Impact investing is evolving amid growing social and environmental challenges, and it is yielding tangible results for investors who are rising to meet them.

Impact investing assets under management grew by a compound annual growth rate of 18 percent between 2017 and 2022, and 88 percent of impact investors reported that impact performance meets or exceeds their impact targets, according to new research released by the Global Impact Investing Network (GIIN).

The two recent reports from GIIN, titled 2023 GIINsight: Impact Investor Demographics and 2023 GIINsight: Impact Investing Allocations, Activity & Performance, surveyed impact investors collectively managing $213 billion — up from $95 billion in 2017. Pension funds accounted for the greatest proportion of investment managers’ capital, followed by family offices, development finance institutions and insurance companies. Investment managers increased their sources of capital from all investo