# kaal:claim:4685567-032

**Claim.** Impact certificates let businesses offset engagements that are non impact or publicly perceived as non impact, and Kaal gives the example of the tobacco industry investing in a lung cancer impact certificate to offset its contribution to lung cancer.

**Type.** design  **Support.** asserted

**Holds when.**

- businesses seeking to demonstrate social impact
- ESG and brand value motivations

**Source quote.**

> For example, the tobacco industry could invest in a lung cancer impact certificate to offset their contributions to lung cancer.

**From.** Wulf A. Kaal, *Impact Investing Innovation - From Impact 1.0 to 3.0* (2024), Scaling Impact 3.0, page 51

**Cite as.** Wulf A. Kaal, Impact Investing Innovation - From Impact 1.0 to 3.0 (2024). SSRN: https://ssrn.com/abstract=4685567

**Verify.** sha256 of source PDF `87fb1be89d2661967ed2b0b673fe26448ded3bc3119b122177a4fc13ae5c085c` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20-%202024%20-%20Impact%20Investing%20Innovation%20-%20From%20Impact%201.0%20to%203.0.pdf

**Topics.** institutional-design

**Keywords.** offsetting, esg, corporate-impact, impact-certificates, brand-value

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