18th Jun 2024 Gemini 1.5 Pro
This episode of the Funding the Commons podcast features Samantha Power, a regenerative economist and founder of Finance for Gaia, and Stuart Cowan, executive director of the Buckminster Fuller Institute (BFI). The two discuss their shared vision for a future where bioregionalism and regenerative finance converge to create thriving ecosystems and economies.
Power and Cowan emphasize that bioregions represent more than just geographical areas.
Bioregion is just a way to evoke connection to the world, to life, to place. And so a bioregion is both cultural and physical.
They argue for a more holistic perspective encompassing watersheds, cultural lines, indigenous territories, and even migratory pathways of species. This approach moves beyond rigid political boundaries like nation-states, recognizing the interconnectedness of life and the need for governance models that reflect this reality.
Cowan points out that this requires not just decentralization, but also scaling up to recognize larger living systems like mountain ranges or atmospheric rivers that transcend traditional political borders. This calls for a shift in perspective, acknowledging these entities as living beings worthy of governance and financial support to ensure their health and resilience.
The current moment, marked by climate change, economic inequality, and social unrest, presents a crucial opportunity for bioregionalism to emerge as a viable alternative to failing systems. Power believes this is the opportune moment for bioregionalism to flourish.
Some ideas find a time and then they find their way through us. And I feel like bioregionalism is one of those ideas. This is the moment for bioregionalism to be born.
Bioregionalism offers a path to address these interconnected crises by shifting power to local communities, supporting regenerative economies, and promoting a deeper connection to place.
At the heart of this vision are Bioregional Financing Facilities (BFFs). Power describes these entities as serving a critical role in bridging the gap between large pools of capital and local communities engaged in regenerative work.
BFFs would aggregate capital from various sources, including government funding, philanthropic grants, and impact investors seeking both financial and ecological returns. They would then facilitate the flow of these resources to bioregional projects and enterprises, streamlining access to funding and reducing the administrative burden on local communities.
Power outlines four key types of BFFs, each serving a unique function:
While acknowledging the potential challenges of integrating BFFs within existing systems, Power and Cowan express optimism.
The first attribute of a bioregional financing facility is that it invests according to living systems principles and indigenous wisdom. So I think that differentiates it from local councils and other types of bureaucracy.
They highlight the importance of experimentation, recognizing that the specific form and function of BFFs will vary depending on the unique context of each bioregion. Power's newly launched BioFi Project aims to address these practical challenges, supporting communities in designing, building, and implementing BFFs.
Both speakers see immense potential in emerging technologies, particularly Web3, to support bioregionalism and regenerative finance.
The beautiful thing about Web3 is you can connect value to active flows. Things can be moving, things can be incredibly diverse geographically.
Web3 enables the creation of transparent, secure, and decentralized systems for tracking ecological assets, issuing eco-credits, and potentially even developing local currencies tied to the health of ecosystems.
However, both emphasize that technological innovation must be grounded in Indigenous knowledge and wisdom. They advocate for co-design processes that center Indigenous communities, recognizing their deep understanding of and connection to the land.
This episode offers a compelling vision for a future where finance serves life, supporting the flourishing of both human and ecological communities. By combining the practical tools of regenerative finance with the holistic perspective of bioregionalism, Power and Cowan paint a picture of a more just, equitable, and thriving future. The conversation highlights the importance of collaboration, experimentation, and a willingness to embrace new models for organizing ourselves and our economies in service of a regenerative future.
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