In the face of today’s economic, social, environmental, and democratic challenges, it is essential to accelerate the development of a more inclusive economy

In July 2019, the launch summit of Pact for Impact, a global alliance to promote the social and inclusive economy, was held in Paris. The rationale behind this initiative? The observation that in the face of today’s economic, social, environmental, and democratic challenges, it is essential to accelerate the development of a more inclusive economy, anchored at the heart of territories. To this end, it was also necessary to bring together actors and networks already involved in this process and a significant number of governments in a shared desire to recognise and promote a new, more sustainable economy.

This first summit, under the high patronage of the President of the French Republic and labeled G7, led to the signing of the Pact for Impact Global Manifesto1. Composed of States, international organisations, local authorities, experts and academics, media, businesses and organisations of the social and inclusive economy, this coalition will enable the development of thematic programs (advice, knowledge development and exchange of good practices in different areas: legislation, financing/investment, seed and scale-up, tech for good, gender equality, etc.).

The coalition has also set itself the goal of carrying out concrete actions, such as the creation of an international league of social business incubators. Politically, this alliance aims to put the social and inclusive economy at the top of the global agenda and to demonstrate that this economy can contribute to the achievement of the Sustainable Development Goals. Finally, it will work towards the adoption of a UN resolution to recognise the concept of social economy and thus enable its development through regulatory and financial tools.

Sarah Prince-Robin
Diplomatic Adviser
French High Commissioner for SSE and Social Innovation

Footnote

1. https://pact-for-impact.org/wp-content/uploads/2019/07/Manifeste-Pact-for-Impact.pdf