxis\u00adhin\u00adwei\u00adse basie\u00adren auf den Prin\u00adzi\u00adpi\u00aden und Merk\u00adma\u00adlen aus dem <a href=\"https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2023\/08\/240108_BIII_PP1_eng_web.pdf\">Posi\u00adti\u00adons\u00adpa\u00adpier #1<\/a> der BIII, in dem \u201eech\u00adtes Impact Inves\u00adt\u00ading\u201c defi\u00adniert wird. Der AK Immo\u00adbi\u00adli\u00aden hat die\u00adse Kern\u00adthe\u00adsen auf das <a href=\"https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2023\/11\/231124_BIII_PP2_D19.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">Posi\u00adti\u00adons\u00adpa\u00adpier #2<\/a> f\u00fcr Immo\u00adbi\u00adli\u00aden \u00fcber\u00adtra\u00adgen. Mit der Prac\u00adti\u00adcal Gui\u00addance #01 stel\u00adlen wir der Immo\u00adbi\u00adli\u00aden\u00adwirt\u00adschaft eine pra\u00adxis\u00adna\u00adhe und prag\u00adma\u00adti\u00adsche Ori\u00aden\u00adtie\u00adrungs\u00adhil\u00adfe f\u00fcr die Umset\u00adzung die\u00adses Pro\u00adzes\u00adses zur Verf\u00fcgung.<\/p>\n\n\n\n<p><\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t<div class=\"study__meta flex flex-col gap-y-4\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<p class=\"study__cat text-xs w-full flex flex-wrap gap-x-2 gap-y-1 mb-1\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"block px-2 py-1 bg-white border border-black rounded-full\">AK Immo\u00adbi\u00adli\u00aden<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"block px-2 py-1 bg-white border border-black rounded-full\">impact inves\u00adt\u00ading<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"block px-2 py-1 bg-white border border-black rounded-full\">real easta\u00adte<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"block px-2 py-1 bg-white border border-black rounded-full\">immo\u00adbi\u00adli\u00aden<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/p>\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2025\/01\/250110_BIII_Praxishinweis_1_Immobilien.pdf\" target=\"_blank\" class=\"study__download biii-link-down w-full\" title=\"Download &quot;Prac\u00adti\u00adcal Gui\u00addance #01 Impact in Real Estate&quot;\">\n\t\t\t\t\t\t\t\t\t\tDownload&nbsp;<\/a>\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<\/article>\n\n\t\t\t\t\t\t\t\t\n\t\t\t\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t<article class=\"study biii-grid items-stretch\">\n\n\t\t\t\t\t\t<div class=\"study__thumb w-3\/4 md:w-full md:col-span-2\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/bundesinitiative-impact-investing.org\/en\/publikationen\/position-paper-04-impact-investing-in-alternative-investments-why-private-market-investments-are-particularly-suited-for-impact-generating-investments\/\" class=\"pb-full relative w-full block overflow-hidden\">\n\t\t\t\t\t\t\t\t\t<noscript><img decoding=\"async\" src=\"https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2024\/11\/BAIBII.jpg\" alt class=\"absolute inset-0 h-full object-cover w-full\"><\/noscript><img data-src=\"https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2024\/11\/BAIBII.jpg\" alt data-srcset=\"https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2024\/11\/BAIBII.jpg 705w, https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2024\/11\/BAIBII-557x640.jpg 557w, https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2024\/11\/BAIBII-131x150.jpg 131w\" sizes=\"(max-width: 705px) 100vw, 705px\" class=\"absolute inset-0 h-full object-cover w-full lazyload\">\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t<div class=\"study__wrapper w-full md:col-start-5 md:col-end-13 flex flex-col justify-between gap-y-4\">\n\n\t\t\t\t\t\t\t<div class=\"study__inner flex flex-col gap-y-4\">\n\t\t\t\t\t\t\t\t<div class=\"study__header block\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<h3 class=\"study__title text-lg\">\n\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/bundesinitiative-impact-investing.org\/en\/publikationen\/position-paper-04-impact-investing-in-alternative-investments-why-private-market-investments-are-particularly-suited-for-impact-generating-investments\/\">Posi\u00adti\u00adon Paper #04 \/ Impact Inves\u00adt\u00ading in Alter\u00adna\u00adti\u00adve Invest\u00adments \u2013 Why pri\u00adva\u00adte mar\u00adket invest\u00adments are par\u00adti\u00adcu\u00adlar\u00adly sui\u00adted for impact-gene\u00adra\u00ad\u00adting investments<\/a>\n\t\t\t\t\t\t\t\t\t<\/h3>\n\t\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t\t<div class=\"study__content w-full text-base Wysiwyg\">\n\t\t\t\t\t\t\t\t\t\n<p>This paper dis\u00adcus\u00adses why alter\u00adna\u00adti\u00adve invest\u00adments via pri\u00adva\u00adte mar\u00adkets are espe\u00adci\u00adal\u00adly well equip\u00adped to gene\u00adra\u00adte impact com\u00adpared to public mar\u00adket invest\u00adments due to their direct influence on assets, e.g. through ope\u00adra\u00adtio\u00adnal con\u00adtrol, or through their direct finan\u00adcing in less effi\u00adci\u00adent capi\u00adtal mar\u00adkets. It also shows why they can make a signi\u00adfi\u00adcant con\u00adtri\u00adbu\u00adti\u00adon to sol\u00adving glo\u00adbal chal\u00adlenges by suc\u00adcessful\u00adly imple\u00admen\u00adting impact gene\u00adra\u00adting investments.<\/p>\n\n\n\n<p><\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t<div class=\"study__meta flex flex-col gap-y-4\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<p class=\"study__cat text-xs w-full flex flex-wrap gap-x-2 gap-y-1 mb-1\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"block px-2 py-1 bg-white border border-black rounded-full\">impact inves\u00adt\u00ading<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"block px-2 py-1 bg-white border border-black rounded-full\">inves\u00adtors<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"block px-2 py-1 bg-white border border-black rounded-full\">alter\u00adna\u00adti\u00adve investments<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"block px-2 py-1 bg-white border border-black rounded-full\">pri\u00adva\u00adte markets<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/p>\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2024\/11\/BAI_BIII_Position_Paper_Impact_Investing_in_Alternative_Investments.pdf\" target=\"_blank\" class=\"study__download biii-link-down w-full\" title=\"Download &quot;Posi\u00adti\u00adon Paper #04 \/ Impact Inves\u00adt\u00ading in Alter\u00adna\u00adti\u00adve Invest\u00adments \u2013 Why pri\u00adva\u00adte mar\u00adket invest\u00adments are par\u00adti\u00adcu\u00adlar\u00adly sui\u00adted for impact-gene\u00adra\u00adting investments&quot;\">\n\t\t\t\t\t\t\t\t\t\tDownload&nbsp;<\/a>\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<\/article>\n\n\t\t\t\t\t\t\t\t\n\t\t\t\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t<article class=\"study biii-grid items-stretch\">\n\n\t\t\t\t\t\t<div class=\"study__thumb w-3\/4 md:w-full md:col-span-2\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/bundesinitiative-impact-investing.org\/en\/publikationen\/position-paper-03-impact-due-diligence-principles-english-version\/\" class=\"pb-full relative w-full block overflow-hidden\">\n\t\t\t\t\t\t\t\t\t<noscript><img decoding=\"async\" src=\"https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2024\/02\/BIII_PP3_IDD_eng_l-1200x1200.png\" alt class=\"absolute inset-0 h-full object-cover w-full\"><\/noscript><img data-src=\"https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2024\/02\/BIII_PP3_IDD_eng_l-1200x1200.png\" alt data-srcset=\"https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2024\/02\/BIII_PP3_IDD_eng_l-1200x1200.png 1200w, https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2024\/02\/BIII_PP3_IDD_eng_l-640x640.png 640w, https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2024\/02\/BIII_PP3_IDD_eng_l-1024x1024.png 1024w, https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2024\/02\/BIII_PP3_IDD_eng_l-150x150.png 150w, https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2024\/02\/BIII_PP3_IDD_eng_l-768x768.png 768w, https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2024\/02\/BIII_PP3_IDD_eng_l-1536x1536.png 1536w, https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2024\/02\/BIII_PP3_IDD_eng_l-2048x2048.png 2048w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" class=\"absolute inset-0 h-full object-cover w-full lazyload\">\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t<div class=\"study__wrapper w-full md:col-start-5 md:col-end-13 flex flex-col justify-between gap-y-4\">\n\n\t\t\t\t\t\t\t<div class=\"study__inner flex flex-col gap-y-4\">\n\t\t\t\t\t\t\t\t<div class=\"study__header block\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<h3 class=\"study__title text-lg\">\n\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/bundesinitiative-impact-investing.org\/en\/publikationen\/position-paper-03-impact-due-diligence-principles-english-version\/\">Posi\u00adti\u00adon Paper #03 \/ Impact Due Dili\u00adgence Prin\u00adci\u00adples, Eng\u00adlish version<\/a>\n\t\t\t\t\t\t\t\t\t<\/h3>\n\t\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t\t<div class=\"study__content w-full text-base Wysiwyg\">\n\t\t\t\t\t\t\t\t\t\n<p>The Posi\u00adti\u00adon Paper \u201cImpact Due Dili\u00adgence Prin\u00adci\u00adples\u201d of the Bun\u00addes\u00adin\u00aditia\u00adti\u00adve Impact Inves\u00adt\u00ading pro\u00advi\u00addes impact inves\u00adtors and inves\u00adtees with a frame\u00adwork for the incre\u00adasing\u00adly important impact due dili\u00adgence. The prin\u00adci\u00adples app\u00adly throug\u00adhout the enti\u00adre invest\u00adment pro\u00adcess and across all asset clas\u00adses. The paper was deve\u00adlo\u00adped within a pro\u00adject group of the <a href=\"https:\/\/bundesinitiative-impact-investing.de\/arbeitskreise\/arbeitskreis-wirkungsmessung-und-wirkungsmanagement-wmm\/\">Working Group on Impact Mea\u00adsu\u00adre\u00adment and Manage\u00adment<\/a>, based on com\u00adpre\u00adhen\u00adsi\u00adve lite\u00adra\u00adtu\u00adre rese\u00adarch and a peer review pro\u00adcess invol\u00adving a dozen experts and mem\u00adbers of the working group.<\/p>\n\n\n\n<p>The posi\u00adti\u00adon paper is also available in a short ver\u00adsi\u00adon <a href=\"https:\/\/bundesinitiative-impact-investing.de\/wp-content\/uploads\/2024\/02\/240226_BIII_PP3_IDD_eng_short.pdf\"><strong>here<\/strong><\/a>.<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t<div class=\"study__meta flex flex-col gap-y-4\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<p class=\"study__cat text-xs w-full flex flex-wrap gap-x-2 gap-y-1 mb-1\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"block px-2 py-1 bg-white border border-black rounded-full\">impact inves\u00adt\u00ading<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"block px-2 py-1 bg-white border border-black rounded-full\">Inves\u00adtees<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"block px-2 py-1 bg-white border border-black rounded-full\">Impact Due Dilligence<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"block px-2 py-1 bg-white border border-black rounded-full\">inves\u00adtors<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/p>\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2024\/02\/240226_BIII_PP3_IDD_eng.pdf\" target=\"_blank\" class=\"study__download biii-link-down w-full\" title=\"Download &quot;Posi\u00adti\u00adon Paper #03 \/ Impact Due Dili\u00adgence Prin\u00adci\u00adples, Eng\u00adlish version&quot;\">\n\t\t\t\t\t\t\t\t\t\tDownload&nbsp;<\/a>\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<\/article>\n\n\t\t\t\t\t\t\t\t\n\t\t\t\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t<article class=\"study biii-grid items-stretch\">\n\n\t\t\t\t\t\t<div class=\"study__thumb w-3\/4 md:w-full md:col-span-2\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/bundesinitiative-impact-investing.org\/en\/publikationen\/positionspapier-03-impact-due-dilligence-prinzipien\/\" class=\"pb-full relative w-full block overflow-hidden\">\n\t\t\t\t\t\t\t\t\t<noscript><img decoding=\"async\" src=\"https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2024\/02\/BIII_PP3_IDD-1200x1200.png\" alt class=\"absolute inset-0 h-full object-cover w-full\"><\/noscript><img data-src=\"https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2024\/02\/BIII_PP3_IDD-1200x1200.png\" alt data-srcset=\"https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2024\/02\/BIII_PP3_IDD-1200x1200.png 1200w, https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2024\/02\/BIII_PP3_IDD-640x640.png 640w, https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2024\/02\/BIII_PP3_IDD-1024x1024.png 1024w, https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2024\/02\/BIII_PP3_IDD-150x150.png 150w, https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2024\/02\/BIII_PP3_IDD-768x768.png 768w, https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2024\/02\/BIII_PP3_IDD-1536x1536.png 1536w, https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2024\/02\/BIII_PP3_IDD-2048x2048.png 2048w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" class=\"absolute inset-0 h-full object-cover w-full lazyload\">\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t<div class=\"study__wrapper w-full md:col-start-5 md:col-end-13 flex flex-col justify-between gap-y-4\">\n\n\t\t\t\t\t\t\t<div class=\"study__inner flex flex-col gap-y-4\">\n\t\t\t\t\t\t\t\t<div class=\"study__header block\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<h3 class=\"study__title text-lg\">\n\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/bundesinitiative-impact-investing.org\/en\/publikationen\/positionspapier-03-impact-due-dilligence-prinzipien\/\">Posi\u00adti\u00adons\u00adpa\u00adpier #03 Impact-Due-Dilligence-Prinzipien<\/a>\n\t\t\t\t\t\t\t\t\t<\/h3>\n\t\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t\t<div class=\"study__content w-full text-base Wysiwyg\">\n\t\t\t\t\t\t\t\t\t\n<p>Das Posi\u00adti\u00adons\u00adpa\u00adpier Impact-Due-Dili\u00ad\u00adgence-Prin\u00ad\u00adzi\u00adpi\u00aden der Bun\u00addes\u00adin\u00aditia\u00adti\u00adve Impact Inves\u00adt\u00ading bie\u00adtet Impact Investor:innen und Inves\u00adtees einen Ori\u00aden\u00adtie\u00adrungs\u00adrah\u00admen f\u00fcr die immer wich\u00adti\u00adger wer\u00adden\u00adde Impact Due Dili\u00adgence. Die Grund\u00ads\u00e4t\u00adze gel\u00adten \u00fcber den gesam\u00adten Invest\u00adment\u00adpro\u00adzess hin\u00adweg und f\u00fcr alle Anla\u00adge\u00adklas\u00adsen. Das Papier wur\u00adde im Rah\u00admen einer Pro\u00adjekt\u00adgrup\u00adpe des <a href=\"https:\/\/bundesinitiative-impact-investing.de\/arbeitskreise\/arbeitskreis-wirkungsmessung-und-wirkungsmanagement-wmm\/\">Arbeits\u00adkrei\u00adses Wir\u00adkungs\u00admes\u00adsung und Wir\u00adkungs\u00adma\u00adnage\u00adment<\/a> und auf der Grund\u00adla\u00adge einer umfas\u00adsen\u00adden Lite\u00adra\u00adtur\u00adre\u00adcher\u00adche und eines Peer-Review-Ver\u00ad\u00ad\u00adfah\u00ad\u00adrens, in das ein Duzend Expert:innen und die Mit\u00adglie\u00adder des Arbeits\u00adkrei\u00adses ein\u00adbe\u00adzo\u00adgen wur\u00adden, erarbeitet.<\/p>\n\n\n\n<p>Das Posi\u00adti\u00adons\u00adpa\u00adpier ist <a href=\"https:\/\/bundesinitiative-impact-investing.de\/wp-content\/uploads\/2024\/02\/240222_BIII_PP3_IDD_d_kurz-1.pdf\"><strong>hier<\/strong> <\/a>auch als Kurz\u00adver\u00adsi\u00adon verf\u00fcgbar.<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t<div class=\"study__meta flex flex-col gap-y-4\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<p class=\"study__cat text-xs w-full flex flex-wrap gap-x-2 gap-y-1 mb-1\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"block px-2 py-1 bg-white border border-black rounded-full\">impact inves\u00adt\u00ading<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"block px-2 py-1 bg-white border border-black rounded-full\">Ori\u00aden\u00adtie\u00adrungs\u00adrah\u00admen<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"block px-2 py-1 bg-white border border-black rounded-full\">Investor:innen<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"block px-2 py-1 bg-white border border-black rounded-full\">Inves\u00adtees<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"block px-2 py-1 bg-white border border-black rounded-full\">Impact Due Dilligence<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/p>\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2024\/02\/BIII_Positionspapier_Impact_Due_Diligence_Prinzipien.pdf\" target=\"_blank\" class=\"study__download biii-link-down w-full\" title=\"Download &quot;Posi\u00adti\u00adons\u00adpa\u00adpier #03 Impact-Due-Dilligence-Prinzipien&quot;\">\n\t\t\t\t\t\t\t\t\t\tDownload&nbsp;<\/a>\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<\/article>\n\n\t\t\t\t\t\t\t\t\n\t\t\t\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t<article class=\"study biii-grid items-stretch\">\n\n\t\t\t\t\t\t<div class=\"study__thumb w-3\/4 md:w-full md:col-span-2\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/bundesinitiative-impact-investing.org\/en\/publikationen\/discussion-paper-02-why-impact-investing-in-frontier-emerging-markets\/\" class=\"pb-full relative w-full block overflow-hidden\">\n\t\t\t\t\t\t\t\t\t<noscript><img decoding=\"async\" src=\"https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2023\/12\/231208_DP_2_Zuschnitt_sq_1200.png\" alt class=\"absolute inset-0 h-full object-cover w-full\"><\/noscript><img data-src=\"https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2023\/12\/231208_DP_2_Zuschnitt_sq_1200.png\" alt data-srcset=\"https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2023\/12\/231208_DP_2_Zuschnitt_sq_1200.png 1200w, https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2023\/12\/231208_DP_2_Zuschnitt_sq_1200-640x640.png 640w, https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2023\/12\/231208_DP_2_Zuschnitt_sq_1200-1024x1024.png 1024w, https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2023\/12\/231208_DP_2_Zuschnitt_sq_1200-150x150.png 150w, https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2023\/12\/231208_DP_2_Zuschnitt_sq_1200-768x768.png 768w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" class=\"absolute inset-0 h-full object-cover w-full lazyload\">\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t<div class=\"study__wrapper w-full md:col-start-5 md:col-end-13 flex flex-col justify-between gap-y-4\">\n\n\t\t\t\t\t\t\t<div class=\"study__inner flex flex-col gap-y-4\">\n\t\t\t\t\t\t\t\t<div class=\"study__header block\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<h3 class=\"study__title text-lg\">\n\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/bundesinitiative-impact-investing.org\/en\/publikationen\/discussion-paper-02-why-impact-investing-in-frontier-emerging-markets\/\">Dis\u00adcus\u00adsion Paper #02 Why Impact Inves\u00adt\u00ading in Fron\u00adtier &amp; Emer\u00adging Markets?<\/a>\n\t\t\t\t\t\t\t\t\t<\/h3>\n\t\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t\t<div class=\"study__content w-full text-base Wysiwyg\">\n\t\t\t\t\t\t\t\t\t\n<p>The Dis\u00adcus\u00adsion Paper of the BIII Working Group \u201cFron\u00adtier and Emer\u00adging Mar\u00adkets\u201d (WG FEM) aims to shed light on the com\u00adpel\u00adling reasons to invest in FEM. It is dis\u00adcus\u00adsed why and how impact inves\u00adt\u00ading in FEM repres\u00adents a pro\u00admi\u00adsing way to simul\u00adta\u00adneous\u00adly gene\u00adra\u00adte mar\u00adket-ade\u00ad\u00adqua\u00ad\u00adte finan\u00adcial returns and impact. The atten\u00adti\u00adon is tur\u00adned to the vast poten\u00adti\u00adal invol\u00adved, while also cove\u00adring the spe\u00adci\u00adfic&nbsp;risks.<\/p>\n\n\n\n<p>Sha\u00adring the insights of BIII and WG FEM \u2013 a con\u00adsor\u00adti\u00adum of sea\u00adso\u00adned experts with a pro\u00adven track record and deep mar\u00adket know\u00adledge \u2013 this paper endea\u00advors to initia\u00adte a com\u00adpre\u00adhen\u00adsi\u00adve dis\u00adcour\u00adse among the invest\u00adment com\u00admu\u00adni\u00adty regar\u00adding the trans\u00adfor\u00adma\u00adti\u00adve poten\u00adti\u00adal of impact inves\u00adt\u00ading in&nbsp;FEM.<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t<div class=\"study__meta flex flex-col gap-y-4\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<p class=\"study__cat text-xs w-full flex flex-wrap gap-x-2 gap-y-1 mb-1\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"block px-2 py-1 bg-white border border-black rounded-full\">AK FEM<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"block px-2 py-1 bg-white border border-black rounded-full\">dis\u00adcus\u00adsion<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"block px-2 py-1 bg-white border border-black rounded-full\">impact inves\u00adt\u00ading<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/p>\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2023\/12\/231213_BIII_DP_FEM_web.pdf\" target=\"_blank\" class=\"study__download biii-link-down w-full\" title=\"Download &quot;Dis\u00adcus\u00adsion Paper #02 Why Impact Inves\u00adt\u00ading in Fron\u00adtier &amp; Emer\u00adging Markets?&quot;\">\n\t\t\t\t\t\t\t\t\t\tDownload&nbsp;<\/a>\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<\/article>\n\n\t\t\t\t\t\t\t\t\n\t\t\t\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t<article class=\"study biii-grid items-stretch\">\n\n\t\t\t\t\t\t<div class=\"study__thumb w-3\/4 md:w-full md:col-span-2\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/bundesinitiative-impact-investing.org\/en\/publikationen\/position-paper-02-impact-investing-in-real-estate-english-version\/\" class=\"pb-full relative w-full block overflow-hidden\">\n\t\t\t\t\t\t\t\t\t<noscript><img decoding=\"async\" src=\"https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2025\/02\/PP02_IIRE-1200x1200.jpg\" alt class=\"absolute inset-0 h-full object-cover w-full\"><\/noscript><img data-src=\"https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2025\/02\/PP02_IIRE-1200x1200.jpg\" alt data-srcset sizes=\"(max-width: 1200px) 100vw, 1200px\" class=\"absolute inset-0 h-full object-cover w-full lazyload\">\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t<div class=\"study__wrapper w-full md:col-start-5 md:col-end-13 flex flex-col justify-between gap-y-4\">\n\n\t\t\t\t\t\t\t<div class=\"study__inner flex flex-col gap-y-4\">\n\t\t\t\t\t\t\t\t<div class=\"study__header block\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<h3 class=\"study__title text-lg\">\n\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/bundesinitiative-impact-investing.org\/en\/publikationen\/position-paper-02-impact-investing-in-real-estate-english-version\/\">Posi\u00adti\u00adon Paper #02 \/ Impact Inves\u00adt\u00ading in Real Estate, Eng\u00adlish version<\/a>\n\t\t\t\t\t\t\t\t\t<\/h3>\n\t\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t\t<div class=\"study__content w-full text-base Wysiwyg\">\n\t\t\t\t\t\t\t\t\t\n<p>The pur\u00adpo\u00adse of this posi\u00adti\u00adon paper is to out\u00adline the spe\u00adci\u00adfics of impact inves\u00adt\u00ading in the real estate asset class1 and to pro\u00advi\u00adde a basis for reflec\u00adtion on pre\u00advious actions. The paper builds on Posi\u00adti\u00adon Paper #012 of the Ger\u00adman Impact Inves\u00adt\u00ading Asso\u00adcia\u00adti\u00adon (BIII), which pro\u00advi\u00addes a sci\u00aden\u00adti\u00adfi\u00adcal\u00adly based and gene\u00adra\u00adli\u00adsed defi\u00adni\u00adti\u00adon of impact investing.<\/p>\n\n\n\n<p><\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t<div class=\"study__meta flex flex-col gap-y-4\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<p class=\"study__cat text-xs w-full flex flex-wrap gap-x-2 gap-y-1 mb-1\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"block px-2 py-1 bg-white border border-black rounded-full\">impact inves\u00adt\u00ading<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"block px-2 py-1 bg-white border border-black rounded-full\">real estate<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"block px-2 py-1 bg-white border border-black rounded-full\">AK Immo\u00adbi\u00adli\u00aden<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/p>\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2025\/02\/250115_BIII_PP2_eng_D2.pdf\" target=\"_blank\" class=\"study__download biii-link-down w-full\" title=\"Download &quot;Posi\u00adti\u00adon Paper #02 \/ Impact Inves\u00adt\u00ading in Real Estate, Eng\u00adlish version&quot;\">\n\t\t\t\t\t\t\t\t\t\tDownload&nbsp;<\/a>\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<\/article>\n\n\t\t\t\t\t\t\t\t\n\t\t\t\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t<article class=\"study biii-grid items-stretch\">\n\n\t\t\t\t\t\t<div class=\"study__thumb w-3\/4 md:w-full md:col-span-2\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/bundesinitiative-impact-investing.org\/en\/publikationen\/positionspapier-02-immobilien\/\" class=\"pb-full relative w-full block overflow-hidden\">\n\t\t\t\t\t\t\t\t\t<noscript><img decoding=\"async\" src=\"https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2023\/11\/BIII_PP2_Website_2480px_square-1200x1200.png\" alt class=\"absolute inset-0 h-full object-cover w-full\"><\/noscript><img data-src=\"https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2023\/11\/BIII_PP2_Website_2480px_square-1200x1200.png\" alt data-srcset=\"https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2023\/11\/BIII_PP2_Website_2480px_square-1200x1200.png 1200w, https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2023\/11\/BIII_PP2_Website_2480px_square-640x640.png 640w, https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2023\/11\/BIII_PP2_Website_2480px_square-1024x1024.png 1024w, https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2023\/11\/BIII_PP2_Website_2480px_square-150x150.png 150w, https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2023\/11\/BIII_PP2_Website_2480px_square-768x768.png 768w, https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2023\/11\/BIII_PP2_Website_2480px_square-1536x1536.png 1536w, https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2023\/11\/BIII_PP2_Website_2480px_square-2048x2048.png 2048w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" class=\"absolute inset-0 h-full object-cover w-full lazyload\">\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t<div class=\"study__wrapper w-full md:col-start-5 md:col-end-13 flex flex-col justify-between gap-y-4\">\n\n\t\t\t\t\t\t\t<div class=\"study__inner flex flex-col gap-y-4\">\n\t\t\t\t\t\t\t\t<div class=\"study__header block\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<h3 class=\"study__title text-lg\">\n\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/bundesinitiative-impact-investing.org\/en\/publikationen\/positionspapier-02-immobilien\/\">Posi\u00adti\u00adons\u00adpa\u00adpier #02 Immobilien<\/a>\n\t\t\t\t\t\t\t\t\t<\/h3>\n\t\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t\t<div class=\"study__content w-full text-base Wysiwyg\">\n\t\t\t\t\t\t\t\t\t\n<p>Die Immo\u00adbi\u00adli\u00aden\u00adbran\u00adche hat viel Poten\u00adzi\u00adal, um zur L\u00f6sung gesell\u00adschaft\u00adli\u00adcher und \u00f6ko\u00adno\u00admi\u00adscher Pro\u00adble\u00adme bei\u00adzu\u00adtra\u00adgen. Geb\u00e4u\u00adde sowie deren Nut\u00adzung neh\u00admen direk\u00adten Ein\u00adfluss auf diver\u00adse Lebens\u00adbe\u00adrei\u00adche wie Wirt\u00adschaf\u00adten, Arbei\u00adten, Woh\u00adnen, Gesund\u00adheit, Bil\u00addung und Wei\u00adter\u00adbil\u00addung sowie Gemein\u00adschaft. Immo\u00adbi\u00adli\u00aden haben zudem erheb\u00adli\u00adche \u00f6ko\u00adlo\u00adgi\u00adsche Aus\u00adwir\u00adkun\u00adgen: So beein\u00adflus\u00adsen zum Bei\u00adspiel Boden\u00adver\u00adsie\u00adge\u00adlung und Fl\u00e4\u00adchen\u00adbe\u00adbau\u00adung das Stadt\u00adkli\u00adma eher nega\u00adtiv, w\u00e4h\u00adrend Geb\u00e4u\u00adde\u00adbe\u00adgr\u00fc\u00adnung posi\u00adtiv zur Bio\u00addi\u00adver\u00adsi\u00adt\u00e4t in der Stadt bei\u00adtra\u00adgen kann. Bau und Betrieb von Geb\u00e4u\u00adden ver\u00adur\u00adsa\u00adchen bis zu 40 Pro\u00adzent der glo\u00adba\u00adlen CO2-Emmis\u00ad\u00adsio\u00ad\u00adnen. Aktu\u00adell hat der Immo\u00adbi\u00adli\u00aden\u00adsek\u00adtor eine erheb\u00adli\u00adche nega\u00adti\u00adve sozio\u00ad\u00f6ko\u00adlo\u00adgi\u00adsche Wir\u00adkung. Das trans\u00adfor\u00adma\u00adti\u00adve Poten\u00adzi\u00adal wird noch nicht aus\u00adrei\u00adchend genutzt.<\/p>\n\n\n\n<p>Mit dem Posi\u00adti\u00adons\u00adpa\u00adpier #02 Immo\u00adbi\u00adli\u00aden haben wir auf\u00adbau\u00adend auf einem kri\u00adti\u00adschen Umriss der gr\u00f6\u00df\u00adten gesell\u00adschaft\u00adli\u00adchen Pro\u00adble\u00adme im Zusam\u00admen\u00adhang mit dem Immo\u00adbi\u00adli\u00aden\u00adsek\u00adtor sowie deren Fol\u00adgen und Ursa\u00adchen, zun\u00e4chst kon\u00adkre\u00adte L\u00f6sungs\u00adr\u00e4u\u00adme ent\u00adwi\u00adckelt und pr\u00e4\u00adsen\u00adtie\u00adren Prin\u00adzi\u00adpi\u00aden und Eigen\u00adschaf\u00adten des immo\u00adbi\u00adli\u00aden\u00adbe\u00adzo\u00adge\u00adnen Impact Inves\u00adt\u00ading<em>.<\/em><\/p>\n\n\n\n<p><\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t<div class=\"study__meta flex flex-col gap-y-4\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<p class=\"study__cat text-xs w-full flex flex-wrap gap-x-2 gap-y-1 mb-1\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"block px-2 py-1 bg-white border border-black rounded-full\">Impact Inves\u00adt\u00ading in Deutschland<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"block px-2 py-1 bg-white border border-black rounded-full\">AK Immo\u00adbi\u00adli\u00aden<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/p>\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2023\/11\/231124_BIII_PP2_D19.pdf\" target=\"_blank\" class=\"study__download biii-link-down w-full\" title=\"Download &quot;Posi\u00adti\u00adons\u00adpa\u00adpier #02 Immobilien&quot;\">\n\t\t\t\t\t\t\t\t\t\tDownload&nbsp;<\/a>\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<\/article>\n\n\t\t\t\t\t\t\t\t\n\t\t\t\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t<article class=\"study biii-grid items-stretch\">\n\n\t\t\t\t\t\t<div class=\"study__thumb w-3\/4 md:w-full md:col-span-2\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/bundesinitiative-impact-investing.org\/en\/publikationen\/discussion-paper-01-property-obliges-english-version\/\" class=\"pb-full relative w-full block overflow-hidden\">\n\t\t\t\t\t\t\t\t\t<noscript><img decoding=\"async\" src=\"https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2025\/02\/DP01_PPO252-1200x1200.jpg\" alt class=\"absolute inset-0 h-full object-cover w-full\"><\/noscript><img data-src=\"https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2025\/02\/DP01_PPO252-1200x1200.jpg\" alt data-srcset sizes=\"(max-width: 1200px) 100vw, 1200px\" class=\"absolute inset-0 h-full object-cover w-full lazyload\">\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t<div class=\"study__wrapper w-full md:col-start-5 md:col-end-13 flex flex-col justify-between gap-y-4\">\n\n\t\t\t\t\t\t\t<div class=\"study__inner flex flex-col gap-y-4\">\n\t\t\t\t\t\t\t\t<div class=\"study__header block\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<h3 class=\"study__title text-lg\">\n\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/bundesinitiative-impact-investing.org\/en\/publikationen\/discussion-paper-01-property-obliges-english-version\/\">Dis\u00adcus\u00adsion Paper #01 \/ Pro\u00adper\u00adty Obli\u00adges, Eng\u00adlish version<\/a>\n\t\t\t\t\t\t\t\t\t<\/h3>\n\t\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t\t<div class=\"study__content w-full text-base Wysiwyg\">\n\t\t\t\t\t\t\t\t\t\n<p>As part of the real estate sec\u00adtor, the Ger\u00adman Impact Inves\u00adt\u00ading Asso\u00adcia\u00adti\u00adon aims to take a clear social and envi\u00adron\u00admen\u00adtal stance. The initia\u00adti\u00adve is com\u00admit\u00adted to rai\u00adsing awa\u00adre\u00adness of our built envi\u00adron\u00adment and encou\u00adra\u00adging all stake\u00adhol\u00adders to take respon\u00adsi\u00adbi\u00adli\u00adty for their pro\u00adper\u00adty and con\u00adtri\u00adbu\u00adte to achie\u00adving cli\u00adma\u00adte goals and social respon\u00adsi\u00adbi\u00adli\u00adty. To this end, the fol\u00adlo\u00adwing dis\u00adcus\u00adsion paper sets out nine key the\u00admes to gui\u00adde poli\u00adcy\u00adma\u00adkers, asso\u00adcia\u00adti\u00adons and other stake\u00adhol\u00adders in the sector.<\/p>\n\n\n\n<p><\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t<div class=\"study__meta flex flex-col gap-y-4\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<p class=\"study__cat text-xs w-full flex flex-wrap gap-x-2 gap-y-1 mb-1\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"block px-2 py-1 bg-white border border-black rounded-full\">AK Immo\u00adbi\u00adli\u00aden<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"block px-2 py-1 bg-white border border-black rounded-full\">dis\u00adcus\u00adsion<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"block px-2 py-1 bg-white border border-black rounded-full\">impact inves\u00adt\u00ading<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"block px-2 py-1 bg-white border border-black rounded-full\">real estate<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/p>\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2025\/02\/250115_BIII_DP_property_obliges_D1.pdf\" target=\"_blank\" class=\"study__download biii-link-down w-full\" title=\"Download &quot;Dis\u00adcus\u00adsion Paper #01 \/ Pro\u00adper\u00adty Obli\u00adges, Eng\u00adlish version&quot;\">\n\t\t\t\t\t\t\t\t\t\tDownload&nbsp;<\/a>\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<\/article>\n\n\t\t\t\t\t\t\t\t\n\t\t\t\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t<article class=\"study biii-grid items-stretch\">\n\n\t\t\t\t\t\t<div class=\"study__thumb w-3\/4 md:w-full md:col-span-2\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/bundesinitiative-impact-investing.org\/en\/publikationen\/diskussionspapier-01-eigentum-verpflichtet\/\" class=\"pb-full relative w-full block overflow-hidden\">\n\t\t\t\t\t\t\t\t\t<noscript><img decoding=\"async\" src=\"https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2023\/04\/BIII_DP1_Eigentum_verpflichtet_final-2-1-1200x1200.png\" alt class=\"absolute inset-0 h-full object-cover w-full\"><\/noscript><img data-src=\"https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2023\/04\/BIII_DP1_Eigentum_verpflichtet_final-2-1-1200x1200.png\" alt data-srcset=\"https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2023\/04\/BIII_DP1_Eigentum_verpflichtet_final-2-1-1200x1200.png 1200w, https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2023\/04\/BIII_DP1_Eigentum_verpflichtet_final-2-1-640x640.png 640w, https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2023\/04\/BIII_DP1_Eigentum_verpflichtet_final-2-1-1024x1024.png 1024w, https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2023\/04\/BIII_DP1_Eigentum_verpflichtet_final-2-1-150x150.png 150w, https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2023\/04\/BIII_DP1_Eigentum_verpflichtet_final-2-1-768x768.png 768w, https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2023\/04\/BIII_DP1_Eigentum_verpflichtet_final-2-1-1536x1536.png 1536w, https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2023\/04\/BIII_DP1_Eigentum_verpflichtet_final-2-1-2048x2048.png 2048w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" class=\"absolute inset-0 h-full object-cover w-full lazyload\">\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t<div class=\"study__wrapper w-full md:col-start-5 md:col-end-13 flex flex-col justify-between gap-y-4\">\n\n\t\t\t\t\t\t\t<div class=\"study__inner flex flex-col gap-y-4\">\n\t\t\t\t\t\t\t\t<div class=\"study__header block\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<h3 class=\"study__title text-lg\">\n\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/bundesinitiative-impact-investing.org\/en\/publikationen\/diskussionspapier-01-eigentum-verpflichtet\/\">Dis\u00adkus\u00adsi\u00adons\u00adpa\u00adpier #01 \/ Eigen\u00adtum verpflichtet<\/a>\n\t\t\t\t\t\t\t\t\t<\/h3>\n\t\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t\t<div class=\"study__content w-full text-base Wysiwyg\">\n\t\t\t\t\t\t\t\t\t\n<p>Im Dis\u00adkus\u00adsi\u00adons\u00adpa\u00adpier Eigen\u00adtum ver\u00adpflich\u00adtet hat die Bun\u00addes\u00adin\u00aditia\u00adti\u00adve Impact Inves\u00adt\u00ading neun Kern\u00adthe\u00adsen ent\u00adwi\u00adckelt, die als Ori\u00aden\u00adtie\u00adrung f\u00fcr Poli\u00adtik, Ver\u00adb\u00e4n\u00adde und Akteur:innen der Bran\u00adche die\u00adnen sol\u00adlen. Damit m\u00f6ch\u00adten wir als Teil der Immo\u00adbi\u00adli\u00aden\u00adwirt\u00adschaft eine kla\u00adre Stel\u00adlung bezie\u00adhen. Wir wol\u00adlen alle invol\u00advier\u00adten Akteur:innen ermu\u00adti\u00adgen, f\u00fcr ihr Eigen\u00adtum ein\u00adzu\u00adste\u00adhen und ihren Teil an der Errei\u00adchung der Kli\u00adma\u00adzie\u00adle und der \u00dcber\u00adnah\u00adme sozia\u00adler Ver\u00adant\u00adwor\u00adtung zu leisten.<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t<div class=\"study__meta flex flex-col gap-y-4\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<p class=\"study__cat text-xs w-full flex flex-wrap gap-x-2 gap-y-1 mb-1\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"block px-2 py-1 bg-white border border-black rounded-full\">Defi\u00adni\u00adtio\u00adnen<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"block px-2 py-1 bg-white border border-black rounded-full\">Impact Inves\u00adt\u00ading in Deutschland<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"block px-2 py-1 bg-white border border-black rounded-full\">Dis\u00adkus\u00adsi\u00adon<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"block px-2 py-1 bg-white border border-black rounded-full\">AK Immo\u00adbi\u00adli\u00aden<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/p>\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2023\/04\/BIII_DP1_Eigentum_verpflichtet_final-1.pdf\" target=\"_blank\" class=\"study__download biii-link-down w-full\" title=\"Download &quot;Dis\u00adkus\u00adsi\u00adons\u00adpa\u00adpier #01 \/ Eigen\u00adtum verpflichtet&quot;\">\n\t\t\t\t\t\t\t\t\t\tDownload&nbsp;<\/a>\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<\/article>\n\n\t\t\t\t\t\t\t\t\n\t\t\t\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t<article class=\"study biii-grid items-stretch\">\n\n\t\t\t\t\t\t<div class=\"study__thumb w-3\/4 md:w-full md:col-span-2\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/bundesinitiative-impact-investing.org\/en\/publikationen\/http-biii-studio-bens-com-wp-content-uploads-2023-02-biii_pp1_impact-investing-pdf\/\" class=\"pb-full relative w-full block overflow-hidden\">\n\t\t\t\t\t\t\t\t\t<noscript><img decoding=\"async\" src=\"https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2023\/04\/BIII_PP1_Impact-Investing-1-1-1-1200x1200.png\" alt class=\"absolute inset-0 h-full object-cover w-full\"><\/noscript><img data-src=\"https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2023\/04\/BIII_PP1_Impact-Investing-1-1-1-1200x1200.png\" alt data-srcset=\"https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2023\/04\/BIII_PP1_Impact-Investing-1-1-1-1200x1200.png 1200w, https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2023\/04\/BIII_PP1_Impact-Investing-1-1-1-640x640.png 640w, https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2023\/04\/BIII_PP1_Impact-Investing-1-1-1-1024x1024.png 1024w, https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2023\/04\/BIII_PP1_Impact-Investing-1-1-1-150x150.png 150w, https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2023\/04\/BIII_PP1_Impact-Investing-1-1-1-768x768.png 768w, https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2023\/04\/BIII_PP1_Impact-Investing-1-1-1-1536x1536.png 1536w, https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2023\/04\/BIII_PP1_Impact-Investing-1-1-1-2048x2048.png 2048w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" class=\"absolute inset-0 h-full object-cover w-full lazyload\">\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t<div class=\"study__wrapper w-full md:col-start-5 md:col-end-13 flex flex-col justify-between gap-y-4\">\n\n\t\t\t\t\t\t\t<div class=\"study__inner flex flex-col gap-y-4\">\n\t\t\t\t\t\t\t\t<div class=\"study__header block\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<h3 class=\"study__title text-lg\">\n\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/bundesinitiative-impact-investing.org\/en\/publikationen\/http-biii-studio-bens-com-wp-content-uploads-2023-02-biii_pp1_impact-investing-pdf\/\">Posi\u00adti\u00adons\u00adpa\u00adpier #01 \/ Impact Investing<\/a>\n\t\t\t\t\t\t\t\t\t<\/h3>\n\t\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t\t<div class=\"study__content w-full text-base Wysiwyg\">\n\t\t\t\t\t\t\t\t\t\n<p>Das Posi\u00adti\u00adons\u00adpa\u00adpier Impact Inves\u00adt\u00ading bil\u00addet f\u00fcr die Bun\u00addes\u00adin\u00aditia\u00adti\u00adve Impact Inves\u00adt\u00ading den zen\u00adtra\u00adlen Orientierungsrahmen\u200b. Es erm\u00f6g\u00adlicht eine Dif\u00adfe\u00adren\u00adzie\u00adrung ver\u00adschie\u00adde\u00adner Impact-Ans\u00e4\u00adt\u00ad\u00adze und eine kla\u00adre Abgren\u00adzung von kon\u00adven\u00adtio\u00adnel\u00adlen ESG-Ans\u00e4\u00adt\u00ad\u00adzen\u200b. Das Papier wur\u00adde im Rah\u00admen des Arbeits\u00adkrei\u00adses Wir\u00adkungs\u00admes\u00adsung und Wir\u00adkungs\u00adma\u00adnage\u00adment und auf der Grund\u00adla\u00adge vie\u00adler Kon\u00adsul\u00adta\u00adtio\u00adnen und Ein\u00adzel\u00adge\u00adspr\u00e4\u00adche erar\u00adbei\u00adtet und von der Mit\u00adglie\u00adder\u00adver\u00adsamm\u00adlung der Bun\u00addes\u00adin\u00aditia\u00adti\u00adve Impact Inves\u00adt\u00ading im Dezem\u00adber 2022 verabschiedet.<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t<div class=\"study__meta flex flex-col gap-y-4\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<p class=\"study__cat text-xs w-full flex flex-wrap gap-x-2 gap-y-1 mb-1\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"block px-2 py-1 bg-white border border-black rounded-full\">Defi\u00adni\u00adtio\u00adnen<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"block px-2 py-1 bg-white border border-black rounded-full\">Kon\u00adzep\u00adte<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"block px-2 py-1 bg-white border border-black rounded-full\">Wir\u00adkungs-Mes\u00adsung<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"block px-2 py-1 bg-white border border-black rounded-full\">Wir\u00adkungs-Manage\u00adment<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"block px-2 py-1 bg-white border border-black rounded-full\">Impact Inves\u00adt\u00ading in Deutschland<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/p>\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2023\/08\/240327_BIII_PP1_final_web.pdf\" target=\"_blank\" class=\"study__download biii-link-down w-full\" title=\"Download &quot;Posi\u00adti\u00adons\u00adpa\u00adpier #01 \/ Impact Investing&quot;\">\n\t\t\t\t\t\t\t\t\t\tDownload&nbsp;<\/a>\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<\/article>\n\n\t\t\t\t\t\t\t\t\n\t\t\t\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t<article class=\"study biii-grid items-stretch\">\n\n\t\t\t\t\t\t<div class=\"study__thumb w-3\/4 md:w-full md:col-span-2\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/bundesinitiative-impact-investing.org\/en\/publikationen\/english-position-paper-01-impact-investing\/\" class=\"pb-full relative w-full block overflow-hidden\">\n\t\t\t\t\t\t\t\t\t<noscript><img decoding=\"async\" src=\"https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2023\/08\/BIII_PP1_Impact_Investing_eng-1200x1200.png\" alt class=\"absolute inset-0 h-full object-cover w-full\"><\/noscript><img data-src=\"https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2023\/08\/BIII_PP1_Impact_Investing_eng-1200x1200.png\" alt data-srcset=\"https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2023\/08\/BIII_PP1_Impact_Investing_eng-1200x1200.png 1200w, https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2023\/08\/BIII_PP1_Impact_Investing_eng-640x640.png 640w, https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2023\/08\/BIII_PP1_Impact_Investing_eng-1024x1024.png 1024w, https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2023\/08\/BIII_PP1_Impact_Investing_eng-150x150.png 150w, https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2023\/08\/BIII_PP1_Impact_Investing_eng-768x768.png 768w, https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2023\/08\/BIII_PP1_Impact_Investing_eng-1536x1536.png 1536w, https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2023\/08\/BIII_PP1_Impact_Investing_eng-2048x2048.png 2048w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" class=\"absolute inset-0 h-full object-cover w-full lazyload\">\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t<div class=\"study__wrapper w-full md:col-start-5 md:col-end-13 flex flex-col justify-between gap-y-4\">\n\n\t\t\t\t\t\t\t<div class=\"study__inner flex flex-col gap-y-4\">\n\t\t\t\t\t\t\t\t<div class=\"study__header block\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<h3 class=\"study__title text-lg\">\n\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/bundesinitiative-impact-investing.org\/en\/publikationen\/english-position-paper-01-impact-investing\/\">Posi\u00adti\u00adon Paper #01 \/ Impact Inves\u00adt\u00ading, Eng\u00adlish version<\/a>\n\t\t\t\t\t\t\t\t\t<\/h3>\n\t\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t\t<div class=\"study__content w-full text-base Wysiwyg\">\n\t\t\t\t\t\t\t\t\t\n<p>This <a href=\"https:\/\/bundesinitiative-impact-investing.de\/wp-content\/uploads\/2023\/08\/2300804_BIII_PP1_eng_final.pdf\">Posi\u00adti\u00adon Paper<\/a> sum\u00adma\u00adri\u00adzes a nor\u00adma\u00adti\u00adve con\u00adcep\u00adtu\u00adal frame\u00adwork of the Bun\u00addes\u00adin\u00aditia\u00adti\u00adve Impact Inves\u00adt\u00ading (BIII, Ger\u00adman Natio\u00adnal Initia\u00adti\u00adve for Impact Inves\u00adt\u00ading) that offers a dif\u00adfe\u00adren\u00adtia\u00adted defi\u00adni\u00adti\u00adon of impact-ori\u00aden\u00ad\u00adted invest\u00adment approa\u00adches. It ser\u00adves the pur\u00adpo\u00adse of agre\u00ade\u00ading on a defi\u00adni\u00adti\u00adon<br>of \u201cgenui\u00adne\u201d impact inves\u00adt\u00ading that is on the one hand suf\u00adfi\u00adci\u00adent\u00adly sharp and unam\u00adbi\u00adguous for a clear dif\u00adfe\u00adren\u00adtia\u00adti\u00adon from con\u00adven\u00adtio\u00adnal ESG approa\u00adches as well as bet\u00adween dif\u00adfe\u00adrent impact inves\u00adt\u00ading qualities.<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t<div class=\"study__meta flex flex-col gap-y-4\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<p class=\"study__cat text-xs w-full flex flex-wrap gap-x-2 gap-y-1 mb-1\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"block px-2 py-1 bg-white border border-black rounded-full\">Defi\u00adni\u00adti\u00adons<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"block px-2 py-1 bg-white border border-black rounded-full\">Core cha\u00adrac\u00adte\u00adristics<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"block px-2 py-1 bg-white border border-black rounded-full\">Trans\u00adpa\u00adren\u00adcy<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/p>\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2023\/08\/240108_BIII_PP1_eng_web.pdf\" target=\"_blank\" class=\"study__download biii-link-down w-full\" title=\"Download &quot;Posi\u00adti\u00adon Paper #01 \/ Impact Inves\u00adt\u00ading, Eng\u00adlish version&quot;\">\n\t\t\t\t\t\t\t\t\t\tDownload&nbsp;<\/a>\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<\/article>\n\n\t\t\t\t\t\t\t\t\n\t\t\t\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t<article class=\"study biii-grid items-stretch\">\n\n\t\t\t\t\t\t<div class=\"study__thumb w-3\/4 md:w-full md:col-span-2\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/bundesinitiative-impact-investing.org\/en\/publikationen\/impact-investing-in-deutschland-2022-marktstudie\/\" class=\"pb-full relative w-full block overflow-hidden\">\n\t\t\t\t\t\t\t\t\t<noscript><img decoding=\"async\" src=\"https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2023\/04\/BIII-Marktstudie_Impact-Investing-in-Deutschland-2022_single-pages-1-4-1-1200x1200.png\" alt class=\"absolute inset-0 h-full object-cover w-full\"><\/noscript><img data-src=\"https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2023\/04\/BIII-Marktstudie_Impact-Investing-in-Deutschland-2022_single-pages-1-4-1-1200x1200.png\" alt data-srcset=\"https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2023\/04\/BIII-Marktstudie_Impact-Investing-in-Deutschland-2022_single-pages-1-4-1-1200x1200.png 1200w, https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2023\/04\/BIII-Marktstudie_Impact-Investing-in-Deutschland-2022_single-pages-1-4-1-640x640.png 640w, https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2023\/04\/BIII-Marktstudie_Impact-Investing-in-Deutschland-2022_single-pages-1-4-1-1024x1024.png 1024w, https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2023\/04\/BIII-Marktstudie_Impact-Investing-in-Deutschland-2022_single-pages-1-4-1-150x150.png 150w, https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2023\/04\/BIII-Marktstudie_Impact-Investing-in-Deutschland-2022_single-pages-1-4-1-768x768.png 768w, https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2023\/04\/BIII-Marktstudie_Impact-Investing-in-Deutschland-2022_single-pages-1-4-1-1536x1536.png 1536w, https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2023\/04\/BIII-Marktstudie_Impact-Investing-in-Deutschland-2022_single-pages-1-4-1-2048x2048.png 2048w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" class=\"absolute inset-0 h-full object-cover w-full lazyload\">\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t<div class=\"study__wrapper w-full md:col-start-5 md:col-end-13 flex flex-col justify-between gap-y-4\">\n\n\t\t\t\t\t\t\t<div class=\"study__inner flex flex-col gap-y-4\">\n\t\t\t\t\t\t\t\t<div class=\"study__header block\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<h3 class=\"study__title text-lg\">\n\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/bundesinitiative-impact-investing.org\/en\/publikationen\/impact-investing-in-deutschland-2022-marktstudie\/\">Impact Inves\u00adt\u00ading in Deutsch\u00adland 2022 \u2013 Marktstudie<\/a>\n\t\t\t\t\t\t\t\t\t<\/h3>\n\t\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t\t<div class=\"study__content w-full text-base Wysiwyg\">\n\t\t\t\t\t\t\t\t\t\n<p>Da Trans\u00adpa\u00adrenz f\u00fcr die wei\u00adte\u00adre Ver\u00adbrei\u00adtung von Impact Inves\u00adt\u00ading ent\u00adschei\u00addend ist, hat die Bun\u00addes\u00adin\u00aditia\u00adti\u00adve Impact Inves\u00adt\u00ading in Koope\u00adra\u00adti\u00adon mit der Uni\u00adver\u00adsi\u00adt\u00e4t Ham\u00adburg und Advan\u00adced Impact Rese\u00adarch GmbH sowie dem Leib\u00adniz Zen\u00adtrum f\u00fcr Euro\u00adp\u00e4i\u00adsche Wirt\u00adschafts\u00adfor\u00adschung (ZEW) auch 2022 eine Markt\u00adstu\u00addie \u201eImpact Inves\u00adt\u00ading in Deutsch\u00adland 2022\u201c ver\u00ad\u00f6f\u00adfent\u00adlicht. Die\u00adse gibt einen detail\u00adlier\u00adten \u00dcber\u00adblick \u00fcber Ent\u00adwick\u00adlun\u00adgen und Her\u00adaus\u00adfor\u00adde\u00adrun\u00adgen des Impact Inves\u00adt\u00ading Mark\u00adtes in Bezug auf Aspek\u00adte wie Inves\u00adti\u00adti\u00adons\u00admo\u00adti\u00adve, finan\u00adzi\u00adel\u00adle Ren\u00addi\u00adten, Wir\u00adkung oder recht\u00adli\u00adche Rah\u00admen\u00adbe\u00addin\u00adgun\u00adgen. Tie\u00adfer\u00adge\u00adhen\u00adde Ana\u00adly\u00adsen von der Bun\u00addes\u00adin\u00aditia\u00adti\u00adve Impact Inves\u00adt\u00ading dazu fin\u00addest du <a href=\"https:\/\/bundesinitiative-impact-investing.de\/marktstudie\/\" target=\"_blank\" rel=\"noreferrer noopener\">hier<\/a>.<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t<div class=\"study__meta flex flex-col gap-y-4\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<p class=\"study__cat text-xs w-full flex flex-wrap gap-x-2 gap-y-1 mb-1\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"block px-2 py-1 bg-white border border-black rounded-full\">Markt\u00adstu\u00addie<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"block px-2 py-1 bg-white border border-black rounded-full\">Impact Inves\u00adt\u00ading in Deutschland<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/p>\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2023\/05\/BIII-Marktstudie_Impact-Investing-in-Deutschland-2022_single-pages-1.pdf\" target=\"_blank\" class=\"study__download biii-link-down w-full\" title=\"Download &quot;Impact Inves\u00adt\u00ading in Deutsch\u00adland 2022 \u2013 Marktstudie&quot;\">\n\t\t\t\t\t\t\t\t\t\tDownload&nbsp;<\/a>\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<\/article>\n\n\t\t\t\t\t\t\t\t\n\t\t\t\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t<article class=\"study biii-grid items-stretch\">\n\n\t\t\t\t\t\t<div class=\"study__thumb w-3\/4 md:w-full md:col-span-2\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/bundesinitiative-impact-investing.org\/en\/publikationen\/impact-investing-in-germany-2022-market-study-summary\/\" class=\"pb-full relative w-full block overflow-hidden\">\n\t\t\t\t\t\t\t\t\t<noscript><img decoding=\"async\" src=\"https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2023\/04\/Bundesinitiative-Impact-Investing_Summary2-1-1-5-1-1200x1200.png\" alt class=\"absolute inset-0 h-full object-cover w-full\"><\/noscript><img data-src=\"https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2023\/04\/Bundesinitiative-Impact-Investing_Summary2-1-1-5-1-1200x1200.png\" alt data-srcset=\"https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2023\/04\/Bundesinitiative-Impact-Investing_Summary2-1-1-5-1-1200x1200.png 1200w, https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2023\/04\/Bundesinitiative-Impact-Investing_Summary2-1-1-5-1-640x640.png 640w, https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2023\/04\/Bundesinitiative-Impact-Investing_Summary2-1-1-5-1-1024x1024.png 1024w, https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2023\/04\/Bundesinitiative-Impact-Investing_Summary2-1-1-5-1-150x150.png 150w, https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2023\/04\/Bundesinitiative-Impact-Investing_Summary2-1-1-5-1-768x768.png 768w, https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2023\/04\/Bundesinitiative-Impact-Investing_Summary2-1-1-5-1-1536x1536.png 1536w, https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2023\/04\/Bundesinitiative-Impact-Investing_Summary2-1-1-5-1-2048x2048.png 2048w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" class=\"absolute inset-0 h-full object-cover w-full lazyload\">\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t<div class=\"study__wrapper w-full md:col-start-5 md:col-end-13 flex flex-col justify-between gap-y-4\">\n\n\t\t\t\t\t\t\t<div class=\"study__inner flex flex-col gap-y-4\">\n\t\t\t\t\t\t\t\t<div class=\"study__header block\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<h3 class=\"study__title text-lg\">\n\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/bundesinitiative-impact-investing.org\/en\/publikationen\/impact-investing-in-germany-2022-market-study-summary\/\">Impact Inves\u00adt\u00ading in Ger\u00adma\u00adny 2022 \u2013 Mar\u00adket Stu\u00addy Summary<\/a>\n\t\t\t\t\t\t\t\t\t<\/h3>\n\t\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t\t<div class=\"study__content w-full text-base Wysiwyg\">\n\t\t\t\t\t\t\t\t\t\n<p>The 2022 Mar\u00adket Stu\u00addy on Impact Inves\u00adt\u00ading in Ger\u00adma\u00adny was con\u00adduc\u00adted in coope\u00adra\u00adti\u00adon<br>with the Sus\u00adtainable Finan\u00adce Rese\u00adarch Group of Ham\u00adburg Uni\u00adver\u00adsi\u00adty, with Advan\u00adced Impact Rese\u00adarch GmbH (AIR) and ZEW, the Leib\u00adniz Cent\u00adre for Euro\u00adpean Eco\u00adno\u00admic Rese\u00adarch. The stu\u00addy is based on the ana\u00adly\u00adsis of an online sur\u00advey of a wide ran\u00adge of inves\u00adtors and inter\u00adme\u00addia\u00adries focu\u00adsing on impact inves\u00adt\u00ading volu\u00admes, impact inves\u00adt\u00ading approa\u00adches, impact inves\u00adt\u00ading moti\u00adves, impact invest\u00adment stra\u00adte\u00adgies, and on views on the future deve\u00adlo\u00adp\u00adment of the impact inves\u00adt\u00ading mar\u00adket in Ger\u00adma\u00adny. For more in-depth ana\u00adly\u00adsis on the Bun\u00addes\u00adin\u00aditia\u00adti\u00adve Impact Inves\u00adt\u00ading, you can find infor\u00adma\u00adti\u00adon <a href=\"https:\/\/bundesinitiative-impact-investing.de\/marktstudie\/\">here<\/a>.<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t<div class=\"study__meta flex flex-col gap-y-4\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<p class=\"study__cat text-xs w-full flex flex-wrap gap-x-2 gap-y-1 mb-1\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"block px-2 py-1 bg-white border border-black rounded-full\">Markt\u00adstu\u00addie<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"block px-2 py-1 bg-white border border-black rounded-full\">Impact Inves\u00adt\u00ading in Deutschland<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/p>\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2023\/05\/Bundesinitiative-Impact-Investing_Summary2-1-1.pdf\" target=\"_blank\" class=\"study__download biii-link-down w-full\" title=\"Download &quot;Impact Inves\u00adt\u00ading in Ger\u00adma\u00adny 2022 \u2013 Mar\u00adket Stu\u00addy Summary&quot;\">\n\t\t\t\t\t\t\t\t\t\tDownload&nbsp;<\/a>\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<\/article>\n\n\t\t\t\t\t\t\t\t\n\t\t\t\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t<article class=\"study biii-grid items-stretch\">\n\n\t\t\t\t\t\t<div class=\"study__thumb w-3\/4 md:w-full md:col-span-2\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/bundesinitiative-impact-investing.org\/en\/publikationen\/impact-investing-in-deutschland-2020-marktstudie\/\" class=\"pb-full relative w-full block overflow-hidden\">\n\t\t\t\t\t\t\t\t\t<noscript><img decoding=\"async\" src=\"https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2020\/10\/Impact-Investing-in-Deutschland-2020-4-1-1200x1200.png\" alt class=\"absolute inset-0 h-full object-cover w-full\"><\/noscript><img data-src=\"https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2020\/10\/Impact-Investing-in-Deutschland-2020-4-1-1200x1200.png\" alt data-srcset=\"https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2020\/10\/Impact-Investing-in-Deutschland-2020-4-1-1200x1200.png 1200w, https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2020\/10\/Impact-Investing-in-Deutschland-2020-4-1-640x640.png 640w, https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2020\/10\/Impact-Investing-in-Deutschland-2020-4-1-1024x1024.png 1024w, https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2020\/10\/Impact-Investing-in-Deutschland-2020-4-1-150x150.png 150w, https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2020\/10\/Impact-Investing-in-Deutschland-2020-4-1-768x768.png 768w, https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2020\/10\/Impact-Investing-in-Deutschland-2020-4-1-1536x1536.png 1536w, https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2020\/10\/Impact-Investing-in-Deutschland-2020-4-1-2048x2048.png 2048w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" class=\"absolute inset-0 h-full object-cover w-full lazyload\">\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t<div class=\"study__wrapper w-full md:col-start-5 md:col-end-13 flex flex-col justify-between gap-y-4\">\n\n\t\t\t\t\t\t\t<div class=\"study__inner flex flex-col gap-y-4\">\n\t\t\t\t\t\t\t\t<div class=\"study__header block\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<h3 class=\"study__title text-lg\">\n\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/bundesinitiative-impact-investing.org\/en\/publikationen\/impact-investing-in-deutschland-2020-marktstudie\/\">Impact Inves\u00adt\u00ading in Deutsch\u00adland 2020 \u2013 Marktstudie<\/a>\n\t\t\t\t\t\t\t\t\t<\/h3>\n\t\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t\t<div class=\"study__content w-full text-base Wysiwyg\">\n\t\t\t\t\t\t\t\t\t\n<p>Die gemein\u00adsam mit der Uni\u00adver\u00adsi\u00adt\u00e4t Hei\u00addel\u00adberg durch\u00adge\u00adf\u00fchr\u00adte Stu\u00addie Impact Inves\u00adt\u00ading in Deutsch\u00adland 2020 zeigt, dass Impact Inves\u00adt\u00ading in Deutsch\u00adland ein noch unter\u00adsch\u00e4tz\u00adter Markt ist und unter\u00adsucht die Poten\u00adtia\u00adle, Ent\u00adwick\u00adlun\u00adgen und Trends des deut\u00adschen Impact Inves\u00adt\u00ading Markts.<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t<div class=\"study__meta flex flex-col gap-y-4\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<p class=\"study__cat text-xs w-full flex flex-wrap gap-x-2 gap-y-1 mb-1\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"block px-2 py-1 bg-white border border-black rounded-full\">Markt\u00adstu\u00addie<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"block px-2 py-1 bg-white border border-black rounded-full\">Impact Inves\u00adt\u00ading in Deutschland<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/p>\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2023\/05\/Impact-Investing-in-Deutschland-2020.pdf\" target=\"_blank\" class=\"study__download biii-link-down w-full\" title=\"Download &quot;Impact Inves\u00adt\u00ading in Deutsch\u00adland 2020 \u2013 Marktstudie&quot;\">\n\t\t\t\t\t\t\t\t\t\tDownload&nbsp;<\/a>\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<\/article>\n\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t<\/div>\n\n\t\n\t\n<\/section>","protected":false},"excerpt":{"rendered":"","protected":false},"author":8,"featured_media":8425,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"templates\/template-modular.php","meta":{"_acf_changed":false,"wp_typography_post_enhancements_disabled":false,"footnotes":""},"class_list":["post-7132","page","type-page","status-publish","has-post-thumbnail","hentry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Publications &#8211; Bundesverband Impact Investing<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/bundesinitiative-impact-investing.org\/en\/publications\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Publications &#8211; Bundesverband Impact Investing\" \/>\n<meta property=\"og:url\" content=\"https:\/\/bundesinitiative-impact-investing.org\/en\/publications\/\" \/>\n<meta property=\"og:site_name\" content=\"Bundesverband Impact Investing\" \/>\n<meta property=\"article:modified_time\" content=\"2024-04-03T07:04:33+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/bundesinitiative-impact-investing.org\/en\/publications\/\",\"url\":\"https:\/\/bundesinitiative-impact-investing.org\/en\/publications\/\",\"name\":\"Publications &#8211; Bundesverband Impact Investing\",\"isPartOf\":{\"@id\":\"https:\/\/bundesinitiative-impact-investing.org\/en\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/bundesinitiative-impact-investing.org\/en\/publications\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/bundesinitiative-impact-investing.org\/en\/publications\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2025\/05\/Biii-Logo.png\",\"datePublished\":\"2024-04-03T07:04:32+00:00\",\"dateModified\":\"2024-04-03T07:04:33+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/bundesinitiative-impact-investing.org\/en\/publications\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/bundesinitiative-impact-investing.org\/en\/publications\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/bundesinitiative-impact-investing.org\/en\/publications\/#primaryimage\",\"url\":\"https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2025\/05\/Biii-Logo.png\",\"contentUrl\":\"https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2025\/05\/Biii-Logo.png\",\"width\":1946,\"height\":1184},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/bundesinitiative-impact-investing.org\/en\/publications\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Startseite\",\"item\":\"https:\/\/bundesinitiative-impact-investing.org\/en\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Publi\u00adca\u00adti\u00adons\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/bundesinitiative-impact-investing.org\/en\/#website\",\"url\":\"https:\/\/bundesinitiative-impact-investing.org\/en\/\",\"name\":\"Bundesverband Impact Investing\",\"description\":\"\",\"publisher\":{\"@id\":\"https:\/\/bundesinitiative-impact-investing.org\/en\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/bundesinitiative-impact-investing.org\/en\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/bundesinitiative-impact-investing.org\/en\/#organization\",\"name\":\"Bundesinitiative Impact Investing\",\"alternateName\":\"BIII\",\"url\":\"https:\/\/bundesinitiative-impact-investing.org\/en\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/bundesinitiative-impact-investing.org\/en\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2022\/10\/cropped-LOGO_BII.png\",\"contentUrl\":\"https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2022\/10\/cropped-LOGO_BII.png\",\"width\":314,\"height\":180,\"caption\":\"Bundesinitiative Impact Investing\"},\"image\":{\"@id\":\"https:\/\/bundesinitiative-impact-investing.org\/en\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/de.linkedin.com\/company\/bundesinitiativeimpactinvesting\"]}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Publications &#8211; Bundesverband Impact Investing","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/bundesinitiative-impact-investing.org\/en\/publications\/","og_locale":"en_US","og_type":"article","og_title":"Publications &#8211; Bundesverband Impact Investing","og_url":"https:\/\/bundesinitiative-impact-investing.org\/en\/publications\/","og_site_name":"Bundesverband Impact Investing","article_modified_time":"2024-04-03T07:04:33+00:00","twitter_card":"summary_large_image","twitter_misc":{"Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/bundesinitiative-impact-investing.org\/en\/publications\/","url":"https:\/\/bundesinitiative-impact-investing.org\/en\/publications\/","name":"Publications &#8211; Bundesverband Impact Investing","isPartOf":{"@id":"https:\/\/bundesinitiative-impact-investing.org\/en\/#website"},"primaryImageOfPage":{"@id":"https:\/\/bundesinitiative-impact-investing.org\/en\/publications\/#primaryimage"},"image":{"@id":"https:\/\/bundesinitiative-impact-investing.org\/en\/publications\/#primaryimage"},"thumbnailUrl":"https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2025\/05\/Biii-Logo.png","datePublished":"2024-04-03T07:04:32+00:00","dateModified":"2024-04-03T07:04:33+00:00","breadcrumb":{"@id":"https:\/\/bundesinitiative-impact-investing.org\/en\/publications\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/bundesinitiative-impact-investing.org\/en\/publications\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/bundesinitiative-impact-investing.org\/en\/publications\/#primaryimage","url":"https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2025\/05\/Biii-Logo.png","contentUrl":"https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2025\/05\/Biii-Logo.png","width":1946,"height":1184},{"@type":"BreadcrumbList","@id":"https:\/\/bundesinitiative-impact-investing.org\/en\/publications\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Startseite","item":"https:\/\/bundesinitiative-impact-investing.org\/en\/"},{"@type":"ListItem","position":2,"name":"Publi\u00adca\u00adti\u00adons"}]},{"@type":"WebSite","@id":"https:\/\/bundesinitiative-impact-investing.org\/en\/#website","url":"https:\/\/bundesinitiative-impact-investing.org\/en\/","name":"Bundesverband Impact Investing","description":"","publisher":{"@id":"https:\/\/bundesinitiative-impact-investing.org\/en\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/bundesinitiative-impact-investing.org\/en\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/bundesinitiative-impact-investing.org\/en\/#organization","name":"Bundesinitiative Impact Investing","alternateName":"BIII","url":"https:\/\/bundesinitiative-impact-investing.org\/en\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/bundesinitiative-impact-investing.org\/en\/#\/schema\/logo\/image\/","url":"https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2022\/10\/cropped-LOGO_BII.png","contentUrl":"https:\/\/bundesinitiative-impact-investing.org\/wp-content\/uploads\/2022\/10\/cropped-LOGO_BII.png","width":314,"height":180,"caption":"Bundesinitiative Impact Investing"},"image":{"@id":"https:\/\/bundesinitiative-impact-investing.org\/en\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/de.linkedin.com\/company\/bundesinitiativeimpactinvesting"]}]}},"_links":{"self":[{"href":"https:\/\/bundesinitiative-impact-investing.org\/en\/wp-json\/wp\/v2\/pages\/7132","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bundesinitiative-impact-investing.org\/en\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/bundesinitiative-impact-investing.org\/en\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/bundesinitiative-impact-investing.org\/en\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/bundesinitiative-impact-investing.org\/en\/wp-json\/wp\/v2\/comments?post=7132"}],"version-history":[{"count":0,"href":"https:\/\/bundesinitiative-impact-investing.org\/en\/wp-json\/wp\/v2\/pages\/7132\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bundesinitiative-impact-investing.org\/en\/wp-json\/wp\/v2\/media\/8425"}],"wp:attachment":[{"href":"https:\/\/bundesinitiative-impact-investing.org\/en\/wp-json\/wp\/v2\/media?parent=7132"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}