A new international body aimed at promoting social innovation was launched this week at the inaugural Global Governments Summit in Luxembourg, where 51 countries gathered to focus on the role of the social economy in tackling global challenges. The three-day event concluded with the signing of a declaration establishing the Global Governments Council for Social Innovation, which will support governments in developing socially innovative policies.
Hosted at Cercle Cité under the theme ‘Shaping the future of social innovation’, the summit brought together around 100 delegates and government officials from Europe, Asia, Africa, and Latin America to discuss how the social economy – which prioritises social, ecological, and democratic goals over profit – can be strengthened worldwide.
Luxembourg’s Labour Minister Georges Mischo, who initiated the summit, highlighted the urgency of addressing issues such as sustainability, poverty, and working conditions amid what he described as a “strange geopolitical situation”, citing volatile US tariff policies affecting financial markets. He further asserted that “now is the time to act”, emphasising both sustainability and the fight against poverty as key priorities.
Discussions at the summit centred on legal frameworks, funding opportunities, and partnerships between the public and private sectors, as well as between countries. The aim, according to organisers, was to exchange best practices and accelerate the development of inclusive, future-oriented economic models around the world.
In Luxembourg, the social economy already accounts for 4% of the job market and 2% of GDP, with 15,000 people employed and 2,200 organisations active in the field. Mischo said the trend is growing, thanks in part to the rise of the ‘Social Impact Societies’ (SIS), which encourage socially conscious entrepreneurship.
