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Building a resilient economy: analysing options for systemic change to transform the world’s economic and financial systems after the pandemic

February 16, 2021
News item image To address climate change and other global challenges fundamental changes in the functioning of the economy will need to take place

This report, from WWF in collaboration with ZOE, Wellbeing Economy Alliance and the New Economic Foundation, tackles the question of how the UK can ‘support a fundamental transformation of its economic system towards a resilient economy’. It outlines a set of policies that could be implemented by the UK government to enable long-term systemic change, for both the domestic and international economy.

The report is split into two sections; the first summarises around 300 proposals that can address the socioeconomic root causes of the climate, biodiversity and health crises, split into four categories: policy, finance, business and citizens, and analysed according to three criteria: relevance to the UK context, COVID-19 recovery suitability, and potential to drive systemic change. The second section proposes eight ‘mutually supportive areas of reform’ that would catalyse a transition towards a resilient economy, including creating a ‘wellbeing budget’ which redefines what is valued in line with enhancing social and ecological wellbeing.

Transitioning to sustainable, resilient economies which foster human and ecological wellbeing is crucial in supporting the upscaling of nature-based solutions; moreover, such a transition is required to enable effective action to mitigate climate change, which is in turn critical to enable ecosystems to continue to provide benefits to humans through nature-based solutions over the next century.

Read the full report here.