‘Introducing the Impact Economy’, Griffith Centre for Systems Innovation

This article provides an introduction to the concept of the 'impact economy', exploring its definition, relevance, and key components. It offers insights into how this emerging economic model challenges traditional capitalism by integrating social and environmental outcomes with economic activities. Key points include:

1. Definition of impact economy: a holistic approach to value creation that recognises the interdependence of social, natural, human, manufactured, and financial capitals.
2. Context and urgency: discusses the Anthropocene era and the need for economic systems that account for externalities and pursue net positive impacts.
3. Components of the impact economy: explores how business, investment, and trade are evolving to incorporate impact-driven approaches.
4. Considerations for development: outlines key areas for growth including political leadership, mission-led innovation, impact measurement, and technology regulation.
5. Challenges and opportunities: addresses issues of inclusion, the role of technology, and the need for new economic indicators beyond GDP.

The article serves as a helpful primer for understanding the concept of the impact economy and its potential to address major global challenges. It's particularly useful for those interested in how economic systems can be reshaped to better serve people, places, and the planet.