Chapter 15: Impact Investing: An Evolution of CSR or a New Playground?

Impact investing is the new buzzword. The concept, proposed for the first time by the Rockefeller foundation back into 2007/2008, immediately attracted the interest of donors, financial institutions, and governments. Both the G8 and the World Economic Forum launched initiatives on this issue; the United Kingdom and the United States governments and the European Union (EU) have allocated resources to develop the nascent industry.

However, until now, impact investing lacks a clear definition and it is often mixed up with other related concepts: socially responsible investing, social investing, sustainable and responsible investing, blended value, values-based investing, triple-bottom line, mission-related/mission-driven investing, ethical investing, program related investing (Robeco, 2009).