Ask someone at TBLI 2013 for a definition of impact investing and you’re unlikely to get the same answer. Berry Kennedy listens to another part of the long conversation defining the impact investment field. There must be “clarity between philanthropy, CSR and investing efforts. They are not all impact investments,” stressed Ximena Escobar de Nogales, head of social performance management at Bamboo Finance, an inclusive-finance private equity firm. It was a bold opinion in a presentation to a room full philanthropists and corporate representatives who consider their work to be exactly that: impact investing.