Evidence suggests small to medium-size enterprises in the Global South are prioritizing social and environmental impact over economic growth.
The ‘post growth’ agenda envisions a future where economies do not grow infinitely. Degrowth is one of many routes to get there — by reducing the use of finite natural resources and addressing the social inequity that is inherent to the quest for endless economic growth.
Much of the post growth and degrowth discourse comes from the Global North, often with little regard to existing approaches in the Global South and its context specific challenges. The Global South is in fact home to a range of business model alternatives to economic growth, especially among smaller and medium-sized enterprises — many of which are democratically owned or grassroots organizations. The region faces disproportionate ecological and societal challenges, and is therefore uniquely placed to lead the world in the transition away from growth-based success metrics.
While the transition to renewable energy will play a crucial role in the emergence of a post-growth future in the Global South, investors and development organizations from the Global North continue to impose growth-based key performance indicators (KPIs). This approach disregards the challenges of local contexts, and obfuscates alternative, “unconventional” ways of doing things. In their 2019 article, Performance Beyond Economic Growth: Alternatives from Growth-Averse Enterprises in the Global South, Cle-Anne Gabriel, Samira Nazar, Danfeng Zhu, and Jodyanne Kirkwood analyze examples of renewable energy enterprises (REEs) in the Global South that look beyond economic growth for key indicators of success.
How important is economic growth to enterprises in the Global South?
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