Creation of a State Impact Investment Framework is an opportunity for the State Government to take a ‘best-practice’ policy leadership approach, actively participate in the development the Western Australian impact investment market. This paper outlines a series of opportunities for consideration by the State Government to support private and not-for-profit businesses already undertaking social impact investments and innovating in their businesses models to actively support marginalised and disadvantaged communities in Western Australia.
In this submission to the Treasurer’s office, we outline six policy engagement points for the State Government as it considers its approach to Impact Investment. These engagement points consider how private capital can support and release government capital, recognising the importance of collaboration to help solve the complex problems in our community. The six policy points outlined in our submission focus:
- Social Procurement Strategy
- Social Enterprise Accreditation Framework
- Social Enterprise Development Strategy
- Social Innovation Policy
- Direct Impact Co-Investment & Intermediary Capacity Building
- Pay-for-Performance Contracting including Social Impact Bonds
