This is our monthly policy briefing for February 2021. Each week we gather all the news, commentary and events from across the sector, then tie it all together each month. If you would like to get this in your inbox each week you can sign up to Tiny Letter.
Call for papers Social Outcomes Conference 2021 The Social Outcomes Conference is the annual convening of the world's leading researchers, policymakers and practitioners working to improve social outcomes. In keeping with previous editions, the conference aims to bring together the rigour of cutting-edge academic research with an applied, real-world focus. Our ambition is for a vibrant exchange between researchers and practitioners to enhance both research and implementation. This year's conference will focus on six themes: outcomes-based contracting; outcomes orientation; measuring outcomes and value for money; procurement & social value; government, business and civil society collaboration in places; and networks and accountabilities. Submissions can take one of four forms: research paper abstracts, proposals for practice-focused presentations, research panel proposals, and symposia proposals. Proposals should be submitted by 30 April 2021. GO Lab
Call to action Open letter to the impact bond community INDIGO (The International Network for Data on Impact and Government Outcomes) have issued an open letter to the impact bond community, to share some of the collaboration's accomplishments to date, and to highlight opportunities for further work. The INDIGO team are particularly interested in gathering more data about new or missing impact bond projects, start and end dates for service and outcome payments, different parties in impact bond projects, and impact bond outcomes and UN Sustainable Development Goals. Find out how you can get involved at the link above. GO Lab
Opinion How is Latin America developing impact bonds? Building on the first instalment of the Engaging with Evidence series and a recent report from Ecorys, Tanyah Hameed explores the development of impact bonds in five countries across Latin America. She notes some of the key factors in Colombia's rise to the most developed impact bond market in the region, examines how stakeholders were able to overcome challenges to launch IBs in Argentina and Chile, and considers some of the barriers that have impeded impact bonds in Mexico and Brazil. Finally, Tanyah highlights two broader lessons for those looking to develop IBs in middle-income contexts: have a clear rationale for the purpose of an IB, and an understanding of how to adapt IBs to fit the particular economic, regulatory and political context of a country. GO Lab
Report Social Impact Bonds 2.0? Findings from a study of four UK SIBs This briefing paper draws together ideas about the next generations of SIBs, and their ability to deliver more innovative approaches. It examines four UK SIBs to identify the requirements for greater co-creation and social innovation through strengths-based approaches, and attempts to understand the implications for wider public service reform. The authors conclude that the next generation of SIBs should allow for higher degrees of flexibility in funding and service personalisation, establish strategies to support systemic change past the terms of the contract, and engage service users earlier in the design process. Policy Evaluation & Research Unit
Report Harnessing private capital and tying funding to results to build back better This policy brief argues for the use of outcomes-based financing, including impact bonds, to build back better from Covid-19, both in the United States and around the world. It presents background to impact bonds, argues that the approach is well-suited to current challenges, and suggests some concrete policy measures to support outcomes-based approaches, focusing on three key factors: educating and building capacity, utilising and developing legislation, and pooling investment and outcomes capital. Brookings
Opinion Social impact bonds: What’s the secret sauce to making them work and are they worth the effort? Uniting NSW and ACT recently launched their second social impact bond in Australia. In this article, their deputy CEO Doug Taylor discusses four ingredients for success when developing a SIB from a provider perspective: a quality initiative that is appropriate for a SIB, organisational capacity and capability, a genuine ability to work in partnerships, and a bit of luck! He also considers the broader value of the approach, noting that while there can be range of benefits for both service user outcomes and the provider to developing a SIB, a lot depends on the organisation, programme, and other funding options available. Pro Bono Australia
News ‘Dynamic’ municipal body developing India’s first government-funded social impact bond Pimpri Chinchwad Municipal Corporation (PCMC) and the UN Development Programme India are developing the first impact bond in which an Indian government body has agreed to be the outcome payer. PCMC are a local government organisation responsible for 30 healthcare facilities in the city of Pune. The new SIB will allow them to upgrade infrastructure, build staff capacity and implement protocols to support higher quality healthcare, with the ultimate aim of enabling more citizens to use state rather than private health facilities. The UNDP will provide technical assistance through its SDG Finance Facility, and the SIB is being designed by Palladium, who were previously involved in the Utkrisht DIB. Pioneers Post
News Australia’s first social impact bond launches in SA after interstate success The Newpin SA Social Impact Bond is due to launch in South Australia, the third location across the country to adopt the approach. The new SIB builds on the successes of the first iteration, launched in New South Wales, but will also attempt to learn from challenges the approach faced in Queensland. Three Newpin centres will be established across Adelaide and it is anticipated that around 224 families will take part over 5 years. Social Ventures Australia are currently raising capital for the project and expect to raise $6.5 million by the end of March. Pro Bono Australia
Opinion How results-based financing can help improve education, health and employment This article highlights the role of a range of results-based financing tools in the global recovery from Covid-19, allowing governments to leverage the private sector in areas such as health, education and job creation. It identifies a range of important factors to allowing RBF approaches to scale, including senior champions in governments and donor organisations, improved data and tracking to monitor and verify results, and a change in mentality from governments to adopt a greater focus on the outcomes of public spending. World Economic Forum
Webinar series Reimagining government: an ANZSOG and Centre for Public Impact series 16 March This series of four webinars, co-hosted by the Australia & New Zealand School of Government and the CPI, will build on last year's series and dive more deeply into four topics that appeared central to a new vision for government: failing forward, learning to listen again, meaningful measurement, and system stewardship. The first session, on 16 March, will consider how governments can create a culture of innovation that supports learning from failure. ANZSOG/CPI
Opinion Public procurement can produce social benefits This article discusses the EU's report on Making socially responsible public procurement work, which examines a range of ways in which public sector buyers can help to achieve positive social outcomes through socially responsible public procurement (SRPP). It highlights some of the challenges to SRPP, including a lack of high-level support due to concern about resource requirements or legal risks, and the need to have a good understanding of the market. However, it also notes the opportunities, such as engaging social enterprises, and integrating green and social objectives under SRPP. Cities Today