Photo: Gerd Altmann | Pixabay
The city of Chicago, Illinois, US, recently attracted attention with their $160 million “social bond” issue; the bond sale attracted a swarm of individuals and households who want their money to do more than just earn tax-free income. In this case, the bonds’ proceeds are earmarked for a variety of urban social goals, including affordable housing, vacant-lot cleanup and the planting of 15,000 trees. Clearly, there is a nationwide pool of socially conscious investors seeking ways to put their money to work for the greater good. According to governing.com, if social bonds are to prove more than a passing experiment, the public finance community needs to provide a communications platform that fosters effective promotion nationwide, so socially conscious investors can easily find these types of investment opportunities.
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