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Abstract

Impact investment is an increasingly popular global trend in which socially-minded investors look to fund businesses and project that not only have the potential for financial return, but also producing societal benefits as well. In the United States, environmental health is a field that has seen limited investment from the private sector, but recent project developments look to change this status quo. Jurisdictions across the country are studying the potential application of Pay for Success (also known as Social Impact Bonds) as a financing mechanism to fund environmental health interventions which result in improved health outcomes for persons with severe asthma. Asthma is the most common chronic health condition for children in the United States, often prevalent in low-income communities with poor housing quality. It is linked to staggering healthcare costs and other related societal burden-- the estimated total incremental cost of asthma in the United States was USD 56 billion in 2007 . The United States healthcare system currently does not provide funding to address the environmental triggers of asthma, and this gap provides an opportunity for Pay for Success to bridge private investment dollars to preventative environmental health services. This paper provides insight into the progress that local communities are making in the development of Pay for Success projects across the country. While each project is unique based on local contexts, there are some shared themes that may inform the further development of these types of projects in the United States and abroad.

Biography

Email: ranorton@ghhi.org