Scotland is at the forefront of a transformative approach to local economic development, and we’re excited to announce the launch of the IS Community Wealth Building Project to support this.
What is Community Wealth Building?
Community Wealth Building (CWB) is a globally recognised economic development model aimed at addressing deep-rooted systemic challenges faced by local, regional, and national economies. It does so by examining how wealth is created, circulated, and distributed. Using a structured five-pillar model, CWB focuses on practical, intentional actions to keep more wealth within communities. This includes generating fair work opportunities, supporting the growth of local businesses and inclusive business models, and transferring more assets into the hands of local people and communities. The goal is to ensure that collective wealth serves people, places, and the planet more effectively.
The Scottish Government views CWB as a vital tool for tackling the challenges of post-COVID recovery, the climate crisis, child poverty, and persistent inequalities. Several local authorities have already led the way participating in Scottish Government-supported pilots to create Community Wealth Building action plans, with similar work undertaken in local authorities across the country.
The National Strategy for Economic Transformation (NSET) outlines a vision for redesigning the economic system around the principles of a wellbeing economy. This goes beyond merely redistributing wealth; it embeds wellbeing into all aspects of the system, ensuring the prosperity of current and future generations is balanced with equality, sustainability, and resilience.
This is an exciting time for Community Wealth Building (CWB) in Scotland, as momentum continues to build with the forthcoming introduction of the Community Wealth Building Bill. This landmark legislation represents a significant step forward in embedding CWB principles into Scotland’s economic framework.
What does the CWB project and role involve?
To support Scotland’s CWB journey, the IS Community Wealth Building Project is focused on supporting local authorities in implementing CWB.
Our Community Wealth Building (CWB) Project Officer, Mia Duncan, will support local authorities in Scotland to deliver CWB initiatives. This involves ensuring that best practices are shared, challenges are addressed collaboratively, and progress is mapped at a national level.
Key aspects of the work will include:
- Facilitating collaboration: supporting local authorities to come together to share experiences, develop solutions to challenges, and tackle barriers to CWB implementation.
- Knowledge sharing and alignment: ensuring that there is an up-to-date, national overview of CWB implementation.
- Integrating policy areas: CWB doesn’t exist in isolation. The project will work to connect it with other key policy areas—such as child poverty, and net-zero strategies—that both support and are supported by CWB approaches. These connections will ensure that CWB delivers maximum impact while contributing to wider national goals.
- Showcasing best practice: by identifying and sharing examples of successful CWB initiatives, local authorities and public bodies across Scotland will have access to the tools and insights they need to succeed in their communities.
Get in touch
Are you working on initiatives that align with CWB? If so. please get in touch with Mia Duncan to discuss how we can collaborate.