UK leads the way in social investment
BDaily, by Tom Keighley
The UK leads the way in effective social investment policy that is informing the debate in other countries, suggests a piece of research from the University of Oxford.
The report, entitled: ‘The Social Investment Market: The role of public policy in Innovation and Execution’ highlights the role of Social Impact Bonds, the Big Society Capital, and the Social Outcomes Fund.
Arising from a symposium established by the Sa¿d Business School and the Cabinet Office’s Centre for Social Impact Bonds, the report looks at emerging social investment products and opportunities.
Minister for Civil Society, Nick Hurd, said: “Social impact bonds are a UK innovation that is being applied by governments all over the world, as they strive to procure services in a way that aligns financial and social incentives for governments, service deliverers and private investors.
“We remain committed to sharing the fantastic work developed through ongoing collaboration between the Government, social purpose organisations and the social investment community and look forward to progressing this through the UK’s presidency of the G8.”
Dr Alex Nicholls, University Lecturer in Social Entrepreneurship at Saïd Business School, University of Oxford, commented, “The discussions we began at the Symposium have been instrumental in drawing together those involved in social investing and promoting the sharing of best practice.
“Of particular importance has been our discussion of the new contracts and structures that help to align the incentives of all stakeholders to scale-up welfare interventions, focused on early intervention and prevention.
“There is increasing momentum in the sector as new coalitions are forming across civil society delivery partners, and new thinking is emerging, both of which will drive growth and development in the sector.”
Read the full report here. This week it’s a Third Sector focus on Bdaily. We’ll be featuring more opinion and comment from the experts, and interviews with key actors who provide their take on the current state of the sector.