Redefining Value From Outcome Based Funding to Tradeable Impact 2025

The social and environmental challenges of our time are growing increasingly complex and interdependent, demanding solutions that move beyond traditional philanthropy or compliance- driven efforts. A new paradigm is needed to connect measurable social outcomes with financial value. This would enable impact to be both recognized and rewarded at scale, contributing to a thriving, inclusive future. Over the past decade, social entrepreneurs have shown us what’s possible in this area, designing grassroots community currencies (such as the South African Zlto) that reward social impact creation. What if we could scale these initiatives to transform positive social outcomes into tradeable assets and to enable market-based mechanisms that accelerate progress on pressing social issues? Building on the progress of social entrepreneurs within their communities and the global success of outcome-based funding (OBF) mechanisms in international development and social entrepreneurship, this paper explores how stakeholders – corporates, governments and investors alike – can design markets that recognize, quantify and reward verifiable social outcomes. Drawing on practical examples – including Social Progress Credits (SPCs), Zlto and the Common Good Marketplace (CGM) – it offers a blueprint for how verified social impact can be embedded into a dynamic new marketplace. In doing so, it charts a path towards more sustainable, accountable and inclusive systems of value creation. If we work together to rethink our economic foundations, we can reshape how we align purpose and profit. By integrating social impact into business models, investment strategies and policy frameworks, we can unlock new sources of capital, strengthen resilience across sectors and accelerate innovation for the public good. Developed collaboratively by the Schwab Foundation for Social Entrepreneurship, SK Group’s Center for Social Value Enhancement Studies (CSES) and Rockefeller Philanthropy Advisors, this paper serves both as a source of inspiration and a practical guide – an invitation to reimagine what is possible when impact becomes tradeable. Through collaboration, bold thinking and shared commitment, we can help build a more equitable economy – one where doing good and doing well are not at odds, but mutually reinforcing goals. ForewordRedefining Value: From Outcome-Based Funding to Tradeable ImpactJune 2025 Nicole Campbell Co-Chief Executive Officer and President, Rockefeller Philanthropy AdvisorsChey Tae-won Chairman and Chief Executive Officer, SK Group Redefining Value: From Outcome-Based Funding to Tradeable Impact 3