DFID announces UK's first development impact bond

DFID announces UK's first development impact bond

17 Apr 2014 | Vibeka Mair

The UK is to launch the first development impact bond - an international version of the social impact bond - International Development Secretary Justine Greening has said.


DFID announces UK's first development impact bond

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Boris Johnson, London Mayor

London Mayor Boris Johnson’s announcement this week that provision of rape crisis counselling in London would be doubled over the next three years has been tempered by United Nations warnings that the UK government’s commitment to women’s rights is still sorely lacking.  

Church of England hires first-ever investment director

The Church Commissioners for England has appointed Tom Joy as its first director of investment to manage all of the Church of England’s property and other assets worth a total of £4.4bn. Joy (pictured), who will report to the first church estates commissioner, Andreas Whittam Smith, and the secretary to the commissioners, Andrew Brown, has been hired to advise the assets committee on the strategic development of the Church’s multi-asset investment portfolio in light of the increasing complexity of the financial markets.

Tobacco tops list of most unethical investments

Far more charities will avoid investing in tobacco on ethical grounds than any other stock - even military involvement. According to new research from the Charity Finance Directors’ Group (CFDG) and EIRIS Foundation, over half of all large UK charities (those with more than £1m income) now have an ethical investment policy.

Brown's compulsory youth volunteering vision kicks off

The government has allocated £7m to pilot community service for young people, in the first stage of Gordon Brown’s pet policy to make sure all 14 to 19 year olds do 50 hours of community service. The Department for Children, Schools and Families will distribute the funds to five pilot community service projects which will run from January 2010 until March 2011.

A single and largely centralised body will never meet the need for a regulatory body to oversee an increasingly diverse sector.

» Hodge moots 'bonfire' of the Charity Commission

Ruralnet UK shuts its doors

Ruralnet UK, the rural regeneration charity founded by Simon Berry nearly eight years ago, has closed down after failing to attract sufficient funding to keep operating. For the last two years the charity has had to dip into its reserves to stay afloat, and been unable to find enough money to build them up again. It took steps to shrink its operations earlier this year but those moves have not proved to be enough and at the end of July it ceased trading altogether.

Howard League for Penal Reform offers backing to Curley prison campaign

Chief executive of the Howard League for Penal Reform, Frances Crook, has offered support to NAVCA chief Kevin Curley’s campaign against the prospect of charities running prisons. It is the second crime prevention charity to back the campaign in a week. Richard Garside, director of the Centre for Crime and Justice Studies, hasalso offered support to Curley, saying he was right to ask if there were limits to charitable provision.

NSPCC announces closure of final salary pension scheme

The NSPCC is to close its final salary pension scheme – a decision which affects 900 of its 2,300 staff. The move, first proposed by trustees at the end of last year, has “disappointed” employee union Community which claims the scheme could continue. The union is representing all affected employees – some of whom were enrolled in the scheme last year. It has said it will offer legal advice to its members when the scheme officially ends on 31 December.

Running prisons could be charitable, Commission tells Curley

Kevin Curley, chief executive of NAVCA, has vowed to fight the prospect of the charity sector running prisons after the Charity Commission refused to rule out the possibility that it could be a charitable purpose. Curley wrote to the Commission twice this year, asking for a review of whether charities could run prisons after the Ministry of Justice decided the third sector and private sector organisations could bid to run new prisons and existing failing prisons. Crime prevention charities Catch 22 and Turning Point were the first charities to win a prison bid this month.

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