Date: 2024-04-20 Page is: DBtxt001.php txt00002982
Initiatives ... Socieal Impact Bonds
Betting on public good?
AJStream examines private investment in public services through social impact bonds.
COMMENTARY
This is a very timely story ... thank you AJE and AJStream. The money profit capital market system has demonstrated in the last few years that it has tremendous weakness and I would argue the problem is not the market but the metrics. If money and profit are the primary metric then the game will be played with this as the goal. If the metrics also include social impact or social good, then the game will be played in a very different way. Peter Burgess @TrueValueMetric
Peter Burgess
Betting on public good?
We examine private investment in public services through social impact bonds.
When private businesses invest in social services, is it an ethical investment or commercial philanthropy? We examine Social Impact Bonds.
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Administrative segregation prisoners take part in a group therapy session at San Quentin state prison in California, June 8, 2012. [REUTERS/Lucy Nicholson]
A new financing model called a Social Impact Bond (SIB) is changing the way governments typically provide and fund social services. Instead of funding programmes from taxpayer money, governments form contracts with private investors willing to finance the services. Some call it an 'ethical investment' while others say it's commercialising philanthropy.
Recently, Goldman Sachs has pledged to invest $9.6 million to the New York City government to keep young men out of one city jail. If it works, Goldman Sachs profits. If it fails, they may lose $2.4 million. Do SIBs help create a better society?
In this episode of The Stream, we speak to Kristina Costa (@slashklc) of the Center for American Progress, Daniel Stid (@Daniel_Stid) of the Bridgespan Group, and Toby Eccles (@socfinuk) of Social Finance.
What do you think? Are social impact bonds an ethical investment or commercialised philanthropy? Send us your thoughts and comments on Facebook or Twitter using #AJStream.
An introduction to Social Impact Bonds
Published on May 15, 2012 by mckinseyonsociety
For more information, please read McKinsey & Company's report, 'From Potential to Action,' which assesses the opportunity for social impact bonds in the U.S. and is the result of 12 months of research and analysis.
http://mckinseyonsociety.com/social-impact-bonds
The Social Impact Bond launch at Peterborough prison 2010Be Inspired Films
americanprogress.orgAJstream
Social Impact Bond Pilot launchedministryofjusticeuk
Last week, the US state of New York announced that it will embark on a similar SIB with Goldman Sachs. The $9.6 billion SIB will aim to reduce re-incarceration rates at Rikers Island prison over four years. If the drop in re-incarceration rates is greater than 10 per cent, Goldman Sachs will earn a profit. The bigger the drop, the more Goldman Sachs will earn on their investment.
Rikers IslandAJstream
GoldmanSachsAJstream
Social Impact Bonds Webinar Q&A
mckinseyonsociety
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Published on May 23, 2012 by mckinseyonsociety
On May 15, 2012, McKinsey hosted a webinar to discuss the launch of a new report, From Potential to Action: Bringing Social Impact Bonds to the U.S. The panel was moderated by the Washington Post's Matt Miller and included report co-author Laura Callanan, McKinsey & Company, Tracy Palandjian, Social Finance, Inc., and Jeffrey Liebman, Harvard University.
There is considerable buzz in the United States about whether Social Impact Bonds, a new 'pay for success' model of financing social solutions currently being piloted across the Atlantic, could work on American soil.
For more information on the report, please visit: http://mckinseyonsociety.com/social-impact-bonds/
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Nonprofits & Activism
While reducing the re-offending rates of prisoners has been a major niche area for SIBs, many are discussing using the embryonic concept in other areas as well. Some other potential areas are chronic homelessness and healthcare.
Social Impact Bonds Webinar Q&Amckinseyonsociety
Social Impact Bond London Conference 17.3.11 - Toby Eccles (Financing social outcomes)beinspiredfilms
Big Society CapitalBe Inspired Films
Many however, are still skeptical about SIBs for various reasons. Information about the likely risks and rewards are scant, and there are major challenges in measuring and quantifying outcomes. Other critics have expressed concerns with the notion that SIBs could enable taxpayer money to end up in the hands of private investors.
Social Impact Bond London Conference 17.3.11 - Toby Eccles (Financing social outcomes)
beinspiredfilms
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Uploaded by beinspiredfilms on Mar 24, 2011
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Social Impact Bond Pilot launched
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Uploaded by MinistryofJusticeUK
on Sep 16, 2010
Justice Secretary Ken Clarke visits HMP Peterborough ahead of the launch of the Social Impact Bond pilot on 10 September.
Colin Hutchison and Ken Clarke explain the Social Impact bond and St Giles Trust mentor Cecil explains his role with the Social Impact Bond pilot in Peterborough prison.
For more information: http://www.justice.gov.uk/news/announcement100910a.htm
The Social Impact Bond launch at Peterborough prison 2010Be Inspired Films
americanprogress.orgAJstream
Social Impact Bond Pilot launchedministryofjusticeuk
Last week, the US state of New York announced that it will embark on a similar SIB with Goldman Sachs. The $9.6 billion SIB will aim to reduce re-incarceration rates at Rikers Island prison over four years. If the drop in re-incarceration rates is greater than 10 per cent, Goldman Sachs will earn a profit. The bigger the drop, the more Goldman Sachs will earn on their investment.
Rikers IslandAJstream
GoldmanSachsAJstream
While reducing the re-offending rates of prisoners has been a major niche area for SIBs, many are discussing using the embryonic concept in other areas as well. Some other potential areas are chronic homelessness and healthcare.
Social Impact Bonds Webinar Q&Amckinseyonsociety
Social Impact Bond London Conference 17.3.11 - Toby Eccles (Financing social outcomes)beinspiredfilms
Big Society CapitalBe Inspired Films
Many however, are still skeptical about SIBs for various reasons. Information about the likely risks and rewards are scant, and there are major challenges in measuring and quantifying outcomes. Other critics have expressed concerns with the notion that SIBs could enable taxpayer money to end up in the hands of private investors.
AJStream ... by AlJazeeraEnglish
Published on Aug 10, 2012
The text being discussed is available at
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