Thank you for that question. Probably the short answer is, no, I can't do it in just two minutes but I'll do my best.
Impact investing—social finance—is the combination of people investing for social returns and not purely financial ones. It's a market that has been growing internationally as well as here in Canada. A couple of Canadians in fact did a study last year for the Rockefeller Foundation measuring the scope. It's an asset class that is really growing.
In Canada specifically, some of the recommendations being made by key leaders such as the MaRS Centre for Impact Investing, Vancity Credit Union, and the Chantier de l'économie sociale suggest building on the G7 task force on social finance as well as a thought leader group convened by the MaRS Centre for Impact Investing, saying that a first loss capital fund of $250 million dedicated to social investment, which I mentioned, could catalyze a 3:1 matching from private sector investments and could then really have an impact on social infrastructure in the country.
The second angle on it is capacity building. There is an emerging practice. As you say, most people don't understand what it means, but it's how we can classify, how we measure, how we regulate these new asset investment opportunities. There's some work that needs to be done, and the civil society actors on the ground doing that work could be advanced in terms of building that capacity.