TRANSFORMING OUR ECONOMY SCALING UP THE SOLUTIONS

The document argues that the current global economic system, driven by neoliberal ideology, has failed by causing environmental destruction and extreme inequality. It proposes five key pillars for transformation: ensuring universal public services through tax justice, scaling up social ownership and cooperatives, supporting local markets and fair trade, adopting wellbeing-based economic indicators instead of GDP, and establishing binding international rules to hold transnational corporations accountable for human rights and environmental abuses.

• Neoliberal economic ideology, characterized by liberalization, privatization, and deregulation, has led to severe environmental degradation and wealth inequality, with the richest 1% owning more than the poorest 99%.
• Public services are essential for guaranteeing fundamental rights, but they are threatened by privatization; the report suggests that global government revenue lost to tax havens over 15 years could fund 100% renewable energy in Africa, Latin America, and much of Asia.
• The 'Social and Solidarity Economy', including cooperatives, offers a democratic alternative to corporate models by prioritizing social and environmental goals over profit and egalitarian distribution of returns.
• Local and regional economies are more sustainable than transnational corporate systems because they recycle more revenue back into the community and reduce carbon-intensive transportation.
• The report advocates for replacing Gross Domestic Product (GDP) with 'economies of purpose' and new indicators that value domestic care work, environmental health, and planetary boundaries.
• There is a critical need for a legally binding international treaty to regulate transnational corporations, as many are currently more powerful than the states attempting to regulate them and often operate with impunity regarding human rights abuses.

APA

Carrau, N., & Cossar-Gilbert, S. (n.d.). TRANSFORMING OUR ECONOMY SCALING UP THE SOLUTIONS. Friends of the Earth International. https://www.foei.org/wp-content/uploads/2021/05/foei-transforming-our-economy-EN.pdf

Chicago

Carrau, Natalia, and Sam Cossar-Gilbert. TRANSFORMING OUR ECONOMY SCALING UP THE SOLUTIONS. Friends of the Earth International, n.d. https://www.foei.org/wp-content/uploads/2021/05/foei-transforming-our-economy-EN.pdf.

Wikipedia

{{cite report |last1=Carrau |first1=Natalia |last2=Cossar-Gilbert |first2=Sam |title=TRANSFORMING OUR ECONOMY SCALING UP THE SOLUTIONS |publisher=Friends of the Earth International |url=https://www.foei.org/wp-content/uploads/2021/05/foei-transforming-our-economy-EN.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{carraundtransforming, author = {Carrau, Natalia and Cossar-Gilbert, Sam}, title = {{TRANSFORMING OUR ECONOMY SCALING UP THE SOLUTIONS}}, institution = {Friends of the Earth International}, url = {https://www.foei.org/wp-content/uploads/2021/05/foei-transforming-our-economy-EN.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }