Antinuclear

Social Impact Bonds – a way for Aboriginals to remain on their land

Indigenous Australians deserve an opportunity to help themselves. Some might want a mining job, most do not. Some welcome the ongoing industrialisation of their country, but many think there must be a better way. An impact bond is one way to offer more control to indigenous people over investments in their future. There is risk, of course, but the greater risk is that we continue down the same sorry path we have been on for decades.

A Bran Nue Way ahead, SMH Patrick Read ,Michael Dodson/ IanGill, August 17, 2011“………….The reality is that many indigenous Australians want to remain on their land. They want to lead productive lives caring for their country, not digging it up. To its credit, the Commonwealth already invests in programs – such as indigenous protected areas (IPAs) and Caring for Our Country – that employ indigenous rangers in recognition of their unique knowledge of the land and its cultural and natural resources.

These investments in people-in-place show positive returns in the very areas that otherwise seem to defy the government’s best efforts. In IPA communities, there is evidence of improved diets, more physical activity, greater economic participation, improved early childhood development and reductions in substance abuse among people on country.

The Menzies School of Health Research released a study this year on an Arnhem Land community where health gains and cost savings in reduced treatment of diabetes, renal disease and hypertension were attributed to “maintaining a connection between people and their country. We know it makes sense from a health point of view. This study shows it makes economic sense, too.”……..

We support exploring a radically different option. We propose the creation of an indigenous impact bond, modelled on the early development in England of what are called social impact bonds. An indigenous impact bond, or I2B, wouldn’t magically make government go away, but rather would put corporate and philanthropic capital at risk to create positive social impacts, calling upon government to reward investors only if the social impact is achieved……

Indigenous Australians deserve an opportunity to help themselves. Some might want a mining job, most do not. Some welcome the ongoing industrialisation of their country, but many think there must be a better way. An impact bond is one way to offer more control to indigenous people over investments in their future. There is risk, of course, but the greater risk is that we continue down the same sorry path we have been on for decades.  http://www.smh.com.au/opinion/politics/a-bran-nue-way-ahead-20110816-1iw7j.html

August 18, 2011 - Posted by Christina Macpherson | aboriginal issues, AUSTRALIA - NATIONAL