Roca and their expansion via SIBs leads the news today in SIB News, happy reading:
Antiviolence Program By Roca Expands Into Boston
Akilah Johnson – Boston Globe
Roca’s expansion into Boston started in January when it became the state’s first “pay-for-success” contract. The innovative financing tool, also referred to as a “social impact bond,” works like this: Philanthropists and commercial investors put up the money a program needs to expand, and the state pays them back if the program is successful.
A program has five years to meet its goals, as determined by a third-party evaluator.
“This is a very different model of government than paying now and asking questions later,” said Glen Shor, the state secretary of administration and finance.
Roca, which means rock in Spanish, is constantly crunching numbers to determine the progress of its young men as they make their way through the four-year program: Of those who had been there at least two years, 92 percent had no new arrests, 98 % did not have a technical violation of their probation or parole, and 85 percent were employed for six months.
Family Offices To Gain From G7 Impact Investing Proposals
Campden FB – Jessica Tasman-Jones
As one of the fastest growing groups of impact investors, family offices will benefit from the recommendations of a G7 taskforce seeking to unleash the sector’s $1 trillion potential.
Led by Sir Ronald Cohen, the taskforce, launched last year, has established guidelines for governments and the financial sector to grow impact investing, the practice of creating measureable social and environmental good through investment.
Among the its eight recommendations, the taskforce said: social impact bonds and development impact bonds need further development, regulatory and tax incentives should be expanded to enable investors to offset their impact investment income against tax, senior government ministers need to champion the practice, and pension schemes should be encouraged to buy impact products.