Social impact bonds: cleared for landing in British Columbia | CUPE

by Graham H. Cox last modified 2014-03-24T14:15:57-04:00
"Social Impact Bonds (SIBs) represent a new and particularly disruptive form of social service privatization that bears resemblance to the introduction of public private partnerships for the development of hard infrastructure. Social impact bonds pose a major risk to the preservation of valuable public services. Based on this detailed critique, unions and non-profit organizations involved in the delivery of services to people must oppose them. Early steps have been taken to introduce SIBS to Canada and a number of provinces. Read this report to learn the recent history of social impact bonds and how they have been used in other jurisdictions such as United Kingdom, New York and Utah. The repot looks at the structure of social impact bonds and their role in co-opting not-for-profit organizations into a position of supporting a for-profit model of service delivery. It examines the growing literature on SIBs that has arisen since their introduction and draws attention to host of concerns relating to their governance systems, trends in bond financing and problems with determining appropriate methods of evaluating their outcomes."
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