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A Social Impact Bond, also known as a ''Pay for Success Bond''〔(【引用サイトリンク】title=Social Benefit Bonds )〕 or a ''Social Benefit Bond''〔(【引用サイトリンク】title=Performance bonds: Who succeeds gets paid - The Economist )〕 , is a contract with the public sector in which a commitment is made to pay for improved social outcomes that result in public sector savings. The term was originally coined by Geoff Mulgan, Chief Executive of the Young Foundation.〔http://www.socialfinance.org.uk/sites/default/files/SIB_report_web.pdf〕 The first Social Impact Bond was launched by Social Finance UK〔(【引用サイトリンク】title=Social Finance - Homelessness )〕 in September 2010. Social Impact Bonds are a type of bond, but not the most common type. While they operate over a fixed period of time, they do not offer a fixed rate of return. Repayment to investors is contingent upon specified social outcomes being achieved and therefore in terms of investment risk Social Impact Bonds are more similar to that of a structured product or an equity investment.〔http://www.socialfinance.org.uk/downloads/SIB_report_web.pdf〕 In developing countries, a Development Impact Bond (DIB) is a variation of the SIB model that would provide new sources of financing to achieve improved social outcomes in developing country contexts. As with SIBs, investors would provide external financing and only receive a return if pre-agreed outcomes are achieved. Funds to remunerate investors come from donors, the budget of the host country, or a combination of the two. Financial returns to investors are intended to be commensurate with the level of success. DIBs have the potential to improve aid efficiency and cost-effectiveness by shifting the focus onto implementation quality and the delivery of successful results. In October 2013, Social Finance UK and the Center for Global Development released a report〔(【引用サイトリンク】title=Social Finance - Investing in Social Outcomes: Development Impact Bonds )〕 outlining the findings of a high level working group set up to explore the potential of this new mechanism. == History == Social Impact Bonds are a non-tradable variant of Social Policy Bonds〔(【引用サイトリンク】title=Social Policy Bonds )〕 invented by Ronnie Horesh, a New Zealand economist, in 1988.〔(【引用サイトリンク】title=Papers presented at the New Zealand Branch, Australian Agricultural Economics Society Conference, Blenheim, July 1988 )〕 The idea of the Social Impact Bond has been promoted and developed by a number of agencies and individuals in an attempt to address the paradox that investing in prevention of social and health problems saves the public sector money, but that it is currently difficult for public bodies to find the funds and incentives to do so. The first Social Impact Bond was announced in the UK on 18 March 2010 by then Justice Secretary Jack Straw, to finance a prisoner rehabilitation program.〔(【引用サイトリンク】title=Investors to pay for prisoner rehabilitation )〕〔(【引用サイトリンク】title=Bond offers return for lower offending )〕 In the UK the Prime Minister’s Council on Social Action (a group of ‘innovators from every sector’ brought together to ‘generate ideas and initiatives through which Government and other key stakeholders can catalyse, celebrate and develop social action’)〔(【引用サイトリンク】title=Promoting social action: encouraging and enabling people to play a more active part in society )〕 was asked in 2007 to explore alternative models for financing social action. The group began to develop the idea of a Social Impact Bond, and the work is being taken forward by a number of organisations including Social Finance, an organization committed to increasing investment in the third sector,〔(【引用サイトリンク】title=Publications - Our National Work - Community Links )〕〔(【引用サイトリンク】title=Social Finance )〕 the Young Foundation,〔(【引用サイトリンク】title=Home - The Young Foundation - A leading independent centre for disruptive social innovation )〕 the Center for Social Impact in Australia, and other NGOs and private firms. The idea of a Social Impact Bond has generated significant interest from across the political spectrum in multiple countries, including U.S., UK, and Australia. .〔〔John Loder, Geoff Mulgan, Neil Reeder & Anton Shelupanov (2010), Financing social value: implementing Social Impact Bonds. Young Foundation〕〔(【引用サイトリンク】title=Sir Ronald Cohen: capitalism has its consequences )〕〔(【引用サイトリンク】title=Progress - News and debate from the progressive community - Progress Online )〕 Social Impact Bonds have also generated interest in the United States. In February 2011, Barack Obama’s proposed 2012 budget stated that up to $100m would be freed up to run Social Impact Bond pilot schemes.〔 In August, 2012, Massachusetts became the first state in the nation to use a competitive procurement process to secure social innovation financing for social services. The state legislature authorized spending up to $50 million on the initiatives.〔〔(【引用サイトリンク】title=Massachusetts Announces Nonprofit Partners in 'Pay for Success' Experiment )〕 In Australia, the intention to trial Social Impact Bonds was announced in New South Wales in November 2010 by Premier Kristina Keneally of the Australian Labor Party. The policy direction was continued by the Coalition (Australia) after a change in Government in 2011. In November 2012 Essex County Council became the first local authority in the UK to commission a Social Impact Bond in Children’s Services, with the aim of providing therapeutic support and improving outcomes for adolescents at risk of going into care. Nick Hurd, the minister for civil society, commented: "Social impact bonds are opening up serious resources to tackle social problems in new and innovative ways. This is about communities, businesses and charities all working together to change people's lives, whilst at the same time making savings for the taxpayer." In February 2013 Allia, a charitable social investment organisation, announced the first public opportunity in the UK to invest in a social impact bond. Although the product was later withdrawn from sale due to lack of investors, the Future for Children Bond combined a relatively low-risk ethical investment into affordable housing to provide the funds to repay capital to investors, with a higher risk investment into a social impact bond with the aim of delivering a high social impact and providing an additional variable return. It would have invested into the Social Impact Bond for Essex County Council to ‘improve the life outcomes’ of children aged 11–16 at risk of going into care. 抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』 ■ウィキペディアで「Social impact bond」の詳細全文を読む スポンサード リンク
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