New economics foundation issues social investment bonds

Finance | Tania Mason | 26 Nov 2009

The new economics foundation (nef) has launched an investment bond that offers no financial return but will be used by the foundation to support its work creating a “new kind of economy in which people and planet matter”

Proceeds from the sale of Just Bonds, priced at £500 each, will go into a fund that will be used by nef to support its work building an “alternative, viable future of environmental and economic sustainability, individual wellbeing and social justice”.

All Just Bondholder will become part of a Just Associate network, with benefits that include regular strategy discussion breakfasts with senior nef staff, mailings, and invites to exclusive events.

Nef is issuing £200,000 Mandatory Convertible Just Bonds due on 30 June 2010. These will be mandatorily converted into support for nef’s work. Bondholders will not be entitled to any form of economic rights – nef is quick to point out that purchase of a bond will constitute a “non-refundable charitable donation”.

Liz Sutton, head of fundraising and communications, said the charity was “deliberately playing with the language and imagery of financial products to make a serious point: that there are things more important than money that we should all be investing in”.

The Just Bond scheme follows hot on the heels of Crisis’ Urban Investors social investment programme, which promises a social return of 366 per cent for every £1,200 unit purchased.

Directory: Crisis

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