1. Framing: Ultimate goal Living within environmental limits - Resources - Money /investment - Decision-making - Institutions Economic activity at a scale to maximise social, environmental benefits. Well-being

2. Strong Local Economy High levels of Well-being for all within ecological limits Positive Local Economic Outcomes Promoting a diverse, low carbon economy with equitably shared returns Positive Social Outcomes Promoting a fair, equal society, supporting high levels of well-being Positive Environmental Outcomes Safeguarding natural resources, living within ecological limits What does this look like? Distinctive identity Good jobs Strong local multiplier Diversity of sectors & ownership A balanced regional economy Appropriate scale of production of goods and services Well-being Shared ownership & control over key economic resources Ability to effect change Interdependence – conscious collaboration Ecology & biodiversity Efficient resource use Adaptation to climate change

3. Strong local economy – economic factors only People are doing well financially Diverse, resilient business sector Strong supply chains, good money flows Sustainable resource use

4. Democratising Economies In a market-based approach individuals exert their influence over economic decisions primarily as a consumer, rather than as workers and citizens. What would an economic system look like that was built on democratising economic decision-making?

5. Ownership of Assets To develop an economy we need access and control over key productive resources including land, buildings, finance. How should land in our area be owned, used, governed if we are to develop an economy where everyone has equal opportunities?

6. Financial Systems What would a finance system look like that supported local economies, provided patient capital to enterprises with positive social and environmental outcomes, supported people to invest in their local area, provided affordable credit to individuals?

7. Business models How would a business model that was designed to maximise positive social, local economic and environmental outcomes operate? How generate enough good jobs in our area?

8. Key questions: o What materials are used in the product? o Can the product be easily disassembled? o Can components be separated for reuse? o Is the product repairable? Traditional economies have a linear - make, use, dispose model A circular approach aims to keep resources in use for as long as possible, extracting the maximum value from them whilst in use. The focus is on durability, re-use, remanufacturing. Increasing the resource efficiency innovateUK.org Circular Economy