The State of Outcomes-based Finance in Canada

The Sorenson Impact Institute (SII) and the Raven Indigenous Impact Foundation (RIIF) collaborated on a research project focused on Outcomes-based Financing (OBF) in Canada. This involved a deep dive into how OBF is currently used in the country, including its benefits, success factors, challenges, and opportunities. The study also included a comparative analysis with OBF practices in the United States and the United Kingdom. One of the key outcomes of this project was the development of a comprehensive database specific to Canadian OBF initiatives, along with recommendations aimed at improving OBF implementation.

To gather insights, the team conducted an extensive literature review, compiled data from existing OBF contracts, and engaged in virtual interviews with OBF stakeholders from Canada and internationally.

The ultimate goal of this report is four-fold:

  • First, to raise awareness and generate interest in advancing OBF practices within Canada;
  • Second, to improve transparency and accuracy by consolidating findings from research and interviews into an accessible Canadian OBF database;
  • Third, to provide recommendations on what can be done to improve the ecosystem through the understanding of the Canadian environment in a comparative analysis with the UK and US ecosystems; and
  • Fourth, to empower stakeholders to consider OBF as a strategic tool for achieving their organizational goals.

The aim of this collaboration between SII and RIIF was to contribute to the growth and evolution of the Canadian OBF ecosystem, enabling organizations to leverage OBF effectively for positive social impact and innovation.

Our Partners

The State of Outcomes-based Finance in Canada report is a joint research project between the Sorenson Impact Institute and the Raven Indigenous Impact Foundation.

Our Challenge

Gathering data and information on OBF transactions previously conducted in Canada and comparing the state of the field with other leading ecosystems.

Our Work

The Sorenson Impact Institute and Raven Indigenous Impact Foundation created a detailed report and a Canadian-specific database on outcomes-based finance, examining its utilization, benefits, challenges, and opportunities in Canada, along with a comparison to OBF practices in the US and UK.