RIAA’s Responsible and Ethical Investment Spectrum maps out the various approaches to responsible investing, their similarities, differences and areas of focus. For example, while some responsible investment approaches are oriented around managing environmental, social and governance (ESG) risks, other approaches focus more on pursuing ESG opportunities.  While most responsible investments will target market-rate financial returns, some impact investments will intentionally deliver below market-rate returns in order to maximise the social or environmental impact. The Spectrum also highlights the intentionality that different responsible investment strategies demonstrate towards ‘impact’ such as whether they focus on avoiding harm to society and the environment, or actively contribute to positive solutions for underserved people or the planet. Please note that this Spectrum is only intended as a guide to understanding different responsible investment approaches and their features and that the boundaries defining each strategy are not set in stone, open to varying definitions, interpretations and executions.