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Social Impact Bond Launches in U.S. Backed By Goldman Sachs, Mike Bloomberg Billionaires See Profit in Prisons, But It's a Good Thing This Time

The money men at Goldman Sachs join NYC's Billionaire-in-Chief to use creative finance for good. The Social Impact Bond has come to America!


Goldman Sachs is making an unusual loan: $9.6 million to help young men stay out of New York City jail. And they could earn millions on the deal. But it's taxpayers more than shareholders who should be pleased with the plan.

New York City Mayor Michael Bloomberg proudly announced a new kind of City spending yesterday. "As the first city in the nation to launch a Social Impact Bond, we are taking our efforts to new levels and we are eager to see the outcome of this groundbreaking initiative,” he said in a statement. As Bloomberg and Goldman go, expect other banks and mayors to follow.

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New York City's Dirty 10,000 Get Paid To Clean Up

One percent of the city's buildings spew more soot than all its cars. Now New York has motivated banks to lend to landlords so they can clean up.


In America's largest city, buildings pollute more than cars. It's not a matter of numbers though, it's a matter of clean fuel, or the lack of it.

Just one percent of buildings in New York still burn heavy forms of heating oil, but those 10,000 polluters spew more soot than all the vehicle traffic in the whole city. "Upgrading these buildings to cleaner heating fuel is the single largest step New Yorkers can take to solve local air pollution,” Fred Krupp, president of Environmental Defense Fund, said in a statement.

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Should Fighting Hunger Be a Franchise Business?

Despite the occasional controversy, two social enterprises are using the Coca-Cola model to fight hunger in Africa.

A child in El Salvador holding a Plumpy’nut meal

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Women Funding Women Opens the Door to Responsible Investing

A new impact investment fund targets women and lowers the financial burden of making responsible investments—a WIN-WIN.

Maggie works at Cake Love, a business that has benefited from the Calvert Foundation's impact investing.

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