Social Impact Bonds
By The Economist
From The Economist
Published: August 27, 2012
A scheme that can help keep youngsters out of jail comes to America.
Aug 18th 2012 | RIKERS ISLAND, NEW YORK | from the print edition
IN A small classroom four teenage boys laugh and roll their eyes at each other’s wisecracks. The instructor, sometimes speaking in Spanish, encourages them to think about their futures. For his family, one says, “I want to buy a big-ass house.” Another wants to work with cars. A third thinks a family reunion would be great. The classroom is on Rikers Island, New York City’s biggest jail. The teens are participating in the Adolescent Behavioral Learning Experience (ABLE) programme, which helps them focus on personal responsibility through cognitive behaviour therapy. The programme’s goal is to cut the re-incarceration rate among the youngsters, and it is funded using social impact bonds (SIB).
A SIB is an experimental financing method which connects financially-stressed municipalities with private investors to fund public projects at no initial cost to taxpayers. Also known as pay-for-success contracts, these schemes began in Britain’s Peterborough prison in 2010. Unlike most funding for social projects, which tend to pay for inputs, SIBs rely on results. New York is the first city in America to try one. Unlike in Britain, which had do-gooder sorts finance its social projects, New York has Goldman Sachs, a Wall Street institution. It is funding the programme to the tune of $9.6m over four years. This is not a charitable donation. Alicia Glen, head of Goldman’s Urban Investment Group, says “it is a real loan.”
If re-incarceration rates for the teens at Rikers drops by 10%, Goldman gets its money back. If they fall further than 10%, Goldman will see a tidy profit. But if rates do not fall by the set target, Goldman stands to lose money. Michael Bloomberg, New York’s billionaire mayor, is a big supporter, so much so that his philanthropy group, Bloomberg Philanthropies, is guaranteeing $7.2m of the loan.
Meeting that goal will be hard, in part because the teens are not behind bars for very long. Many are awaiting trial or transfer, so most stays on the island are of just a few months. This means the non-profits, MDRC, Osborne Association and Friends of Island Academy, who are charged with overseeing and implementing ABLE, do not have much time with each adolescent. Still, Dora Shriro, the Corrections Commissioner, is confident rates will fall by more than 10%.
from the print edition | United States
財政救星？紐約實驗社會效益債券
2012-08 Web only 作者：經濟學人
在一間小教室裡，四個青少年男孩放聲大笑。指導老師則鼓勵他們思考一下自己的未來；有個男孩想幫家裡買間大房子，有個想學修車，還有一個覺得全家團聚很不錯。
這間教室位於紐約最大的監獄里克斯島（Rickers Island），男孩則是青年少行為學習經驗（ABLE）計畫的參與者；ABLE透過認知行為療法，幫助他們將心思放在個人責任之上。此計畫的目標在於減低年輕人再入獄的比例，其資金則來自社會效益債券（SIB）。
SIB是種實驗式的財務手段，讓財政吃緊的市政府與私人投資者合作，對納稅人來說並沒有初期成本。這種「依績效支付」的機制起於英國監獄，SIB與多數依投入成本來支付的社會計畫不同，它看的是結果。
紐約是第一個嘗試SIB的美國城市，英國倚靠行善人士為社會計畫提供融資，紐約則有高盛。高盛為此計畫提供了960萬美元融資，高盛都會投資集團的領導者Alicia Glen表示，那是貨真價實的貸款。
如果里克斯島青少年的再入獄比例下滑10%，高盛就能拿回所有的錢；若下滑幅度超過10%，高盛則會獲得相當不錯的利潤，若降幅無法到達目標，高盛就會賠錢。紐約的富豪市長Michael Bloomberg非常支持此計畫，他的慈善組織也為其中720萬貸款提供擔保。
達到目標勢必十分困難，部分原因在於，這些青少年不會在監獄裡待非常久；許多人是在等候審判或移監，所以多數人只會在里克斯島待上幾個月。這表示負責監管並執行ABLE計畫的非營利組織，並沒有太多時間可以與每位青少年相處。不過，紐約市懲教署署長Dora Schriro很有信心，認為再入獄率一定會下滑超過10%。（黃維德譯）
留言列表
高普考補充資料 (3)
