Investments that deliver positive social and environmental impact alongside a financial return are on the rise, with the market for impact investing quadrupling between 2015 and 2017 to $5.8 billion, shows a new report from the Responsible Investment Association Australasia.

Green bonds have made a significant contribution to the growth in impact investments ($4.9 billion), while other types of impact investments have also grown rapidly, from $300 million in 2015 to totalling nearly $1 billion in 2017. By number, the majority of impact investments are in private debt, much of which is made up of loans to social enterprises.

The report reveals a diverse market delivering positive financial returns for investors while also benefiting the environment and impacting the lives of tens of thousands of people including: 700 vulnerable families assisted, 369 employment pathways or jobs created; 22,688 students supported; 1069 clients receiving health and well-being services; 2,110,000 tons of CO₂^-e avoided or abated, and 950 megalitres of water delivered to wetlands, creeks and ecosystems.