Social Impact Investment: a lever for driving the next wave of productivity and innovation

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Rosemary Addis, Social Innovation Strategist,
Department of Education, Employment and Workplace Relations delivered this presentation at the 2013 Social Finance Forum in Sydney/Australia. The two-day event reviewed the benefits of social service bonds, government opportunity and policy that supports the social finance market, the investor appetite for social impact bonds, calculating risk, measuring outcomes, as well as numerous case studies and international expertise.

In 2013 Informa will host the inaugural Social Finance Summit in the UK. The event will be held on the 12th and 13th November at the Hilton London West End. For more information on the outstanding speaker line-up, please visit www.socialfinancesummit.com

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Social Impact Investment: a lever for driving the next wave of productivity and innovation

  1. 1. Social Finance Forum Investment for social and economic benefit Rosemary Addis Social Innovation Strategist August 2013
  2. 2. The Australian challenges reflect a global picture Our Future World: Global megatrends that will change the way we live, CSIRO, 2012; Australia to 2050, third Australian intergenerational report, Australian Treasury, January, 2010 et al Ageing and growing population Australia Ageing and growing population Escalating demand for services Economy in transition Environment vulnerable to climate change Growing gaps between sub-groups and communities Need to boost productivity and innovation
  3. 3. The gap between demand for services and what government can provide is widening Timeline Publicservice Estimated gap by 2025 – Australia $54 billion G8 US$1.5 trillion Figures from Accenture and Oxford Economics: Delivering Public Service for the Future: Navigating Shifts, and Fast Forward to Growth: Seizing Opportunities in High-growth Markets
  4. 4. IMPACT – Australia insights from the field enlivened a vision What’s happening; Why it matters; What could this be? What can we do? Call to Action
  5. 5. Those who understand the need Those who have the resources and innovation expertise to contributeIdeas Resources Networks COMMUNITY MARKETS GOVERNMENTS New combinations of people, ideas and resources Figure X: How government uses social innovation to address the demand-supply gap
  6. 6. New approaches to creating jobs and local economic growth
  7. 7. There is potential in the Australian context
  8. 8. Market based approaches are accepted part of economic, and now environmental, policy Innovation Investment Fund
  9. 9. This is already extending to social and cultural policy domains CDFI Pilot
  10. 10. Social Impact Bonds - new ways of working
  11. 11. Source: Adapted from J Freireich and K Fulton, Investing for Social and Environmental Impact, Monitor Institute, 2009; and R Hill, Effective Consulting, in collaboration with the Australian Government Department of Education, Employment and Workplace Relations. Government has dual roles – participant and steward in the market
  12. 12. Governments also face changing expectations “Governments of the future will need to adapt and continuously evolve to create value. They need to stay relevant by being responsive to rapidly changing conditions and citizens’ expectations, and build capacity to operate effectively in complex, interdependent networks of organisations and systems across the public, private and non-profit sectors to co-produce public value.” World Economic Forum The Future of Government: Lessons learned from around the world, World Economic Forum, 2011
  13. 13. There is growing global momentum for impact investment Impact investment is a fast-growing market globally. The enormous potential for Australia was highlighted in the landmark report, IMPACT-Australia. www.businessweek.com, 6 June 2013 IMPACT-AUSTRALIA: Investing for social and economic benefit, DEEWR, 2012
  14. 14. The UK strategy links public sector, community sector and markets Growing the Social Investment Market 2013 Progress Update
  15. 15. “The leadership responsibility in this country extends well beyond our elected politicians. It must be shared by business, the community and in academia.” Dr Ken Henry, former Treasury Secretary and author, Australia in the Asian Century ‘Q&A with Ken Henry’, Company Director, March 2013 This calls for shared leadership of new solutions
  16. 16. Toward a virtuous cycle of leadership, action and practice
  17. 17. Questions and Discussion for the panel

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