Current economic practices that depend on fossil fuels, deforestation, excessive use of plastic and chemicals, and land degradation pose a serious threat to our planet’s health, which in turn negatively impacts human wellbeing. In pursuit of economic growth, humanity has disregarded these costs and breached seven of the nine planetary boundaries, signaling that we are operating beyond Earth’s safe limits. The World Health Organization estimates that approximately 13 million deaths each year are linked to avoidable causes, such as air pollution, chemical exposure, and unsafe water and sanitation. Vulnerable countries are disproportionately affected by global environmental change, and even some of the wealthiest countries are experiencing declining health outcomes, primarily due to noncommunicable and lifestyle-related diseases that jeopardize decades of progress.
The frameworks of Planetary Health and the wellbeing economy highlight that we possess the tools and knowledge necessary to forge a new path towards a future where both people and planet can thrive together.
The wellbeing economy alternative
The wellbeing economy framework prioritizes the needs of people and the planet over mere economic growth. It shifts the focus from growth as a primary objective to fulfilling human and planetary needs. Rather than imposing rigid policy solutions, this movement embraces diverse, context-specific approaches developed through democratic processes. A key aim of the wellbeing economy framework is to achieve Planetary Health: a world with regenerated natural systems where all people and nature can thrive for generations to come.
The core principles of a wellbeing economy, as articulated by the Wellbeing Economy Alliance, include
- Predistribution: A wellbeing economy predistributes power, wealth, time, and income, such as businesses owned by their workers and living wages
- Purpose: The primary aim is to enhance human and ecological well-being, such as wider suite of success metrics beyond GDP
- Prevention: It seeks to prevent harm caused by economic activities, such as circular production and consumption
- People-powered: This approach emphasizes active involvement of citizens in decision-making processes, such as through citizen’s assemblies and participatory budgeting
Five countries–Finland, Iceland, New Zealand, Scotland, Wales, and Canada–are participating in the Wellbeing Economy Governance network to put these principles into practice. The principles are intended to support governments in achieving Planetary Health by addressing the health risks linked to pollution, extreme events like wildfires, and climate change.
