Can Impact-Weighted Accounting (IWA) help unlock ESG Alpha for investors? : Investment professionals slice and dice risk to generate financial return on invested capital. Sustainable investment capital increasingly demands evidence that positive impact is produced alongside positive financial return. Once adopted by investors, transparent impact metrics will initiate a rotation in portfolios that moves them away from “impact negative” and toward “impact positive” investments. This impact-driven rotation should produce environmental, social, and governance (ESG) Alpha for investors.