IFC：2025年释放社会与环境影响力：清洁炊事、分布式可再生能源与小型农业企业领域的结果导向型融资研究报告

Unlocking SocialandEnvironmental Outcome-based Finance in Clean Cooking,Distributed Renewable Energy, and Small-Scale Unlocking Social This Explainer accompanies IFC’s new reportUnlocking Social and EnvironmentalImpact: Outcome-based Finance in Clean Cooking, Distributed RenewableEnergy, and Small-Scale Agribusiness. This report explores the potential of The purpose of this document is to help readers understand the core messages ofthe report and apply its insights. It explains what outcome-based finance is, how The Explainer includes the following sections: 1. Understanding Outcome-based Finance2. Investment in Underfinanced Sectors through Outcome-based Finance3. Market Infrastructure for Outcome-based Transactions4. Motivations of Outcome Buyers in the Voluntary Carbon Market5. Challenges in Scaling Outcome-based Finance in the Voluntary Carbon Market I. Understanding Outcome-based Finance other established credits, like carbon credits. Socialcredits can be independent credits, or they can be 1.What is outcome-based finance? Outcome-based finance is a structure where funding is tiedto the achievement of pre-agreed outcomes. It’s 4.Who are the key actors involved in outcome-based finance? The key players include serviceproviders that sell outcomes (e.g., companies orNGOs), buyers (e.g., governments, foundations,or corporations), and independent verification 2.What is an outcome credit?An outcome creditis an outcome that has been quantified, verified, 3.What is a social outcome credit?A socialoutcome credit refers to a credit that monetizessocial outcomes, like improved health, 5.What is an outcome market?An outcomemarket is where service providers sell credits tobuyers, often via brokers or other intermediaries. interests of the service providers, who are sellingthe outcomes, and the outcome buyers, who are 7.How does outcome-based finance differfrom traditional financing models?Traditionalfinancing provides money upfront based on theexpected development outcomes or financial 6.Why is outcome-based finance important? Outcome-based finance can increase the flow ofinvestment into areas where traditional fundingis scarce or the perceived risk is high, including II. Investment in Underfinanced Sectors 2.How can outcome-based finance be used toincrease investment into these sectors?Sectorslike clean cooking, distributed renewable energy,and small-scale agribusinesses often struggle forfunding because they are seen as risky. Outcome- 1.What types of social and environmentaloutcomes can be sold and purchased in clean Outcomes that can be turned into credits that can be -Clean cooking1:cleaner air, better health, emissionsreductions, and gender equality. -Distributed renewable energy:cleaner energy, improved safety, better health, and improvedlivelihoods. III. Market Infrastructure forOutcome-based Transactions diverse investments, providing funding for awider range of projects, and ensuring that socialand environmental impacts are recognized and 1.What are the market mechanisms for outcome-based finance?The Voluntary CarbonMarket is well-established and is where carboncredits are traded.2The standalone ‘SDG Outcomes 3.What are aggregation mechanisms and how can they support outcome-based finance?Within outcome-based finance, aggregationmechanisms include digital platforms or 2.How does a separate SDG Outcomes Marketdiffer from the Voluntary Carbon Market, andwhat are its potential benefits?The VoluntaryCarbon Market deals primarily with carbon credits, IV. Motivations of Outcome Buyers 1.What motivates outcome buyers to engagein outcome-based finance?Outcomebuyers in the Voluntary Carbon Marketare motivated by multiple factors, such asportfolio diversification, trade volume, the environmental co-benefits (like gender equality)can command a price premium driven by theperceived quality of the credit. However, the 3.Are buyers willing to pay more for creditsthat demonstrate social or environmentalco-benefits? Yes, there is evidence that somebuyers are inclined to pay a higher price for 2.How does the presence of social orenvironmental co-benefits influence the V. Challenges in Scaling Outcome-based 2.What are the key challenges for serviceproviders or project developers?Developingprojects in the Voluntary Carbon Market is costly,requiring feasibility studies, documentation,registration, and ongoing verification. Without 1.What are the key challenges for outcome buyers?Buyers worry about the integrity of carbon credits and the risk of greenwashing, which can decrease trust in the market. Regulatory uncertainty makes buyers hesitant toengage in transactions. Furthermore, there is nouniversal way to define and measure social and VI. Potential for a Standalone SDGOutcomes Market Market architectureto link demand and Sellers willing and ableto generate and verify Buyers willing topurchase SDG outcomes 4.Is there a market structure to connect buyersand sellers?There is no e