Thrive is in a unique position. Working with both investors and investees, they have the opportunity to first learn from their investees what good measurement looks like for them, before working with investors on how they define it. “And that’s a really humble practice!” says Andrew.
About Common Approach, he adds, “Their approach to measurement enables a fund to define outcomes but not the specific indicators that have to be measured, and it allows different investees to choose different indicators that align to different outcomes that we’re trying to achieve.”
The Common Foundations are based on broad global consensus on the essentials of impact measurement practices, highlighting what is common to many different tools and approaches. Learn more about the Common Foundations.
If you’re already doing impact measurement, you may already meet the Common Foundations minimum standard! Take the quick self-assessment and see if you’re already there or identify areas you may want to strengthen.