social bonds
A set of financial instruments that aim at raising capital for projects with positive social outcomes and that provide return on the investment upon the achievement of specific social policy goals. Social bonds are generally used to finance projects in areas such as affordable infrastructures, access to essential services, employment programmes, food security and sustainable food systems.
Also called: social impact bonds, social benefit bonds, pay-for-success bonds, pay-for-success financing
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Definition from ESCO, published by the European Commission. Source concept
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