The Economy for the Common Good movement was founded in 2010 by Christian Felber in Vienna. It is based on the simple but powerful idea that economic activity should be directly aimed at meeting the common needs of all people and at looking after our planet. Our present economic system, in contrast, focuses on maximising financial value and in so doing confuses means (money) with ends (human and planetary wellbeing).
The movement has grown rapidly and has especially strong roots in Austria, Germany, Spain and Italy. There is now ECG activity in more than 20 countries across the world. Thousands of people have joined and are members of an ECG local chapter in their own communities. Over 500 companies have produced their own Common Good Balance Sheet. Several municipal authorities are now using or promoting the ECG model, including Valencia, Salzburg and Stuttgart.
Supranational bodies have started to endorse the ECG model too. In 2015, the European Union Economic and Social Committee approved it as a valid framework to be used by companies in compliance with the Non-Financial Reporting Directive. In 2019, ECG was invited to present to the United Nations Development Program.