I am thrilled. The public interest group Finance Watch, based in Brussles, launched a first demo version of a citizens‘ dashboard aiming at measuring the various ways that the financial system affects society.
The three dimensions of the project are to define what society wants from the financial system, measure how well the financial system is meeting those goals and change the financial system to make it serve society. Work will take place within these three dimensions in parallel in a continuous improvement cycle. From my point of view, this will be the hard part of the project – keeping up with the data maintenance.
I really hope Finance Watch will get all the support necessary from citizens and NGOs, policy makers, finance practitioners and researchers to get the data and also to continuously adapt the range of topics and update the data accordingly. So far, Finance Watch has worked with more than 20 civil society organisations representing a wide variety of societal interests to compile the Dashboard’s initial indicators, whose data tell us about some of the many and varied ways that finance affects our lives.
What I really like is that the dashboard is targeting all EU member states, leaving behind the national approach that is taken by similar initiatives, like the International Fair Finance Guide for example, which tries to reach bank customers within individual countries.
The prototype of the Dashboard collects indicators to show how the financial sector affects society in a variety of areas, including its contribution to the financing of climate objectives. Currently, indicators are grouped along the following topic areas:
- Power and influence
- Investing not betting
- Stability and size
- Environment and sustainable development
- Jobs and well-being
- Trust and transparency
Here you can explore the demo site: http://www.citizensdashboardoffinance.org/explore-the-dashboard/
If you wish to join the project and contribute as an organization or an individual, please, let the project members know: http://www.citizensdashboardoffinance.org/join-us/