Could The Launch of the World’s First Social Success Note Be The Answer to The SDGs Funding Gap.
Today, the world’s first Social Success Note or “SSN” is launched at the Skoll World Forum by Yunus Social Business, The Rockefeller Foundation, UBS Optimus Foundation and Impact Water. Similar to Social Impact Bonds, the SSN is a new financial innovation that harnesses the power of private return-seeking capital to support businesses that achieve social outcomes.
It’s estimated that an extra $2.5 trillion of funding will be needed each year in order to achieve the 2030 Sustainable Development Agenda. In order to bridge such a gap it is vital that the development community looks to the financial industries for innovative solutions.
The Social Success Note blends funds from donor organizations, governments and private debt and equity. It is intended to be sector agnostic, ultimately seeking to build a larger pool of both investment and outcome funding in order to successfully scale up solutions to the funding gap.
The intervention of the Social Success Note is driven by Impact Water, a social business that sells, installs and maintains water filtration systems in
Uganda. Impact Water will use investment capital from UBS Optimus Foundation and Outcome Payments from the Rockefeller Foundation to increase the scale of its impact to provide 1.4 million children with clean water over the next 5 years.
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Yunus Social Business
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