The hard reality is that we cannot expect Australian banks to stop funding mining altogether. The question we need to be asking is – can banks make a profit by investing some of that coal money towards reef-friendly businesses?
The Cabinet Office’s Centre for Social Impact Bonds has developed two new tools to assist the development of the bonds: the 'Knowledge Box' online portal and a template service agreement contract.
by Luke James
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Con-Dem Justice Minister Chris Grayling announced plans today to hack apart Britain's award-winning probation service and hand 70 per cent of it to private companies and charities by 2015.
He wants them to handle ex-prisoners deemed to be a low or medium risk, with firms paid based on reoffending rates.
Mr Maude denied the bond scheme was a way of shifting the cost of public sector projects on to private investors and philanthropists – but acknowledged the model is a useful way of delaying payment. “When the results are delivered that triggers a payment . . . and this payment will come from the public sector,” Mr Maude said. “It’s a way of funding the work in advance”.