REconomy Project shows shift towards sustainable local economies has enormous untapped potential
Transition Network is a charity and social enterprise supporting sustainable local economic development. Its REconomy Project seeks to ‘build the capacity of Transition Initiatives, and other community organisations doing similar work, to grow a new kind of local economy. This vision opposes current economic models that place an excessive burden on natural resources in detriment of social justice and quality of life, favouring the growth of local economies that are environmentally and socially conscious.
The REconomy Project has developed a series of evaluations to estimate the potential value of shifting towards this new perspective, an exercise that also contributes to communicating the importance of this brand of positive change. So far, the evaluation activities have taken place in three communities: Transition Hereford (a rural county), Transition Town Brixton (inner city London) and Transition Town Totnes (a market town in Devon). The diversity of the contexts of these initiatives highlights the untapped potential of adopting sustainable approaches to boost local economies, reduce unemployment and maximise wellbeing.
REconomy is also producing online resources to encourage communities to engage similar evaluation processes, providing pertinent tools for them to assess their potential and take action. The ‘Economic Blueprint’ video series is a part of this aspect of the project.
The Calouste Gulbenkian Foundation has supported Transition Network in the development of its REconomy project as a part of its ‘Greening the Economy’ initiative, which has sought to ‘increase the pace and scale of transition to a ‘greener’ economy, which properly values the resources nature provides’.