The authors argue that the corporate world and the world that it serves are ready for the next evolution of corporate virtue: 'virtuous capital'. Annual budgets and sustainability reports provide some hints about a company's true character, they say, but there is something that is far more telling: capital commitments. They show how 'virtuous capital', as indicated on a balance sheet, speaks volumes as to a firm's long-range commitment to making the world a better place. They provide four avenues for leaders to focus on going forward, including risk reallocation, different forms of ownership and government incentives.

Impact investments-those that seek a specific social or environmental impact alongside financial returns-continue to grow rapidly. As investor interest grows, many investment firms are building capacity in this area. The author argues that in a world of low interest rates and a desire to increase returns and decrease uncertainty, real assets-investments in real estate or infrastructure projects such as low-cost rental housing and seniors' facilities-are a great starting place to try out impact investing.

Increasingly, it is possible to generate financial returns alongside positive social and environmental impact. This is the promise of an emerging investment approach called 'impact investing' that is gaining the attention of pioneering investors: big institutions, foundations and high net-worth individuals are moving quickly into this new market. However, in order to succeed, the authors say, impact investing must grow beyond these pioneers and reach a broader set of investors. They show what needs to happen by walking through Everett M. Rogers' five attributes of successful innovations: relative advantage over alternatives; compatibility with the values, experiences and needs of adopters; simplicity; trialability; and visibility. If impact investing can address its barriers-to-adoption, they conclude, it will be one of the breakthrough innovations of our time.