Helping the homeless in Adelaide through community engagement
We’re all about delivering long-term results for our members. But we’re also about doing it in a way that leads by example, to help create a better future for you, your industry and our planet.
With that in mind we created our $70 million Social Impact Investment Trust in 2015. It is one of the single biggest commitments by an Australian super fund to impact investing. One of the aims of the Trust is to help to develop Australia’s currently small impact investing market.
Under management by Social Ventures Australia (SVA) we have contributed $1.5 million through our Social Impact Investment Trust to help launch the Aspire Social Impact Bond (SIB). Our investment forms part of a larger investment in partnership with the South Australian Government that aims to tackle homelessness.
A home is more than bricks and mortar: it’s safety, stability, and a base from which to navigate the world
With the Aspire SIB we aim to make a lasting difference to the lives of people experiencing homelessness in Adelaide while generating a competitive financial return for our members. The Bond funds the Aspire Program, a ‘housing first’ intervention model that focuses on strengthening participants’ community engagement and employment.
Participants are given stable accommodation, job readiness training, pathways to employment and life skills development. The program also gives each participant a long-term, dedicated ‘Navigator’ to help them connect with wider support services and identify and achieve their goals.
Rising to the challenge laid down by the UN
At HESTA, we use the United Nations’ Sustainable Development Goals (SDGs) as a compass for how we invest, work and advocate. Providing shelter for the homeless supports SDG 11 to make cities and human settlements inclusive, safe, resilient and sustainable.
The Aspire SIB has completed its first year of service delivery and the early results are promising. The program has already generated a reduction in the number of days participants spend in hospital, less convictions and a reduced use of emergency accommodation. The South Australian Government will make payments based upon the level of outcomes achieved.
The program expects to support about 600 adults experiencing homelessness over seven years, and is contributing directly to better outcomes for those in greatest need while generating an investment return.
Your future, better
It’s all about you. From investing your super for positive outcomes, to what we stand for, to how we work: it’s all for future you.
Take a look at some other ways we’re putting you first.