We see this year an expansion of intentions and activities.

88 % of the respondents have answered that impact investing is very important to them. At the same time geography, causes, industries and solutions are becoming more and more diversified.

The trend is clear. The market for impact investing is growing in both depth and sophistication. 67% of the investors say that they expect to increase their impact investments.

Compared to last year’s focus – why, how, what and where do you invest with impact? – with this year’s survey we also sought to understand the behaviour, motivation and the outcome related to investing in impact.

Download ‘Impact Report Nordic Investors 2020’ here or flip through it below.



Most investors find impact investing important to them. It provides good opportunities and return and they expect to increase allocation of capital for impact.

More than half of the investors think that both financial returns and the positive impact on the world in their impact portfolio are in line with or outperforming their expectations.


This year the climate has moved up the impact investing agenda. Investors focus on environmental causes (e.g. agri-food and energy) more than social causes (eg. health and education). SDG 13: Climate Action is highest on the agenda.

Investors value technology as a strong driver for impact.


Most invest in seed (startup stage) and series A (venture stage) for impact.

They decide on causes where they see scalability and where they can contribute with experience and find co-investors.

And they provide patient capital for a longer hold period than normal.