Impact Institute's Global Impact Database (GID) was launched in 2019 to help organisations understand and make decisions based on a wide range of economic, social, and environmental impacts.
The GID incorporates several data sources, including global databases, trade and emission data, crop data, impact factors and monetisation factors.
In the period under review for the awards, the GID was utilised for ABN AMRO's first Biodiversity Impact Report and its fourth Impact Report.
GID data helped ABN to build an impact measurement and reporting foundation and extend their impact measurement to include biodiversity data and year-on-year comparisons.
According to ABN AMRO, the coverage of impacts and value chain data available in the GID has helped ABN AMRO to cover 95% of all the bank's activities in terms of internal impacts and 80% in terms of external impacts in its impact report.
GID biodiversity impact estimates are expressed in monetary units, helping the bank to compare different sustainability topics and position non-financial impact within a business context.
"The ABN AMRO biodiversity impact assessment represents a great example of the power of the global impact database, showing hotspots, material impact areas and the underlying impact drivers. A big step forward for measuring, reporting and managing impact," said Arjan Udding, head of sustainable finance at Impact Institute.
The GID has also been used to develop a proxy dataset for difficult-to-find Principal Adverse Impact (PAI) indicators for non-listed companies, to help financial institutions meet the EU's Sustainable Finance Disclosure Regulation (SFDR) reporting requirements.
The GID PAI proxy data has been used by the asset manager Triodos Investment Management and Innpact, an impact advisory fund management organisation.
"We are truly proud to see our Global Impact Database receiving this accolade," said Adrian de Groot Ruiz, director and co-founder of Impact Institute. "In the past 10 years, we have worked towards the dream of an impact economy where organisations have easy access to impact data to measure, value, and manage impact in their daily work.
"This recognition is a step towards making our impact data a vital tool to effectively bring sustainable finance into practice and make impact an integral part of everyday business."
In early 2023, Impact Institute will release an asset-level dataset to measure natural and social impacts for specific companies, including biodiversity impact.
Impact Institute is a social enterprise, founded in 2012, to develop methods and tools to measure and monetise impact.