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Page 1: Rosemary Addis

Social Finance Forum Investment for social and economic benefit

Rosemary Addis Social Innovation Strategist

August 2013

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The Australian challenges reflect a global picture

Our Future World: Global megatrends that will change the way we live, CSIRO, 2012; Australia to 2050, third Australian intergenerational report, Australian Treasury, January, 2010 et al

Ageing and growing population

Australia

Ageing and growing population

Escalating demand for services

Economy in transition

Environment vulnerable to climate

change

Growing gaps between sub-groups and

communities

Need to boost productivity and

innovation

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The gap between demand for services and what government can provide is widening

Timeline

Pu

blic

se

rvic

e

Estimated gap

by 2025 –

Australia $54 billion

G8 US$1.5 trillion

Figures from Accenture and Oxford Economics: Delivering Public Service for the Future: Navigating Shifts, and Fast Forward to Growth: Seizing Opportunities in High-growth Markets

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IMPACT – Australia insights from the field enlivened a vision

What’s happening; Why it matters;

What could this be? What can we do?

Call to Action

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Those who understand the need

Those who have the resources and innovation

expertise to contribute Ideas Resources Networks

COMMUNITY MARKETS

GOVERNMENTS

New combinations of people, ideas and resources

Figure X: How government uses social innovation to address the demand-supply gap

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New approaches to creating jobs and local economic growth

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There is potential in the Australian context

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Market based approaches are accepted part of economic, and now environmental, policy

Innovation Investment Fund

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This is already extending to social and cultural policy domains

CDFI Pilot

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Social Impact Bonds - new ways of working

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Source: Adapted from J Freireich and K Fulton, Investing for Social and Environmental Impact, Monitor Institute, 2009; and R Hill, Effective Consulting, in collaboration with the Australian Government Department of Education, Employment and Workplace Relations.

Government has dual roles – participant and steward in the market

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Governments also face changing expectations

“Governments of the future will need to adapt and continuously evolve to create value. They need to stay relevant by being responsive to rapidly changing conditions and citizens’ expectations, and build capacity to operate effectively in complex, interdependent networks of organisations and systems across the public, private and non-profit sectors to co-produce public value.”

World Economic Forum

The Future of Government: Lessons learned from around the world, World Economic Forum, 2011

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There is growing global momentum for impact investment

Impact investment is a fast-growing market globally. The enormous potential for Australia was highlighted in the landmark report, IMPACT-Australia.

www.businessweek.com, 6 June 2013

IMPACT-AUSTRALIA: Investing for social and economic benefit, DEEWR, 2012

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The UK strategy links public sector, community sector and markets

Growing the Social Investment Market 2013 Progress Update

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“The leadership responsibility in this country extends well beyond our elected politicians. It must be shared by business, the community and in academia.” Dr Ken Henry, former Treasury Secretary and author, Australia in the Asian Century

‘Q&A with Ken Henry’, Company Director, March 2013

This calls for shared leadership of new solutions

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Toward a virtuous cycle of leadership, action and practice

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Questions and Discussion for the panel

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