Contributors Acknowledgements Mara Airoldi Director, Government Outcomes Lab, Blavatnik School of Government, University of Oxford Andrew Baird Managing Director, Education for Employment (EFE) Peter Beez Senior Policy Adviser, Swiss Agency for Development and Cooperation (SDC) Alexandra Blain Head, Impact Bonds Structuration Team, BNP Paribas Isis Bous Managing Director, Lex Mundi Pro Bono Foundation Christian Brändli Head, Private Sector Development, SECO Wirtschaftliche Zusammenarbeit und Entwicklung Mario Calderini Professor, Strategy and Innovation Management, Politecnico Di Torino Eleanor Carter Academic Co-Director, Government Outcomes Lab, Blavatnik School of Government, University of Oxford Milena Castellnou Chief Programs Officer, Education Outcomes FundHee-Jin Cho Principal Researcher, Center for Social Value Enhancement Studies Delton Chen Founder, Global Carbon Reward Dhun Davar Head, Social Impact and Philanthropy India and Middle East, UBS Optimus Foundation Janis Dubno Managing Director, Sorenson Impact Institute Facundo Etchebehere Senior Vice-President, Sustainability Strategy and Partnerships, Danone Nicola Galombik Executive Director, Yellowwoods Martina Gaus Head, Strategic Partnerships, UBS Optimus Foundation Avnish Gungadurdoss Managing Partner and Co-Founder, Instiglio Cynthia Hansen Managing Director, Innovation Foundation, Adecco Group Lead authors Alejandro Alvarez von Gustedt Vice-President, Rockefeller Philanthropy Advisors Patrick Briaud Principal, Rockefeller Philanthropy Advisors Gayoung Imm Associate Principal Researcher, Center for Social Value Enhancement Studies Myung-Eun Jeong Head of Design Lab, Center for Social Value Enhancement Studies Ankie Ng Founder and Managing Partner, Shifted Susan de Witt Doctoral Candidate, University of StellenboschWorld Economic Forum François Bonnici Head, Foundations Daniel Nowack Head, Social Innovation, Schwab Foundation for Social Entrepreneurship Redefining Value: From Outcome-Based Funding to Tradeable Impact 29

Redefining Value From Outcome Based Funding to Tradeable Impact 2025