The New Economics Foundation (NEF) is a progressiveBritishthink tank that aims to create a new economy that works for people and within environmental limits. Its produces research and policy, supports on-the-ground projects, and undertakes campaigning and consultancy work.
The foundation employs 43 members of staff at its London office and is active at a range of different levels. Its programmes include work on wellbeing, its own approaches to measurement and evaluation, sustainable local regeneration, its own forms of finance and business models, sustainable public services, and the economics of climate change.
History
NEF was founded in 1986 by the leaders of The Other Economic Summit (TOES) with the aim of working for a new model of wealth creation based on equality, diversity and economic stability.
The organisation has launched a range of new organisations to promote its ideas, including the Ethical Trading Initiative, AccountAbility, Time Banking UK, London Rebuilding Society and the Community Development Finance Association.[citation needed]
The organisation's projects have included work on community-based housing, worker organising in the digital economy, restoring local banking and analysing the impacts of energy crises. It is also active in community economic regeneration.
The foundation's BizFizz programme, an entrepreneurship development programme, has created more than 900 new businesses in deprived areas, and the organisation has now taken this – and Local Alchemy – to six other countries through its international programme.[citation needed]
Following its Ghost Town Britain reports, NEF helped establish the Local Works campaign in 2003 to support proposals for greater local control over economic and public services policy. That campaign later supported what became the Sustainable Communities Act 2007 and its organiser was Ron Bailey.
The foundation's public events attract well-known speakers. Its clone town campaign in favour of local economic diversity was covered two years running by every major national newspaper and TV news station and was taken up in the Save Our Small Shops Campaign in the Evening Standard.[citation needed]
Work
NEF supported the National Programme for Third Sector Commissioning with research and reporting on how best the Third Sector could evidence its wider impact on public services and their delivery. This underpinned the Office of the Third Sector's work programme on third sector commissioning from 2009.
The Oil Depletion Analysis Centre (ODAC) was founded by Sarah Astor and Colin Campbell. In his book – Oil Crisis – Campbell explains that the Astor family wanted to establish and provide funds for an institute to raise awareness on this issue of oil depletion and peak oil. The first director was Roger Bentley.
In 2004, ODAC sponsored Chris Skrebowski's report, Oil Field Megaprojects, which analysed data from 68 oil production projects, and in November 2005, ODAC published a report after conducting a survey, led by Chris Skrebowski, which concluded that oil supply will not meet demand by 2007–08. In June 2007, a report authored by Campbell predicted that peak oil would occur within four years.
In February 2010, the foundation called for gradual transition to a working week of 21 hours as a way to tackle "overwork, unemployment, over-consumption, high carbon emissions, low wellbeing, entrenched inequalities, and the lack of time to live sustainably, to care for each other, and simply to enjoy life". In 2012, Anna Coote, then head of social policy at the foundation, said this could be done as a three-day week. NEF stated a 21-hour work week would provide a better work–life balance, better balance work hours across the population and help towards a more sustainable, less carbon-dependent economy. A three-day work week has also been support by sociologist Peter Fleming in his 2015 book, The Mythology of Work.
Funding
The New Economics Foundation has been rated as "broadly transparent" in its funding by Transparify and has been given an 'A grade' for funding transparency by Who Funds You?.
↑The Sustainable Communities Bill(PDF) (Report). Research Paper 07/06. House of Commons Library. 15 January 2007. Retrieved 5 June 2026. The campaign was started by the New Economics Foundation in 2003 ... The New Economics Foundation plays a leading role in the campaign ... Local Works Campaign Organiser, Ron Bailey
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