In 2023, Hataraku Fund engaged BlueMark to independently verify the Hataraku Fund’s alignment with the Operating Principles for Impact Management (OPIM), which the fund managers signed onto in 2022. 23 This independent verification process focused on assessing the Hataraku Fund’s compliance with the Impact Principles, developed by the International Finance Corporation (IFC), and included interviews with fund managers a review of internal documents, data collection protocols, and impact strategies. In 2024, the Hataraku Fund and GLIN Impact Capital were approached by BlueMark to participate in their global pilot to test an overall rating scale and fund protocol. This assessment evaluated the fund’s alignment with industry standards and best practices, leveraging BlueMark’s proprietary evaluation model. The framework assesses across four thematic pillars: impact strategy, impact governance, impact management, and impact reporting. An overall score is calculated by summing the points achieved across these pillars, expressed as a percentage of the total possible. The overall score determines a rating: Platinum (>75 percent), Gold (51–75 percent), Silver (25–50 percent), or Bronze (<25 percent). Each pillar is also individually rated on a scale of Advanced, High, Moderate, or Low. The Hataraku Fund performance is shown in Figure F below. 24 Overall, the Hataraku Fund outperformed the BlueMark average, both with a Gold rating, but the Hataraku Fund received a higher percentage than the average score. It also exceeded the average in the pillars of impact governance, impact management, and impact reporting. While the fund scored slightly below average in impact strategy, it still achieved a “High” rating in this category. Figure F: BlueMark rating of Hataraku Fund, 2024
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Ten Years in the Making
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