The term "Impact Investing" is a buzzword phrase that essentially means that any dollar spent creates an effect. A butterfly effect, if you will. Even the dollar not spent creates an effect.
In this way, it is similar to following ESG (environmental, social and governance) guidelines for a "good" business, though it is less studied of a phenomenon. Social impact investing is the idea of spending money in ways that help the community as a whole.
Finland is a great example of this. Sitra Impact Accelerator is hosting talks about this term. More information is available on Arctic15, a two-day conference that focuses on real business value.
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The Guardian has compiled a list of responses to its latest open thread, and has announced the winner of the social enterprise gift hamper packed with presents.