Multifamily Impact Council Releases Final Impact Investing Industry Framework for 2023
(Sep. 18, 2023) — The Multifamily Impact Council today released an updated version of its Multifamily Impact Framework™ to include reporting metrics and guidance for organizations to incorporate and adopt the Framework into their impact investing strategies. Since releasing the initial version in the spring, over 200 organizations have downloaded the Framework and provided valuable feedback to inform the final 2023 version released today.
The enhanced Framework represents the final version for 2023. New features include:
- The addition of 20 specific reporting metrics for each of the Framework’s seven impact principles.
- Guidance for organizations adopting and incorporating the Framework into their impact investing strategies.
- Specific areas of alignment with key global environmental, social, and governance (ESG) benchmarks and standards.
Now complete, the Multifamily Impact Framework™ establishes market-based definitions, minimum impact thresholds, and reporting guidelines to help investors and property owners work from the same page to improve renters’ lives, support environmental goals, and achieve targeted, long-term investment rates of return. The Framework released today results from an 18-month process involving interviews, research, public surveys, feedback sessions, and input from MIC members, its Advisory Board, and stakeholders across the multifamily and impact investing community.
“The final 2023 version of our framework will help organizations across the multifamily industry bolster their own impact initiatives and establish market standards to help increase the flow of impact capital into our sector,” Bob Simpson, MIC President, said. “We’re grateful to all those who helped inform the 2023 Impact Framework and look forward to working with any organization interested in enhancing their impact-driven strategies to adopt the framework as we move forward.”
With the release of Version 1.1, the Multifamily Impact Council will turn its attention and resources to three key areas:
- Continue to build partnerships with ESG benchmarking organizations and impact advisory and reporting firms to streamline the impact reporting process further.
- Develop and share best practices, research, and educational and training resources to support the growth of the multifamily impact investing community.
- Encourage and assist multifamily property owners, investors, lenders, and service providers to adopt the Framework into their impact-driven initiatives.
Adopting the Multifamily Impact Framework™ is free and does not require membership in the Multifamily Impact Council. Please visit the MIC website for more information on the adoption process and how your organization can participate.
About Multifamily Impact Council
The Multifamily Impact Council (MIC) is a non-profit membership organization whose mission is to establish a standard framework of broadly adopted impact investment principles and reporting guidelines for the rental housing industry and build a platform to share information and best practices to help the industry increase the flow of impact-motivated capital into affordable, sustainable rental housing in the United States.
The Multifamily Impact Framework’s Seven Principles