The Journey to Radicality

The Finance for Impact 2023 Italian Outlook offers an up-to-date description of the state of the art of impact finance in Italy and some reflections on its possible development trajectories. Created by Tiresia – Politecnico di Milano in collaboration with SIA – Social Impact Agenda per l’ Italia and with the support of Impact Europe, the Outlook consolidates and enriches the path of observation and analysis of the evolution of the Italian impact investing market, which Tiresia undertook in 2016 and that today we publish our country’s data for 2022.

This report comes at a time when Impact Investing is still searching for its genuine identity. Market sizing was probably the crucial missing element in the definition of the sector’s identity, and this report is oriented primarily in this direction. This report is, in fact, part of the market sizing exercise that was produced by many European countries under the guidance of Impact Europe and the Global Steering Group (GSG) for Impact Investment and the National Advisory Boards. Such a Europe-wide survey has the specific merit of introducing consistent and shared definitions of this eternally potential asset class. This report is also part of the collective effort that produced the Impact Europe Market Sizing Report and is also a deep dive into the specific reality of the Italian Market in 2022.