New digital tool helps nations transition to green and fair economy

Last month, Greenhouse collaborated with the Green Economy Coalition to launch a global programme to assess and accelerate the transition to a green and fair economy.

The Green Economy Tracker and the Global Green Economy Barometer 2020 were presented at a dinner organised by André Hoffmann, vice-chairman of Hoffmann-La Roche during the World Economic Forum (WEF) in Davos.

“We will betray future generations if we cling to our current economic model. Green economic reform must be central to the new model of stakeholder capitalism set out in the Davos Manifesto where companies actively set out to improve the state of the world.” – André Hoffmann.

The Greenhouse team supported the campaign through the creation of assets, managing social media, and liaising with international journalists.

We secured 27 pieces of coverage in 15 countries, including AFP, France 24 and Edie, with an estimated online reach of more than 158 million people worldwide.

Green Economy Coalition 

The Green Economy Coalition, (GEC), is an alliance of more than 50 organisations advocating for sustainable development. The high-level group includes global governance institutions, NGOs, researchers, think tanks, businesses and civil society organisations such as Finance Watch, WWF, UNDP and UNEP.

GEC calls for a new approach to managing economies which puts people and nature first in its framework. Principles, priorities and pathways for inclusive green economies: Economic transformation to deliver the SDGs.

Green Economy Tracker 

The Green Economy Tracker is a tool assessing countries’ progress towards greener, fairer economic systems – the first tool of its kind.

National Green Finance Plans By Country

The Tracker is a publicly available online tool that assesses the progress of 20 countries in 5 key areas: Governance, Finance, Sectors, People, and Nature.

It finds that no single country is yet pursuing a deep and consistent green economic reform agenda. It also highlights “best in class” policies that are already driving change towards a safer future and sounds a warning bell where countries are lagging behind.

Green Economy Barometer 

There are indeed some signs of deep economic reform. For example, we’re starting to see the divestment movement growing. With universities such as Harvard, the world’s biggest institutional investor Blackrock, and the Guardian, which have all recently vowed to distance themselves from fossil fuels.

The wider energy transition is also accelerating. With governments increasing their environmental ambitions – India is expected to more than double renewable capacity by 2020, and the EU’s Green Deal supports the development of a power sector that is based largely on renewable sources.

However, the brown economy still reigns. Mainstream economic analysis fails to take nature into account, financial short-termism is prioritised over long-term returns, and it is still cheaper and easier to buy and invest in fossil fuels than in green products.

These are only some of the key findings from the report and the Tracker. You can explore all policy areas here.

The Global Green Economy Barometer 2020 – Recommendations

GEC spokesperson Oliver Greenfield said: “Inequality, poverty, climate change and biodiversity loss are not just connected, they arise from the same root cause: how our economies are organised, ruled and managed. Tackling these problems without economic reform is like trying to build a Tesla with wooden tools.”

Campaign impacts 

During the launch period, our team took over the GEC Twitter and Facebook accounts to promote the Barometer and Tracker to influencers, society and institutions, reaching around 158 million people online.

It was inspiring to see so many people from across all spheres of society engage with this campaign and demand climate action from their politicians. From youth environmentalists (Kevin J.Patel), economists (Anna Pettifor) and UNESCO chair of International Education Simon McGrath, to renowned organisations such as UKSIF and ICCDI Africa.

We are proud to have supported this campaign. Sharing extensive research carried out by the Green Economy Coalition – the result of many years of hard work to challenge the status quo and accelerate the shift towards fairer and greener economic systems, that benefit both people and planet.

Greenhouse PR works with organisations and leaders who are pioneering climate action. Whether it’s food, fashion, finance or farming, if you’ve got a great story and need our help to tell it, get in touch with the Greenhouse team on 0117 214 1250 or email info@greenhousepr.co.uk.

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