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Initially addressing the hypocrisy of foundations whose values were ignored in the investment committee's choices, impact investing was considered to be concessionary: impact first and only partially concerned about financial returns.
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Mr Black also pointed to research by the Scottish government and the national authority, Transport Scotland, which said concessionary travel has had only a limited impact on preventing isolation among the elderly, improving health and reducing car use.
But to get from here to there requires motivated policy makers, financial institutions, impact investors, and others to pony up concessionary capital, sweat equity, and time to jumpstart clean energy in these markets.
The Special Commissioners (an appellate body for income tax claims), ruling in favour of Hart, noted that not only was the school not full to capacity, with the teachers' children having no impact on waiting lists, but that the "concessionary fee" covered all costs incurred by the school in the course of educating those particular pupils.
"Impact Investing" is another label that we need to watch closely since it could range from philanthropy or concessionary investing to high return investments with social and/or environmental benefits.
For these clients, Morgan Stanley is weighing a customized approach to matching investments and values, likely carving out small parts of a portfolio for targeted impact investing, and is evaluating donor-advised funds as a logical place for impact investments that offer a concessionary return.
But concessionary oil sales are a familiar tradition in Latin America.
But on at least one matter, Mr. Curto was not in a concessionary mood.
Instead they declare enthusiasms such as curbside paper collection, library reorganisation and concessionary bus fares.
"It was concessionary bargaining right from the beginning," Shane Doan of the Phoenix Coyotes said.
"Particularly for low-income countries, concessionary sources are absolutely necessary," he said in an interview.
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