Social impact investments bring together the public, for purpose and for-profit sectors to achieve social impact alongside a financial return. They can come in a variety of forms (e.g. social impact bonds, payment-by-results contracts), all underpinned by four core principles:
- outcomes: designing, measuring and paying for outcomes
- innovation: testing innovative services and building an evidence base for what works
- prevention: shifting the focus from high cost acute services to prevention
- partnerships: leveraging the strengths of different sectors and sharing risks and benefits.
The Office of Social Impact Investment (OSII) within NSW Treasury oversees and leads the implementation of the NSW Social Impact Investment Policy to facilitate better services, better outcomes, and better value for the people of NSW through impact investing. Key elements of this work include partnering with Government agencies, for-purpose and for-profit sectors to implement outcome-focused, innovative, early-intervention programs aimed at tackling social issues and build capability among agencies and service providers to participate in social impact investing. OSII also leads asset identification and impact reporting under the NSW Sustainability Bond Programme.
The OSII website contains a comprehensive suite of information including current opportunities, policies, guidelines, tools and resources.