IRIS+ is a comprehensive impact measurement and management system developed by the Global Impact Investing Network (GIIN) to enable impact investors to translate impact intentions into measurable results. The framework provides a standardized set of tools and guidance that help investors measure, manage, and optimize their social and environmental impact. By establishing consistent metrics definitions, IRIS+ enables the impact investing industry to compare data across investments and stakeholders, making it possible to measure impact "apples to apples" regardless of geography or sector.
Key features include a comprehensive Metrics Catalog containing qualitative and quantitative performance indicators, curated Core Metrics Sets built on evidence and best practices for specific strategic goals, and alignment with over 50 major frameworks and standards including the Global Reporting Initiative (GRI) Standards. The system is highly flexible, allowing investors to select standard metrics, customize indicators, or create their own supplementary metrics to match their specific investment thesis and impact objectives. IRIS+ enables interoperability with third-party data platforms and systems.
Common use cases include impact fund reporting and performance tracking, investee company impact measurement, impact-focused investment decision-making, and standardized impact communication across investment portfolios. The framework addresses five key dimensions of impact: what outcomes are achieved, who experiences those outcomes, how much impact occurs, the contribution of the investment to impact, and the risk of impact failure.