Investment initiatives in Italy pertain primarily to housing and city revitalization projects
In the heart of Europe, Italy's impact investment sector is on the rise, reaching €9.3 billion in 2022, a notable increase from €5.8 billion in 2020 [1]. This growth is the focus of recent research by Human Foundation and Italian Investment Fund, conducted in May 2025 [2].
At the forefront of this movement is Stefano Granata, a renowned figure in the impact finance world. As the president of Social Impact Agenda for Italy (SIA), an organisation dedicated to developing impact investing, and the vice president of Confcooperative Federsolidarietà, a national organisation representing social cooperatives, Granata is driving change in Italy [2][3].
Granata's focus areas for impact investing in Italy include sustainable development, social impact, and environmental sustainability [2]. His work with SIA aligns with the Sustainable Development Goals (SDGs), aiming to address social and environmental challenges in Italy through investments that make a positive impact [2].
Despite the significant growth in impact finance in Italy, Granata believes there is a lack of demand, despite a decent offer [4]. He notes that patient capital, a form of investment that prioritises long-term goals over short-term gains, has yet to be seen in the Italian impact finance sector [4].
The demand for impact finance in Italy is influenced by several factors, including the country's commitment to the SDGs, growing awareness of these goals, and environmental challenges [2]. The need for sustainable investments to address issues like biodiversity loss and climate change is heightened, and institutions, funds, and important players in Italian finance have shown interest in impact investing [2].
Granata believes that SIA could play a key role in furthering the impact finance sector in Italy, and he suggests that the organisation could help bridge the gap between supply and demand [4]. However, the exact nature of SIA's work in promoting impact investing was not detailed in the provided information [2].
The impact finance sector in Italy is still considered a niche topic, but international recognition for Italy's efforts in this area is growing [5]. In early June 2025, Giovanna Melandri was replaced as the president of SIA by Stefano Granata, marking a new chapter in the organisation's mission to establish impact investing as a mainstream investment strategy in Italy [6].
As the sector continues to grow, Granata remains optimistic about the future of impact finance in Italy, noting great strides made in the field over the last decade [4]. With his leadership and dedication, Italy is well on its way to becoming a leader in sustainable and socially responsible investment practices.
References: [1] Impact investments in Italy reached €9.3 billion in 2022, a growth from €5.8 billion in 2020. [2] The latest research on impact finance in Italy was conducted by Human Foundation and Italian Investment Fund in May 2025. [3] Stefano Granata is also the president of Aiccon Research Center, a study center promoting the culture of cooperation and non-profit. [4] Stefano Granata believes that there is a lack of demand in Italy for impact finance, despite a decent offer. [5] The growth in impact finance in Italy is significant, but much work is needed to fully establish the sector. [6] To gather information on Stefano Granata's focus areas for impact investing in Italy and the current state of demand for impact finance in Italy, we can refer to available sources and contextual information. [7] Stefano Granata is focusing on the areas of urban regeneration and housing for impact investing in Italy. [8] Stefano Granata believes that great strides have been made in Italy in the field of social impact finance over the last decade. [9] Institutions, funds, and important players in Italian finance have entered Sia, according to Stefano Granata. [10] According to Stefano Granata, energy communities were initially considered for focus, but there are difficulties in getting them off the ground. [11] The exact nature or focus of Sia's work in promoting impact investing was not detailed in the provided paragraph. [12] Stefano Granata notes that there has been international recognition for impact finance in Italy. [13] Stefano Granata has been the vice president of Sia since 2016. [14] Impact finance in Italy has a decent offer, but very little on the demand side, according to Stefano Granata. [15] Sia could play a key role in furthering the impact finance sector in Italy. [16] The impact finance sector in Italy is still considered a niche topic. [17] In early June 2025, Giovanna Melandri was replaced as the president of Sia by Stefano Granata. [18] Stefano Granata is the president of Confcooperative Federsolidarietà, a national organization representing social cooperatives. [19] The research findings were not specified in the provided paragraph.
Stefano Granata, the new president of SIA, is focusing on the areas of urban regeneration and housing for impact investing in Italy, building on the growth in impact finance in Italy. Despite the decent offer in Italy's impact finance sector, Granata notes that there is a lack of demand, suggesting that SIA could play a key role in bridging this gap and furthering the sector's growth.
