Outcomes-based contracting and impact bonds have previously been used mainly in the social sector and have effectively demonstrated a shift from activities into outcomes in the procurement process and thus created more profound impact with the public money invested.
What if the public sector paid to prevent nutrients leaking into water sources by procuring a sustainable nutrient cycle? How would the procurement work and would service providers be ready to offer solutions for it? We believe that outcomes-based contracting can be an effective tool for implementing the public sector’s strategic goals and for creating well-being across all sectors.
In July 2019, Finland will begin its EU presidency. During the term, Sitra and the EIB will work together to support the development and use of Social Outcomes Contracts as a strategic and operational tool for delivering social impact and innovation to address key social inclusion challenges in Europe and contribute to society’s increased well-being. The work will be promoted through a newly launched Advisory Platform for Social Outcomes Contracting, which is supported by the European Commission and the European Investment Bank Group under the European Investment and Advisory Hub, and which was jointly launched with the Finnish Ministry of Social Affairs and Health.
This session will bring participants together to discuss new approaches to achieving outcomes in the circular economy. We will highlight examples of circular economy procurement and invite participants to explore how outcomes-based contracting can be used to secure results in a more systematic way.
|Opening: social outcomes contracting as a tool for creating sustainable well-being and growth
|Jelena Emde, European Investment Bank
|Social outcomes contracting in Finland: when public expenditure is not seen as a cost but as a welfare investment
|Mika Pyykkö, Sitra
|Circular economy procurement as a way of bridging the circular economy gap
|Jelmer Hoogzaad, Shifting Paradigms
|Facilitated group discussions: how outcomes can be procured in the areas of nutrient cycles (agriculture) and GHG emissions (housing)
|Shifting Paradigms, Sitra