20/30 Visions
A series in which we ask global thought-leaders: how do we build a more sustainable and inclusive world by 2030?
The world of sustainability and impact has come a long way in the two decades since Bridges launched in 2002. But given the scale of the challenges we face, it's not enough.
If we are to have any hope of achieving the Sustainable Development Goals by 2030 (the theoretical target) – or getting anywhere close to Net Zero – we need to go much further, much faster.
Our 20/30 Visions series explores what this needs to look like in practice. In each episode, we speak to a different expert or thought-leader from around the globe, and ask them: what needs to change if we want to build a more sustainable and inclusive future in the next decade? And how do we make that change happen?
20/30 Visions
20/30 Visions: Kevin Tan on harnessing the potential of 'Pay for Success'
Governments around the world are grappling with a huge array of increasingly complex social challenges. Outcomes-focused projects - sometimes called 'pay for success', or previously 'social impact bonds' - have shown clear potential to help address these challenges, by creating innovative partnerships between governments, philanthropy, the social sector and the private sector, based on a shared vision of success. But globally, this market remains small, especially relative to the scale of the problem. Why is that? And what can we do to do unlock its true potential?
To discuss this, we're joined by Kevin Tan of Tri-Sector Associates. Based in Singapore, Tri-Sector is working with various east Asian governments on outcomes-based projects - and experimenting with new ways of adapting the model so it is better aligned with standard government procurement and budgeting systems. In our interview, Kevin argues:
- Why pay for success can be a vital tool for solving big social challenges
- Why it's hard for Governments to 'fail', especially in Asia
- The problems with the standard 'social impact bond' model
- Two modifications that can help solve the 'product/ market fit' issue
- The importance of working within existing government systems
- And more
Produced & presented by James Taylor
Editing by Jake Hatt @ Free Bird Film
Watch the videos at www.bridgesfundmanagement.com/2030visions