Cambridge Associates launch Impact Investing: A Framework for Decision Making, a paper outlining a decision-making framework to help investors successfully build impact investing portfolios.
"For the purposes of this paper, we define an impact investment as an investment made in an enterprise (whether a corporation, a non-profit, a government, or some other entity) because that enterprise offers a market-based solution to a social or environmental challenge that the investor wishes to address. The central point of emphasis in this definition is the investor’s intent. In other words, an impact investment is one chosen by an investor precisely because of its ability to generate the particular social and/or environmental returns of interest to that investor."