ABSTRACT
Social impact investing is an investment philosophy in which investors make profit-seeking investments into programs or initiatives that claim to be creating positive environmental or social benefits for society. In the period roughly coinciding with the aftermath of the 2007–2008 global financial crisis, social impact investing has expanded in capital investments and political influence. Social impact investing is also a powerful ideology, in which elite actors profess good intentions as justifications for their investment actions. The landscape of what is considered a social impact investment varies by audience, but is generally considered to be any blend of profit and humanitarian goals. The use of private capital to pursue social goals, of course, predates the term “social impact investing.” Initially, government interest in social impact investing was focused on so-called “payment for results” projects, such as social impact bonds that rewarded private service providers for increasing the social efficacy of public systems like criminal justice.
