On August 7, Social Finance released the first results of the Peterborough Social Impact Bonds. The Bonds, considered ground-breaking, as they were the first of their kind, sought to reduce recidivism (rates of reoffence) of male prisoners in Peterborough, UK.
The results of the first cohort of 1,000 prisoners demonstrated an 8.4% reduction in recidivism, compared to national benchmarks. As such, the program is set to distribute returns to investors in 2016.
Such positive outcomes for the world’s first social impact bonds show that, carefully executed, social impact bonds and impact investing provide a unique model for approaching even some of our most complex societal concerns.
Read the press release about the Peterborough Bonds at Social Finance UK.