Recent EU regulations governing social and environmental investments mark a revolution in impact investing. With the vast majority of inclusive finance funds being based in Europe (largely in Luxembourg), the impact of these regulations will have a downstream impact on every investee in these funds’ portfolios – i.e. nearly every major FSP in the sector, and every stakeholder in between, from rating agencies to TA providers to national microfinance associations. This presents both a challenge and an opportunity. The challenge is in implementing new reporting protocols, many of which have been designed with large (multinational) corporations in mind – not smallholder farmers in the South. But there is also an opportunity to build better sustainability metrics with even more relevance to the sector, and the potential to prove – and improve – our social and environmental impact.