Financial Ecosystems for Systemic Transformation
...creating coherence and impact in a chaotic world of financial transformation.
Why FEST?
FEST (Financial Ecosystems for Systemic Transformation) is accelerating the development of the field of financing systemic transformation. This field comprises all those working for financial transformation to greatly increase the flow of, and ease of access to, finance to address today's polycrisis. This includes private, public and foundational finance.
Financing Systemic Transformation (FST) is integral if we are to address structural social inequality, environmental and economic crises. However, the field of FST is currently underdeveloped in the scale and depth that is required.
FEST's Vision:
A world where financing is provided in the quantity and with the ease necessary to address the need for systems transformation.
FEST is a growing community of practitioners and thought leaders in the Field of FST who are collaborating to accelerate the financing of systemic transformation.
Our Core Approach?
Developing Financial Systemic Transformation Ecosystems.
(the systemic set of roles and relationships that are necessary to create financial systems change)
Defining an Emergent Field
The Field of Systemic Transformation (FST) includes those who hold the following qualities:
- Resolutely committing to systems change and transformation.
- Holding a vision of a flourishing and equitable future.
- Amplifying relationships and actions/projects for systemic impact.
- Organizing financing ecosystems.
(the who!)
FEST's Four Foundational Insights
Finding 1:
A Fundamentally Different Approach to Finance is Emerging
Systemic Transformation Capital is a newly emerging field, which is distinct from "progressive finance".
Finding 2:
System Transformation involves Three Types of Change
System Transformation involves three types of system change (see figure below).
The FST Field currently comprises many experiments and novel ideas that are at various stages of maturing into prototypes – the System Experimentation type of change. FEST is developing System Redesign by creating organizing infrastructure that brings together individual maturing prototypes into collaborative relationships to form a comprehensive new type of financing system. This creates a bridge to Systems Optimization, where the field and new systems for FST can become mainstreamed.
Finding 3:
New Economic Values are Emerging
Within the changing economic landscape, a set of new, transformed values are emerging – which have direct implications on the role and leverage of finance. An example can be seen below.
Finding 4:
FST Ecosystems are Rising
Those developing the field of Financing Systemic Transformation (FST) are developing systems rather than individual adjustments to the traditional system, like creating funds/new pots of money, new deal flows and measurement approaches.
Influential Reports
The FEST community includes and has been influenced by a number of Thought Leaders on the subject of Financing Systemic Transformation. The key influential reports can be found below:
An Investigation into Financing Transformation
Bounce Beyond, Catalyst 2030, Cattail Strategy
Approaching the Tipping Point: Recommendations for building the marketplace for system-level investing.
The Investment Integration Project (TIIP)
Transformative Investment: New rules for investing in sustainability transitions
Penna, Schot and Steinmueller
Financing Transformation: A look at the emerging field.
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