Social enterprises, NGOs and similar civil society organisations are experts when it comes to the creation of social and environmental impact – but when it comes to financing them, the credit risk models of banks and investors send red alerts, for understandable reasons. As a result, such entities revert to grant and philanthropic funding, which in many cases is available to them only in small amounts on an ad-hoc basis, preventing them from scaling their operations and developing sustainable operations. This traditional approach effectively creates a glass ceiling for impact generators. “We are convinced that an outcome-based approach is a big part of the solution for rendering these entities more investable, and to achieve this we use, in particular, Social and Development Impact Bonds (SDIBs)” says Sandrine Enguehard, Head of Sustainable and Positive Impact Finance Solutions at Societe Generale. Read More