IFB ambition
From 14% to 30%.
IFB aims for 30% of Belgian assets under management to be invested with positive impact by 2030.
2030 ambition: around 27% sustainable investing and 3% impact investing. This is a target, not a forecast.
Belgium, in impact.
How big is the market? Where does the capital go? Explore the figures behind impact finance in Belgium.
Read the landscape reportThe Belgian market
Investing with positive impact.
€108–132B
invested with positive impact in Belgium
14%
of Belgian assets under management
Belgian Landscape 2025 · estimated range
Two parts of the market
Sustainable investing
€101–123B
13%of Belgian assets
Impact investing
€7–9B
1%of Belgian assets
Total Belgian assets under management€765–935B
Impact investing (1%)Sustainable investing (13%)Other assets (86%)
€765-935bn total AuM
13%
86%
AuM means assets under management. Amounts are estimates; ranges are kept as published.
01 / Outlook and ambition
The ambition. The outlook.
Investor expectations
57% expect growth.
Most surveyed market participants expect continued expansion. Others expect stability or decline.
- 57% Expect expansion
- 29% Expect stability
- 9% Expect decline
- 5% not assigned
Reported annual growth
Compound annual growth rate (CAGR). Periods and markets differ.
02 / Capital in practice
Where impact takes shape.
The sectors investors target, the organisations providing capital, and the regions their investments reach.
The sectors investors target.
Agriculture leads, followed by technology and financial inclusion.
Investors can target more than one sector. These shares are not a split of invested capital.
Belgian Landscape 2025Who provides the capital.
Estimated impact investing assets by investor type.
VC / PE fund managers
Banks & institutional
Public financing
Other (family offices, pension funds, ...)
Foundations
Insurance
The pale end of each bar shows the estimated range. Survey estimates await final source review.
Belgian Landscape 2025Geographic focus
Across Europe.
Beyond Europe.
Sustainable investment stays largely within Europe. Almost half of impact capital has a worldwide focus.
BelgiumEuropeWorldwide
Sustainable investing
22%
68%
10%
Impact investing
9%
44%
47%
Aggregate survey shares. Geographic estimates await final source review.
Belgian Landscape 202503 / Context
Read the figures in context.
Two studies, different ranges.
The 2022 study estimated €6–16 billion in impact investments. The 2025 estimate is €7–9 billion. Definitions changed, so these ranges do not establish a growth rate.
IFB membership
A growing movement.
From eight founding members to 45 at the end of 2024.
Historical membership figures from the annual reports. See the directory for the current network.
Explore the current network04 / Sources & methods
Go back to the evidence.
Every figure links to IFB research. Estimates retain their published ranges and reporting periods.
Draft dashboard. Figures compiled from IFB reports and pending final review before publication.
