NZIER webinar on social investment

Last week Eva attended a special webinar dedicated to social investment, hosted by NZIER.  There were two key speakers:  

Sarah Hogan (Deputy CE, NZIER) shared an example of the social investment approach being used to support a case for increased funding for kidney transplants because of identified cost savings and other benefits compared to dialysis. She outlined a seven steps approach to developing a social investment proposal: 

1. Identify funding needs / opportunity 

1. Research potential funders 

1. Demonstrate impact 

1. Develop a strong proposal 

1. Engage with funders  

1. Submit application 

1. Follow-up and respond. 

She warned against applying simplistic social investment analysis to complex systems – there needs to be careful mapping of the system and process. Data may already be readily available or via Statistics New Zealand’s IDI tool. 

Mathu Jeyaloganathan (Chief Investment Officer, Camden Council, UK) shared insights about the UK experience with social investment, which has bipartisan support – started by Labour Prime Minister Gordon Brown and expanded by Conservative Prime Minister David Cameron.  There is currently 10 billion invested, including funds from the dormant asset scheme (unclaimed money held by financial institutions, such as banks).   

She emphasized that communities themselves often knew what was needed and it was important to “bake-in” inclusion at all levels of development – decision-making, modelling, governance, policy, and processes for social investment.  In addition, it was important to understand where there may be bias in the data.  The fund has investment from different types of funders, with different risk appetites.  Financial institutions voluntarily join.   

We think that the use of dormant funds and assets is something that should be explored further in the New Zealand context, and we have started conversations with government about this. 

You can watch the webinar here. 

Ngā manaakitanga,

Eva Hartshorn-Sanders

Director of Policy and Advocacy, Philanthropy New Zealand | Tōpūtanga Tuku Aroha o Aotearoa