"Social Policy Bonds are non-interest bearing bonds, redeemable for a fixed sum only when a targeted social objective has been achieved. The bonds would be backed by government or private bodies, auctioned on the open market, and freely tradable at all times. A Social Policy Bond regime would:
Inextricably link rewards to outcomes rather than inputs, outputs, activities or institutions; and
Inject the market’s incentives and efficiencies into the achievement of social and environmental goals.
The effect of a Social Policy Bond regime is to contract out the achievement of social and environmental goals to the most efficient operators - whether they be in the private private or public sector. Because Social Policy Bonds do not prejudge how objectives shall be achieved nor who shall achieve them, they would encourage diverse, adaptive solutions."
https://socialgoals.com/
Inextricably link rewards to outcomes rather than inputs, outputs, activities or institutions; and
Inject the market’s incentives and efficiencies into the achievement of social and environmental goals.
The effect of a Social Policy Bond regime is to contract out the achievement of social and environmental goals to the most efficient operators - whether they be in the private private or public sector. Because Social Policy Bonds do not prejudge how objectives shall be achieved nor who shall achieve them, they would encourage diverse, adaptive solutions."
https://socialgoals.com/