Anybody can issue Social Policy Bonds, not just government. Indeed, I now think it's more likely that private groups will be the first to do so.
If you are interested in getting together with others to solve a particular social or environmental problem, I suggest you first read this 18-page pdf paper on Female Literacy Bonds and the pdf for Chapter 7 of my book, which you can download from the Links to chapters tab under The book, on the left-hand menu. Then feel free to contact me. Let me know if you have funds available for redeeming Social Policy Bonds and if you have any particular social or environmental goal in mind. As well as female literacy in developing countries the Social Policy Bond concept could be deployed to bring about world peace (the bonds reward extended periods during which no major political conflict occurs), or peace in the Middle East (the bonds would reward cuts in numbers of people killed), or to improve the water or air quality of particular cities or regions. The possibilities are endless!