Key Takeaways & Recommendations:

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A Crossroads for the Global Economy & Financing for Sustainable Development: The event highlighted the urgent need to redefine economic success by prioritizing human well-being, social equity, and ecological health over traditional growth metrics. It also emphasized aligning development financing with priorities that create real value for long-term sustainability.  

• Rethinking progress metrics: GDP’s inadequacy as a measure of success and holistic well-being was critiqued, with calls for alternative frameworks that incorporate natural, social, and human capital (beyond financial and economic).

• From extraction to connection: Indigenous wisdom inspired discussions on shifting from extractive models to systems promoting harmony, circularity, sustainability, and community well-being. The discussion highlighted how resource extraction disproportionately affects the Global South.

• Urgency of action: Echoing the warnings from the 1972 Limits to Growth report, participants underscored that tipping points are imminent, calling for immediate systemic change starting by addressing debt, inequality, and untaxed corporate profits.

• Empowering youth and intergenerational collaboration: Participants highlighted the importance of engaging young voices and providing them with adequate economic and educational tools to build sustainable post-GDP societies and systems.

• Bridging global and generational divides: A call was made for collaborative efforts to bridge divides across geographies and cultures, emphasizing moral responsibility and shared humanity as essential to driving systemic transformation.

• A paradigm shift in values: Going beyond GDP and aligning financing with long-term sustainability is a moral duty that requires policymakers and leaders to start meaningful action and practice these values. Promoting a values-based approach was discussed as an emerging principle to integrate into future discussions on financing for development.  

• Call to action: Participants concluded the dialogue with a collective resolve to challenge entrenched norms and advocate for systems that prioritize equitable development, which balances meeting the needs of current and future generations.

In-depth Summary

1. A Global Economy at a Crossroads

Imagine a world where forests are valued for the oxygen they provide, not just the timber we extract from them. Where economic success is measured by human well-being, social equity, and ecological health rather than the narrow metric of GDP. This vision set the stage for a transformative What’s Next inter-generational dialogue hosted by the Beyond Lab during the 2024 Building Bridges Week. The dialogue convened policymakers, economists, changemakers and youth to tackle the limitations and shortcomings of current economic and financial systems. The event served as a ‘safe space’ and platform for bold ideas and candid dialogue to reimagine progress for the 21st century. As one participant encapsulated the stakes:

“This is not just about balancing ledgers—it’s about creating systems that allow all nations to meet their development needs while safeguarding our shared future.”

The urgency of the moment was palpable, with discussions revolving around systemic barriers, the morality of current economic frameworks, and the need for collaboration across generations and geographies.

2. From Extraction to Connection

Early in the discussion, a powerful theme emerged: moving from the relentless pursuit of ‘better’, bigger, faster, and more profitable toward the concept of ‘good living’. Rooted in indigenous wisdom, this principle suggests that by striving for a good life instead of a ‘forever better life’, we can create systems that prioritize harmony, community, and sustainability over extractivism and consumerism.

“If we are so focused on living better, on bigger and faster, we’ll never figure out how to live good. This emptiness drives extractivism and debt cycles, especially in the Global South.”

Discussions highlighted how the current economic paradigm is deeply rooted in extraction and disproportionately impacts the Global South. These nations, often burdened with debt and resource pressures, are trapped in unsustainable development models imposed by external forces.

Participants also questioned the way the global financial system defines risk and assigns value. Forests, oceans, and ecosystems, all critical to sustaining life, are often deemed invaluable when alive, yet gain economic value only when exploited. The call to shift this mindset was clear:

“Why do we value a tree only when it’s cut down instead of when it’s giving us life?”

Finally, participants noted the vital role of indigenous communities, who, despite making up only 5% of the global population, protect 80% of the world’s biodiversity. Their knowledge and stewardship are indispensable for sustaining life on Earth.

3. The Clock is Ticking

Urgency was a recurring theme throughout the dialogue. Fifty years ago, the Limits to Growth report by the Club of Rome warned of the dangers of unchecked growth. Today, participants agreed that the luxury of time has run out, with six out of nine planetary boundaries already crossed:

“Unlike fifty years ago, when seminal reports were released, we no longer have another fifty years. Every scenario shows that tipping points are imminent.”

This urgency extends to addressing systemic barriers, such as increasing levels of debt and untaxed corporate profits. Participants called attention to the moral failure of allowing private creditors to control the financial futures of entire nations. Meanwhile, industries like oil and gas continue to generate billions in untaxed windfall profits, ignoring the need to phase out fossils fuels and exacerbating inequality and ecological harm.

The discussions made it clear that addressing these injustices is not only a moral imperative but a practical necessity for sustainable transitions to take place.

4. Valuing the Invaluable: Moving Beyond GDP

"GDP rises when disasters strike—from wars to wildfires—highlighting the inadequacy of this measure as a proxy for progress and human and planetary well-being."

The limitations of GDP as a measure of progress were a key focus of the dialogue. Participants emphasized the need for alternative indicators that capture and better reflect human well-being, social equity, and environmental health. At the same time, they acknowledged that GDP’s success as a dominant metric offers lessons for developing new frameworks:

“The economic system is something we’ve created to make sense of how we interact on this planet. Therefore, it can be changed. This isn’t a revolution—it’s an update to include the things we care about.”

Concrete examples of progress were shared, such as governments adopting well-being economic frameworks that prioritize resilience. These systems have demonstrated superior outcomes during crises like COVID-19, yet scaling their broader implementation and adoption remains a challenge.

The discussions equally underscored the importance of embedding a more holistic framework of sustainable development—one that includes natural, social, and human capital—into economic and financial decision-making. Participants highlighted the need for actionable steps, including the establishment of appropriate incentive structures and accountability frameworks, to align global systems with long-term sustainability.  

5. Empowering the Next Generation

Youth participants brought a mix of frustration and hope. Many young people in attendance expressed their dissatisfaction with traditional education systems, which fail to equip them to address the challenges of a post-GDP world:

“We don’t know how to move beyond GDP because traditional education doesn’t teach us. It’s time for systems to align profitability with sustainability.”

The conversation explored the power of imagining collective and constructive futures as a catalyst for change. Indigenous wisdom, particularly the principle of thinking seven generations ahead, was invoked as key guiding framework:

“Vividly imagining the futures is powerful. It engages parts of our brain that foster creativity and collaboration. Let’s envision a world where humanity thrives within the nine planetary boundaries.”

This intergenerational dialogue underscored the importance of equipping and empowering young leaders with the tools, knowledge, and platforms they need to re-claim agency and drive long-term and meaningful action.

6. Bridging the Divide: A Blueprint for Systemic Change

“The Global South shoulders an unsustainable debt burden, with private creditors like asset managers holding a significant portion of these loans.”

The dialogue concluded with a powerful call to action: to bridge geographical, generational, and systemic divides, and work collectively to reimagine economic systems.

“This is not just about systemic shifts but about a paradigm shift. We must redefine moral values and translate them into action, from individual behaviors to global frameworks that define economic and financial activity.”

Participants reflected on the importance of moral responsibility and values in reshaping future economic and financial systems:

“How do we change the bottom line to a bottom line based on value? First, we must figure out what our human face is and how we can walk the talk.”

While the challenges are immense, the dialogue reaffirmed that change is not only possible but already underway.  

Conclusion: The Path Forward

The Building Bridges dialogue underscored that transforming economic and financial systems is not just an abstract debate, it is both an existential and moral necessity, rooted in the urgency of deep social transformations and ecological collapse. It requires rethinking what we value for the inter-linked well-being of people and planet, redesigning systems around those values, redefining how we measure progress, and committing to collective action for systemic change for long-term sustainability.

“This is a call to action to ensure that future generations inherit a world where they can thrive.”

As the event drew to a close, a sense of quiet determination filled the room. Participants—ranging from policymakers to young changemakers—shared a common understanding: the road ahead would be challenging, but the stakes could not be higher.

One speaker reflected on the generational duty to protect our planet: “Imagine a world where a child born today can grow up breathing clean air, drinking safe water, and living in harmony with thriving ecosystems. That world is within our reach, but only if we act now.”

The session ended not with finality but with a spark of hope and resolve. Attendees carried with them the understanding that shifting entrenched systems requires more than policy, it requires courage, collaboration, and a reawakening of shared humanity.

The message was clear: the time for half-measures has passed. True progress demands systems change, a paradigm shift where sustainability, equity, and resilience are not just aspirations but the ‘lighthouse’ or guiding foundation of our global systems. The call to action echoes beyond the walls of the event:

“It is up to each of us to challenge entrenched norms, advocate for change, and reimagine a world where humanity thrives, today, tomorrow, and for generations to come.”  

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