New impact report on EU vs US Impact Investing Market


For a global impact investing market that the GIIN estimated at $1.164 trillion in 2022, looking at all the Phenix Impact Database metrics, there is no doubt that there is a clear US-European divide.

Perhaps the starkest difference is in number of funds dedicated to, and assets invested in, impact in the public equity markets, which stands at 71% and 86%, respectively. There are likely to be a number of potential reasons for this.

Culturally, European investors see financial inclusion as an important part of being a developed world and, as such, are often willing to accept a marginally reduced rate of return to achieve social and environmental goals.

Meanwhile, Americans are big philanthropists. The global philanthropy market was estimated to be £182 billion, according to Barclays Philanthropy Outlook 2021, with the UK giving £11.3 billion in 2020, and US charities receiving $499.33 billion in 2022.

Report Highlights from our impact database:

  • 33% more EU funds than US funds
  • 44% more European impact investors than US impact investors
  • 71% more public equity funds in Europe compared to the US
  • 86% more allocated to public equity by European vs US investors
  • 58% of the US fund universe are private equity funds compared to 42% for European funds
  • 62% more assets raised by European vs US private equity funds
  • 88% more public equity assets raised by European funds vs US ones

Download the report (pdf) on request

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