Endnotes

      1. Foley, Stephen. “Impact investing must be more than a buzzword,” The Financial Times, November 1, 2015. Accessed at: http://www.ft.com/cms/s/0/fd5d5a8a- 7e37-11e5-98fb-5a6d4728f74e.html#axzz3qS6fyPQf.
      2. Data taken from PricewaterhouseCoopers/National Venture Capital Association MoneyTree Report.
      3. Goldman, Paula and Lauren Booker. “Parsing Impact Investing’s Big Tent,” Stanford Social Innovation Review, June 10, 2015. Accessed at: http://ssir.org/articles/ entry/parsing_impact_investings_big_tent.
      4. “Maximizing Impact: Values-Based Investing Across the Spectrum,” Merrill Lynch Private Banking and Investment Group, July 2014. Accessed at: http://www. pbig.ml.com/publish/content/application/pdf/GWMOL/PBIG_ARTDTNUR_2015-07.pdf.
      5. “Sustainable Reality,” Morgan Stanley Institute for Sustainable Investing, March 2015. Accessed at: https://www.morganstanley.com/sustainableinvesting/pdf/ sustainable-reality.pdf.
      6. “Impact Investments: An Emerging Asset Class,” J.P. Morgan Global Research, The Rockefeller Foundation, and Global Impact Investing Network, November 29, 2010. Accessed at: http://www.jpmorganchase.com/corporate/socialfinance/document/impact_investments_nov2010.pdf.
      7. “Evolution of an Impact Portfolio: From Implementation to Results,” Sonen Capital in collaboration with The KL Felicitas Foundation, October 2013. Accessed at: http://apsocialfinance.com/wp-content/uploads/2014/11/2013-10-evolution-of-an-impact-portfolio-final.pdf.
      8. “Investing for Social Gain: Reflections on Two Decades of Program-Related Investments,” Ford Foundation, December 1991. Accessed at: http://www.fordfoundation.org/pdfs/library/Investing_For_Social_Gain.pdf.
      9. “Eyes on the Horizon: The Impact Investor Survey,” J.P. Morgan Social Finance and Global Impact Investing Network, May 4, 2015. Accessed at: http://www. thegiin.org/assets/documents/pub/2015.04%20Eyes%20on%20the%20Horizon.pdf.
      10. “ImpactBase Snapshot: An Analysis of 300+ Impact Investing Funds,” ImpactBase Impact Investment Fund Database, April 2015. Accessed at: http://www. thegiin.org/assets/documents/pub/ImpactBaseSnapshot.pdf.
      11. Preston, Caroline. “Getting Back More Than a Warm Feeling,” New York Times, November 8, 2012.
      12. “What are Green Bonds?” The World Bank and the Public-Private Infrastructure Advisory Facility (PPIAF), 2015. Accessed at: http://treasury.worldbank.org/cmd/pdf/What_are_Green_Bonds.pdf
      13. Data for 2015 taken from Climate Bonds Initiative. Accessed at: https://www.climatebonds.net/.
      14. Data taken from the UNEP Finance Initiative and UN Global Compact, “PRI: Principles for Responsible Investment.” Accessed at: http://www.unpri.org/news/pri-fact-sheet/.
      15. Monitor Institute. “Investing for Social & Environmental Impact: A Design for Catalyzing an Emerging Industry,” January 2009. Accessed at: http://monitorinsti-tute.com/downloads/what-we-think/impact-investing/Impact_Investing.pdf.
      16. “Impact Investments: An Emerging Asset Class,” J.P. Morgan Global Research, The Rockefeller Foundation, and Global Impact Investing Network, November 29, 2010. Accessed at: http://www.jpmorganchase.com/corporate/socialfinance/document/impact_investments_nov2010.pdf.
      17. Calvert Foundation. “Gateways to Impact: Industry Survey of Financial Advisors on Sustainable and Impact Investing,” June 2012. Accessed at: http://gateway-stoimpact.org/images/gatewaystoimpact.pdf.

      18. Morgan Stanley, “Investing with Impact: Creating Financial, Social, and Environmental Value,” 2014. Accessed at: https://www.morganstanley.com/assets/pdfs/articles/investing-with-impact.pdf.

      19. Morgan Stanley, Institute for Sustainable Investing, “Sustainable Signals: The Individual Investor Perspective,” February 2015. Accessed at: https://www.morgan-stanley.com/sustainableinvesting/pdf/Sustainable_Signals.pdf.

      20. KPMG International, “The KPMG Survey of Corporate Responsibility Reporting 2013,” January 31, 2014. Accessed at: https://www.kpmg.com/Global/en/Issue-sAndInsights/ArticlesPublications/corporate-responsibility/Documents/corporate-responsibility-reporting-survey-2013-exec-summary.pdf.

      21. “Eyes on the Horizon: The Impact Investor Survey,” J.P. Morgan Social Finance and Global Impact Investing Network, May 4, 2015. Accessed at: http://www.thegiin.org/assets/documents/pub/2015.04%20Eyes%20on%20the%20Horizon.pdf.

      22. “Collins, Margaret and Sangwon Yoon. “BlackRock Targets Idealistic Millenials With Do-Good Investing.” Bloomberg Business, October 12, 2015.

      23. “OPIC Committed $2.7 billion to High-Impact Sectors in 2013,” Overseas Private Investment Corporation, May 30, 2014 [Press Release]. Accessed at: https://www.opic.gov/press-releases/2014/opic-committed-27-billion-high-impact-sectors-2013.

      24. “The People’s Business: State of Social Enterprise Survey 2013,” Social Enterprise UK, 2013. Accessed at: http://www.socialenterprise.org.uk/uploads/files/2013/07/the_peoples_business.pdf.

      25. Data taken from B Lab, “State by State Status of Legislation.” Accessed at: http://benefitcorp.net/policymakers/state-by-state-status.

      26. “ImpactBase Snapshot: An Analysis of 300+ Impact Investing Funds,” ImpactBase Impact Investment Fund Database, April 2015. Accessed at: http://www.thegiin.org/assets/documents/pub/ImpactBaseSnapshot.pdf.

      27. Hayat, Usman. “Do Investment Professionals Know About Impact Investing?” CFA Institute, July 11, 2013. Accessed at: https://blogs.cfainstitute.org/investor/2013/07/11/poll-do-investment-professionals-know-about-impact-investing/.

      28. Rangan, V. Kasturi, Michael Chu, and Djordjija Petkoski. “The Globe: Segmenting the Base of the Pyramid,” Harvard Business Review, June 2011. Accessed at: https://hbr.org/2011/06/the-globe-segmenting-the-base-of-the-pyramid.

      29. “IRIS Data Brief,” Global Impact Investing Network, March 2014. Accessed at: http://www.thegiin.org/assets/binary-data/IRISData_Brief_Beneficiaries_2014.pdf.

      30. “Eyes on the Horizon: The Impact Investor Survey,” J.P. Morgan Social Finance and Global Impact Investing Network, May 4, 2015. Accessed at: http://www.thegiin.org/assets/documents/pub/2015.04%20Eyes%20on%20the%20Horizon.pdf.

      31. Monitor Institute. “Investing for Social & Environmental Impact: A Design for Catalyzing an Emerging Industry,” January 2009. Accessed at: http://monitorinsti-tute.com/downloads/what-we-think/impact-investing/Impact_Investing.pdf.

      32. “From the Margins to the Mainstream: Assessment of the Impact Investment Sector and Opportunities to Engage Mainstream Investors,” World Economic Forum, September 2013. Prepared in collaboration with Deloitte Touche Tohmatsu.

      33. Thornley, Ben. “The Impact Investing Grounds Are Shifting,” The Huffington Post, October 16, 2012. Accessed at: http://www.huffingtonpost.com/ben-thornley/the-impact-investing-grounds_b_1968667.html.

      34. “From the Margins to the Mainstream: Assessment of the Impact Investment Sector and Opportunities to Engage Mainstream Investors,” World Economic Forum, September 2013. Prepared in collaboration with Deloitte Touche Tohmatsu.

      35. “From the Margins to the Mainstream: Assessment of the Impact Investment Sector and Opportunities to Engage Mainstream Investors,” World Economic Forum, September 2013. Prepared in collaboration with Deloitte Touche Tohmatsu.

      36. “Private Capital, Public Good: How Smart Federal Policy Can Galvanize Impact Investing – and Why It’s Urgent,” US National Advisory Board on Impact Investing, June 2014. Accessed at: http://www.nabimpactinvesting.org/.

      37. “Background on the White House Roundtable on Impact Investing: Executive Actions to Accelerate Impact Investing to Tackle National and Global Challenges,” June 25, 2014. Accessed at: https://www.whitehouse.gov/sites/default/files/microsites/ostp/background_on_wh_rountable_on_impact_investing.pdf.