Social Impact Bonds (SIBs) are a new form of social-sector financing that have only recently emerged. These arrangements stipulate that private agents offer the principal investment in a social initiative and receive returns related to stated performance benchmarks. This presents an opportunity for the government to avoid footing the bill for expensive programs and for the private sector to support the social sector with the potential to profit.
In the era of massive data collection and analysis, the subject of data transparency is often mentioned. ‘Data transparency’ refers to the practice of making inputs or data flows visible to donors, stakeholders, project partners, different departments, and possibly the public. In recent years, it has shifted from an abstract ideal to a necessary component of any successful social impact enterprise. In fact, nonprofit database Guidestar reported in 2019 that transparent nonprofits average 53% more in contributions and perform strongly across a range of dimensions. However, the benefits of transparency extend far beyond donor relations. Operational transparency can improve existing practices, connect organizations with partners in the same space, and maximize social impact by working hand in hand with partners and the community.
Since the release of the United Nations’ Sustainable Development Goals in 2015, numerous companies have promised to enhance and measure their impact using the SDGs as a guide. Following through has proven easier said than done, and implementing effective data gathering and reporting methods has been a major roadblock. By leveraging the latest tools (including Corecentra’s solutions), companies can revamp their SDG efforts.
Environmental Defense Fund or EDF (formerly known as Environmental Defense) is a nonprofit environmental advocacy group based in the United States since 1967. They began as a group of ‘scrappy scientists’ in Long Island, New York, fighting to save a group of ospreys from a toxic pesticide known as DDT
In modern Corporate Social Responsibility (CSR) and professional philanthropy, there is specific language—as with all sectors—used to describe its line of work. While some industry-specific vernacular is used to describe complex concepts, some of the jargon may unintentionally obscure meanings to the detriment of transparency. In the case of the words ‘outcome’ and ‘output,’ there is a clear distinction between the two terms that is not widely understood.
Investing has become synonymous with growing capital rapidly and efficiently. But with the uncharted growth of the new impact investing industry, social responsibility and impact are becoming key players in company ratings and development. Learn more about how GIIRS (The Global Impact Investing Rating System) can play a key role in facilitating this industry.
The most enduring images from the COVID-19-related shutdowns and quarantines are typically of empty streets, schools, and offices. Concerts and festivals have been canceled, travel has been dramatically curtailed, and for many, the world has been compressed into a computer screen. But for a large number of people in marginalized and underserved populations, the effects of the pandemic are more deeply felt. People in these groups may suffer from preexisting conditions such as chronic comorbidities,diabetes, asthma, and more.
In the past decade, the importance of corporate social responsibility has increased exponentially. Today, most companies, especially the most profitable, have invested in CSR efforts and other brand-building initiatives. But why are CSR efforts so important?
Over the last several months, government agencies across the US at the state, county, and city level have launched COVID-19 dashboards to provide up-to-date information about the pandemic in specific regions. However, there are notable differences in functionality, transparency, and overall effectiveness among dashboards.
Theory of Change (TOC) is a method for planning, participation, and evaluation used to promote social change in organizations.
Created at the Aspen Institute Roundtable on Community Change in the 1990s and popularized by Carol Weiss, the term TOC outlines a series of desired and actual outcomes and linked rationales—all of which flow in chronological order.
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