Fostering the work inclusion of prisoners in Italy
We are helping the Ministry of Justice (MoJ) to disrupt the cycle where prisoners commit further crimes if they cannot find a job after their sentence.
This innovative scheme, created alongside Ernst & Young, will incentivise investors to supply upfront capital for financial rewards on a 'pay-by-results' basis if agreed social outcomes are achieved. The model, also known as a social outcomes contract (SOC), is inspired by Programma 2021, a pilot project launched by the italian MoJ with Lendlease.
Our role is to design a model that brings investors to the table and an operating structure to verify the results in a legally secure manner. This model is set to be a ready-to-roll blueprint for other sectors.
The purpose of a Social Impact Bond (SIB) is to share the risks of this type of experimental intervention between the public and private sectors. We are creating an SIB in Italy that will benefit all of the various stakeholders involved.
Filling the skills gap
Two thirds of convicts in Italy reoffend, mostly due to a lack of viable employment. We will bridge this gap by creating a model that engages the private sector to help develop the life structure and vocational skills needed to find a secure job.
“This innovative project is designed to generate social value for the entire community by creating genuine job opportunities for prisoners”
MJ Ullmer, Global Chairman, Lendlease
Developing the operational structure
We are defining the legal parameters and metrics needed to measure the impact of the new SIB. These will prove that the scheme is feasible and also that it is ready to be launched within the context of the Italian criminal justice system.
Building a model that’s ready to scale
The goal is to identify the appropriate service providers and investors to supply upfront capital. We are actively reimagining the social-outcome contract negotiation process to ensure that this model can readily translate into other sectors.