With European Investment Bank
Social Impact Bond Design
Lombardy, Italy
2021 - present
Social Impact Bond
Lombardy, Italy
Social Impact Bond
2021 - present
Social Outcomes Contract (SOC)
Social Impact Bond (SIB)
Impact Investing
Social Finance
Social Innovation
Sustainable Finance
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.
Project goals
Decrease
reoffending rate and social costs
Increase
employment for prisoners and former prisoners
Create
impact investment opportunities
Measure
impact and generate return on investment
We are proud of...
Designing a model that works for everyone
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.
âThis innovative project is designed to generate social value for the entire community by creating genuine job opportunities for prisonersâ
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.
