1、2STATE OF THE MARKET 2025GLOBAL IMPACT INVESTING NETWORKAcknowledgments The following members of the GIIN team played an important role in this work:Ariana Alvarado,Panagiota Balfousia,Rudy Dave,Kellen Dorio,Alonso Ortiz Galan,Sean Gilbert,Golshan Helfman,Marin Herold,Winisha Hines,Nikhil Jain,Amand
2、a Joseph,Naoko Kimura,Emily Lamica,Ina Lee,Grace Long,Oishi Masrura,Hannah Munger,Hongyu Pan,Joohee Rand,Blair Read,Elina Rolfe,Christian Rosenholm,Maria Juliana Ruiz,Pamela Rykowski,Jacob Tate,Barbara Teixeira De Barros and Henry Vehslage.We are also grateful to the following individuals who provid
3、ed important feedback:Chiara Andreoli at the Esade Center for Social Impact,Ryan Clancy at Rally Assets,Manuela Jimenez at Latimpacto,Ranjna Khanna at the Indian Impact Investors Council,Hannah Schiff at Developing World Markets and Sonali Singh at the Indian Impact Investors Council.Disclosures The
4、 Global Impact Investing Network(GIIN)is a nonprofit 501c(3)organization dedicated to increasing the scale and effectiveness of impact investing through research,education and other activities.Readers should be aware that the GIIN has and will continue to have relationships with many organizations i
5、dentified in this brief,through some of which the GIIN has received and will continue to receive financial and other support.These materials do not constitute tax,legal,financial or investment advice,nor do they constitute an offer,solicitation or recommendation for the purchase or sale of any finan
6、cial instrument or security.The information contained in these materials is made available solely for general information purposes.The GIIN has collected data from third parties for this document that it believes to be accurate and reliable,but the GIIN does not warrant the accuracy,completeness or