Agents for Impact Sustainability Alignment Rating (AFISAR©) Tool

In response to an increased demand for impact measurement, we have been developing the Agents for Impact Sustainability Alignment Rating (AFISAR©) Tool since 2017 to assess an MFI’s sustainability performance based on the SDGs. Our Rating Tool analyses an MFI’s operations (at institutional and portfolio level) based on a comprehensive set of social, environmental and governance indicators. AFISAR© helps MFIs to leverage the increased importance of a strong sustainability performance, also vis-à-vis international investors and, particularly, impact investors.

Furthermore, the results of our AFISAR© Tool serve as a starting point for guidance and active dialogue with the rated institution in order to further strengthen the sustainability performance (impact management). Within our operations we aim to integrate sustainability expertise with regulation. Launched in 2019, we have already rated a broad series of microfinance and MSME finance institutions in India, Central Asia, Eastern Europe and the Caucasus.

Key characteristics of our Tool – We make impact:

  • Measurable through a set of integrated, sector-specific indicators
  • Assessable based on regional benchmarks
  • Quantifiable per single SDG and overall AFISAR© Result
  • Comparable to other market peers
  • Transparent through a detailed rating report and optional management workshop
  • Manageable through detailed insights, evidence-based guidance and active dialogue

How our partners benefit:

  • Detailed analysis of the status-quo of sustainability performance based on the SDGs
  • Guidance on how to improve the sustainability performance, identify strengths & weaknesses and compare to other MFIs
  • Holistic approach combining environmental, social and governance (ESG) indicators
  • Combination of both quantitative & qualitative data at portfolio and institutional level
  • Research on market benchmarks and substantiation & validation ensure data quality

Target group:

  • Microfinance and MSME finance institutions
  • Impact Investors and Asset Managers seeking impact measurement of their investments

To obtain further information about AFISAR© and packages available, please feel free to get in touch with us at