Connecticut looks to deploy more SIBs alongside a discussion of sustainable finance and human rights…
Malloy To Unveil Program To Help Families Facing Drug Abuse
AP
Democratic Gov. Dannel P. Malloy is unveiling a new strategy to help better serve Connecticut families affected by substance abuse.
The program calls for a tested and intensive in-home program for families involved with the state’s Department of Children and Families. The initiative has been dubbed the Connecticut Family Stability Pay for Success project.
Malloy is scheduled to announce the initiative Tuesday at Hartford City Hall with White House National Drug Control Policy Director Michael Botticelli and other state and federal officials. The Yale Child Study Center and other organizations will be involved.
It’s initially being funded with private social impact bonds that the state will eventually repay if specific results are met.
Malloy and Botticelli are hosting a forum this week on preventing prescription drug and heroin abuse.
Human Rights Becoming Integral to Sustainable Finance
Justmeans
Following the 2008 global financial meltdown, financial experts have increasingly highlighted the need to incorporate sustainability, ethics and human rights into the financial system for long-term stability. The financial system must support sustainable livelihoods, inclusive societies and mitigate the impact on the environment.
As an example of Social Impact Bonds delivering on human rights, the report quotes Goldman Sachs’ Pay for Success (PFS) initiative to reduce recidivism and improve employment outcomes for young men at high risk of re-offending. Under this initiative, a service provider is only paid when a third-party evaluator determines that the initiative has achieved specific outcomes. The social impact bond provides a unique model for incentivizing an alternative to incarceration and prompting a second opportunity for juvenile offenders.