ADALTIM project: the Tiresia Research Center drives the evolution of Impact Rating at the European level
The ADALTIM project has officially launched. This initiative aims to develop an Impact Rating platform for European financial markets and companies aimed at developing advanced impact measurement methodologies, capable of overcoming the limitations of the current ESG paradigm, in support of a more solid, transparent and social and environmental change-oriented European financial system.
On May 12, the launch event for ADALTIM (Algorithms and Impact Data LAke for Transformative Impact Management) was held. The project is funded by the European Union’s ESF+ (European Social Fund Plus) program and has been selected by the European Commission as one of eight pilot initiatives aimed at fostering the creation of new Impact Rating agencies. ADALTIM’s goal is to revolutionize the way social and environmental change is measured, communicated and integrated into financial markets and instruments, enhancing the integrity and transparency of the information investors use to allocate capital toward enterprises with strong sustainability profiles and high potential for social impact.
ADALTIM is the result of a collaborative effort involving a consortium of 17 partners from 5 European countries, led by Triadi, a spin-off of Politecnico di Milano, and rooted in the experience of Tiresia, the Research Center for Impact, Innovation, Entrepreneurship, and Finance of the Politecnico di Milano, directed by Professor Mario Calderini. The project aims to develop an independent impact rating model and to establish a new company that will offer the market comprehensive, synthetic and comparable impact rating services based on this model.
Tiresia plays a central role in establishing the scientific and methodological foundations of the entire initiative. Specifically, the center is responsible for designing the impact assessment model through advanced research aimed at overcoming the limitations of current ESG ratings and standards (the three key dimensions — environmental, social, and governance — used to assess and measure the sustainability impact of a company or organization), which often fail to capture and communicate the transformative value of purpose-driven organizations. The goal is to build a rigorous, transparent and scalable methodology that can integrate heterogeneous data sources, meaningful metrics and reliable benchmarks.
The ADALTIM model will be further enhanced through the use of artificial intelligence, machine learning and advanced data analytics, making impact measurement more accessible, comparable and useful to investors, policymakers and other ecosystem stakeholders. The methodological framework is designed to support a credible, transparent and transformative impact finance ecosystem.
Tiresia’s activities within the project are led by the team composed of Mario Calderini, Irene Bengo, Veronica Chiodo and Hazal Kopal from the Department of Management, Economics and Industrial Engineering at Politecnico di Milano.
The ADALTIM consortium brings together partners with complementary expertise, crucial for developing innovative impact measurement methodologies. Alongside Politecnico di Milano and the Tiresia Research Center, the group includes leading academic, research, and training institutions from Italy and Europe: IE Universidad, Politecnico di Torino, Human Foundation, Do and Think Tank per l’innovazione sociale, and Cottino Social Impact Campus.
The project is supported by a broad and diverse group of impact economy stakeholders and investors: Fondazione Compagnia di San Paolo; Fondazione Social Venture Giordano Dell’Amore; Fondazione Opes Lcef Onlus; Fondazione Giovanni e Annamaria Cottino; SEFEA Impact SGR; Phitrust Partenaires; Three Hills; Phenix Capital Group; Diesis Network.
Rounding out the consortium are two external assurance partners, Impact Europe and Copenhagen Business School, and two technical partners, Generation Impact Global and Legance Avvocati Associati.