A close adviser to US President Barack Obama has said today that the United States looks to Britain’s voluntary sector for inspiration in advancing its own social investment strategy.

Jonathan Greenblatt, special assistant to the President and director of social innovation and civic participation at the Domestic Policy Council, was delivering the opening plenary today at Good Deals 2012: The UK Social Investment Conference.

He spoke of the ties that historically bind the two countries, but insisted that America stands on the shoulders of the UK when it comes to social investment innovation.

“The world is a better place for the leadership you have pioneered in the UK,” he said.

“This includes many of the trends – good corporate form, fair trade, ethical consumerism, funding models and investment vehicles – that are evolving in our country.”

Social impact bonds replicated in US

He used the social impact bonds at Peterborough prison as a specific example, saying that the US has followed this lead to create what it is calling ‘pay for success’ bonds.

“We think they hold tremendous potential to attract capital and fill gaps in funding,” he said. More social impact bonds in London and Essex were announced last week, as was a new £20m Cabinet Office fund.

Greenblatt, who is a social entrepreneur himself and co-founder of Ethos Water, concluded his presentation by pointing out that no country has a trademark on social innovation. “It can bind not just communities but countries,” he insisted.

“It is a global solution.”