nef e-letter: new, green and co-operative ways to beat the recession

Ethical MarketsReforming Global Finance

January 22, 2009

Tackling climate change will fight poverty and beat the downturn, says nef
It a time of rising unemployment and economic insecurity, some argue that protecting the environment is a ‘luxury’; but a new report, Tackling Climate Change, Reducing Poverty shows that tackling climate change actually offers a huge opportunity to boost the economy and tackle UK poverty at the same time. For example, government investment in home insulation, public transport and community projects to improve local resilience would not only cut carbon emissions, they would also create new ‘green collar jobs’ and help those living on low incomes. The report, from a new coalition of leading UK environmental and social justice groups (convened by Oxfam and nef, including Friends of the Earth and the Royal College of Nursing) called on government to take a joined-up approach to tackling climate change and poverty.

The Herald: Poorest will be hit hardest by climate change, says report
Daily Express: Climate change hits poorest Brits
The Times: Fighting effects of climate change ‘will help poor’

>> take action: The Government has now approved the expansion of Heathrow airport. Greenpeace have bought a plot of land in the path of the proposed third runway. You can help the fight against expansion by becoming a ‘beneficiary owner’ of this land for free by visiting their website.

Government should invest in timebanking: a recession-proof means of exchange
As the world’s financial system teeters on the brink of collapse, we need to support other parts of the economic system. Although we think of the economy in terms of finance and production alone – the market has always depended on the wealth of human resources which make up the core economy. This core economy includes vital activities such as raising children, volunteering to protect the environment and looking after the elderly, but it is rarely valued by economists and politicians. Timebanking is just one way to recognise and reward the activities which make up the core economy. The New Wealth of Time showed how timebanking could be used to strengthen public services and involve people more directly to identify and meet social needs such as unemployment and mental illness.

Read the Compass thinkpiece on Timebanking

How to save the economy: break up the banks

De-merge the banks now in public ownership, launch a new People’s Bank through a revived post office network, and rebuild an effective local lending infrastructure to support the real, local economy. Those are three of nef’s key proposals for clawing our way out of the credit crunch. They dovetail with a range of other proposals – including the Green New Deal – that also address the energy crunch and climate crunch. nef’s From the Ashes of the Crash makes 20 recommendations for breathing life into a phoenix-like new economy in response to Gordon Brown’s call for ‘fresh and innovative intervention that gets to the heart of the problem.’ Support for some of nef’s proposals is already gathering momentum, but as government initiative after government initiative fails – there is still clearly a need for decisive and innovative action – and an opportunity we can and must take to develop a new model for a real economy that works for people and the planet.

Reuters: Crunch predictors proffer radical cures
The Guardian: Cassandra’s leathal paradox

nef reveals why sentencing for women must change
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Every year, thousands of women are locked up for petty offences. For the majority, prison is a revolving door, as they will leave with the same drink, substance and mental health problems with which they entered. Imprisonment is an inappropriate and damaging measure, not only for the women themselves but also for their children. nef’s report Unlocking Value reveals just how counter-productive such measures are – for every £1 spent on alternatives to prison that reduce reoffending, an additional £14 worth of social value is created. Instead, nef proposes more effective alternatives to prison for non-violent offenders, such as community sentences. nef’s Eilis Lawlor appeared on the Today programme to make the case on 25 November. Two weeks later, in a debate in the House of Lords, Parliamentary Under-Secretary of State at the Ministry of Justice, Lord Bach stated: ‘there is a strong economic argument for diverting women from custody.’

Metro: New sentencing for women backed