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.
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.
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?
Corecentra recently attended this year’s Data for Impact Conference, which highlighted just how integral data has become to all facets of impact management & assessment.
The annual conference, which included impact-conscious partners from across the country, is part of the Forward Fest, the Wisconsin-based showcase of technological innovation and entrepreneurship. As expected, this year’s virtual conference brought together some of the brightest minds in data and social impact.
Regardless of what the new normal will look like post-COVID, the pandemic has already induced deep shifts in the way organizations approach remote work. While some companies are still grappling with how long and to what extent they will permit remote work, other companies (Twitter and Facebook among them) have made remote work a permanent option.
Data is the fuel of the digital economy. But the benefits of good data extends well beyond businesses: data is essential to the productivity and success of modern for-profit and nonprofit organizations. Unfortunately, while 90% of nonprofits collect some data, “almost half say they aren’t fully aware of the ways data can (and does) impact their work.”
To better understand the applications of data for socially-impactful organizations, social sector experts have categorized data into two types: “data for action” and “data for impact.”
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