Towards postitive change

A Theory of Change is a detailed description and illustration of how and why a desired change is likely to happen given a particular intervention. This is a very useful tool for the Fund, as it allows the Fund to consider how the investments which it makes can lead to positive changes.

The Fund formulated its first Theory of Change in 2019 and amended certain elements in 2021 following a limited public consultation. The Theory of Change was developed in conjunction with the Fund’s Environmental and Social Management System and the Fund’s Environmental and Social Principles Statement.


Our Theory of Change (Click here to see the diagram in full page)