A bumper day of news today with a trio of great stories. We lead with Barrons, one of the most influential investment publications discussing SIBs while there is a similarly interesting tale from the famed pages of Forbes and then a very exciting development in Sydney with news of a remarkable bond emerging down under. Exciting times, happy reading:
“SIBs” Come Of Age (subscription)
Andy Sieg – Barron’s
Even at a time of political gridlock, we are seeing a new era of collaboration between our public, private and nonprofit sectors. The search for new ways to finance programs that can improve the lives of our fellow citizens.
PwC Is Part Of A Plan To Get 2500 Homeless Off The Street And Save NSW Taxpayers $243 Million
Simon Thomsen – Business Insider
A leading Sydney charity hopes to find accommodation for nearly 10% of Sydney’s homeless, estimating they’ll save taxpayers up to $243 million with the plan which includes the issue of “social benefit bonds” by the state government.
Jewish House Crisis Centre is hoping to raise $6.2 million for “Project 2500″, launched at Parliament House today.
Rabbi Mendel Kastel, CEO of Jewish House, said the organisation already has $925,000 towards the pilot program’s estimated cost and floated the idea of the NSW Government underwriting social benefit bonds to raise the capital required.
“We’ve had initial talks with Treasury and they expressed interest and we hope to continue those discussions,” Rabbi Kastel said.
Making Money While Making The World A Better Place
Amy Rees Anderson – Forbes
Making money while making the world a better place – what could possibly be better than that? That is exactly the goal of impact investors.
James Lee Sorenson, successful entrepreneur and philanthropist, calls it the “double bottom line,” and achieving that double bottom line is something he is incredibly passionate about. Impact investing is “doing good while doing well,” states Sorenson in a recent presentation.