Prosperity with a purpose (exploring the ethics of affluence)

Product Information

The framework shown in Figure 1 has been developed to bring together the aims, domains and sub-domains of inclusive and sustainable economies in one diagram. Prioritise areas for action – prioritise areas for action based on the above considerations ensuring that effort is targeted towards the areas of greatest need. As we launch our 5th annual Impact Report Prosperity with Purpose 1, it is clear that every pound counts. Our Impact Calculator 2 now shows the impact of an investment over a one-, two- or three-year horizon, across WHEB’s nine sustainable investment themes. Figure 1. Framework to support planning and action on inclusive and sustainable economies. Taking a 6-step approach to using the inclusive and sustainable economies framework and data catalogue

Seek opportunities to achieve social value to generate the greatest possible social, environmental and economic value from public spending. Capitalise on local assets to build community wealth and vice versa: to retain more of the local wealth that they generate and reinvest in community assets that matter to local people. More commonly referred to as impact investing, the idea is that investments can be made into companies to generate a measurable social or environmental benefit, alongside a financial return. Impact investing is gaining traction but monitoring and measuring impact remains a challenge. At the end of December 2018, there were 58 holdings in the portfolio with each company categorised into one of nine WHEB investment themes, relating to seven of the 17 United Nations’ Sustainable Development Goals (SDGs). You can find more specific examples of our underlying investments relating to the relevant SDGs below. 3 An inclusive and sustainable economy is one that works for everyone, with no one being left behind. It also protects the needs of future generations by ensuring that these can be met within the means of our planet.Through action across the 3 domains and 12 sub-domains, an inclusive and sustainable economy strives towards the vision detailed in the outer blue layer, consisting of: https://wedocs.unep.org/bitstream/handle/20.500.11822/26895/EGR2018_FullReport_EN.pdf?sequence=1&isAllowed=y Establish place-based inclusive and sustainable economy networks – building inclusive and sustainable economies requires coordinated and collaborative action across a broad range of cross-cutting sectors. It has become increasingly clear that COVID-19 has had a disproportionate impact on many who already face disadvantage and discrimination. A review of the disparities in risk and outcomes from COVID-19 by Public Health England (PHE) found that its impact has replicated existing inequalities and, in some cases, has increased them. Promote inclusive labour markets to support those who are typically excluded from the labour market into training, volunteering or employment opportunities.

Building inclusive and sustainable economies requires collaboration between a wide range of place-based organisations including local and combined authorities, local enterprise partnerships, sustainability and transformation partnerships and integrated care systems, schools, colleges and academic institutions, voluntary and community sector organisations, social enterprises and local businesses. This report focuses on action at the local and regional level, supporting place-based approaches to establishing inclusive and sustainable economic development. A framework for an inclusive and sustainable economies approach While these numbers seem significant, a critical question is whether these levels of avoided carbon are sufficient to limit global warming to no more than 1.5° Celsius above pre-industrial levels – a level that most scientists consider to be manageable. Once you get wealth, you look for making an impact. There is no TRUE wealth without making an impact. Consult with citizens and communities – adopt a participatory approach through capturing local citizen and community insights.Set a holistic vision – use the inclusive and sustainable economy network to set a local vision which looks beyond gross domestic product (GDP) as a measure of economic success.

There is a social gradient in health: the lower an individual’s socioeconomic position, as defined by their job, qualifications, income, wealth, and where they live, the worse their health. It has been estimated that, between 1 January 2003 and 31 December 2018, over a third of deaths in England were attributable to socioeconomic inequality. Such avoidable inequalities are unjust, and there is both a moral and economic argument for acting at scale to reduce health inequalities. The following 6 steps can be used by local systems to support a place-based approach to using the inclusive and sustainable economies framework and data catalogue to identify shared priority areas for local action.

Ways and Means

We believe that the global economy is in the early stages of a major transition to a low carbon and more sustainable model. WHEB’s investment strategy is wholly-focused on listed companies that are enabling and benefiting from this transition. The difference is a consequence of two factors. Firstly, the strategy has no exposure to heavy carbon emitting sectors such as the energy sector. Furthermore, the strategy has much greater investment, compared to the MSCI World, in low emitting sectors such as healthcare and information technology.

Having personal dreams is good. But if you're married, you need to have dreams AS A COUPLE. Also, make sure you're taking the time to listen to your spouse's dreams. I believe that we are prosperous when we live beyond ourselves. Prosperity encapsulates all areas of life: from our finances to our marriage; our children; the ability to choose our path; and the freedom from spending our life as a workhorse for someone else's dream. When we live in a prosperous way, it attracts favor. Favor allows us to have a positive impact on our entire social network, which may include a city's poor or a nation's heads of state. Consider the 6-step inclusive and sustainable economies approach to support local whole system planning and action on this agenda. PHE has also developed a range of other useful resources to support action on health inequalities. Those resources that are relevant to this approach are described and signposted to in Appendix 3 of the main document. Recommendations for place-based action The indirect impacts of the mitigation measures put in place by the government to reduce the spread of COVID-19 have disproportionately affected those most vulnerable in society. For example, school closures led to a generation of children losing out on months of education, with children from more deprived households having been left at a greater disadvantage to continue their learning from home.An inclusive and sustainable economic approach requires universal action that is proportionately targeted towards the most disadvantaged. Such efforts will help reduce the gap between and within regions, help those population groups that are furthest away from the job market into employment, and contribute to lifting 13.5 million people in the UK out of poverty, 7.4 million (55 percent) of which are in working families. Inclusive and sustainable economies can support COVID-19 recovery Based on the existing evidence base, local case studies and consultation with experts in the field, this report’s conclusion makes 9 recommendations for place-based action. They are proposed as specific actions that can be adapted to local circumstance, building on existing local structures and assets. The Institute for Public Policy Research has predicted an increase in unemployment from 3.9% at the beginning of 2020 to 9.8% in 2021. The retail, tourism, entertainment and hospitality sectors have been the most hard-hit by the economic fall-out of COVID-19 – all of which disproportionately employ low-income workers, women, ethnic minority communities and young people. In an absolute sense, however, the WHEB strategy is a minute proportion of the global economy. In 2018, the WHEB strategy represented approximately just one millionth (0.0001%) of global capital markets. As illustrated above, the strategy’s positive contribution is disproportionate in the context of the broader economy.