McKinsey & Company

McKinsey on Society


Voices Financing Social Change

An introduction to Social Impact Bonds

In May, McKinsey & Company launched a new report, “From Potential to Action: Bringing Social Impact Bonds in the U.S.,” which is the culmination of 12 months of research and analysis into the opportunity for social impact bonds in the United States.

As part of our Social Innovation practice’s work in innovative finance and social impact assessment, we have conducted extensive research and interviewed more than 125 thought leaders in the government, nonprofit, and academic communities, as well as potential players in the SIB ecosystem, to determine the potential of SIBs in the United States. Our work was done in close cooperation with an advisory group that included representatives from all the stakeholder groups that will be represented in SIBs. This research has resulted in a full assessment of how SIBs would work, including how roles, responsibilities, and capacity would be defined within the system for each type of stakeholder in a SIB partnership.

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