A TOOLKIT that will help local authorities move towards a wellbeing economy has been announced by the Scottish Government.

Speaking at the Wealth of Nations 2.0 conference at the University of Glasgow, Constitution Secretary Angus Robertson announced the launch of the Wellbeing Economy Toolkit.

The toolkit is informed by the Wellbeing Economy Pilot project in Clackmannanshire, which saw Clackmannanshire council identify the key policy interventions required to move the region towards a local wellbeing economy.

A wellbeing economy is generally defined as an economic system that serves the collective wellbeing of current and future generations, while also operating within sustainable environmental limits.

Supporters of a wellbeing economy want governments to shift away from measuring economic success purely in terms of GDP and instead consider the overall wellbeing of citizens.

The Scottish Government has previously said that its long-term vision for Scotland is for the country to transition to a wellbeing economy.

However, the toolkit is intended to help regional authorities identify and measure wellbeing metrics such as health, child poverty, and greenhouse gas emissions in order to instigate change and prioritise investment on a more local level.

Robertson was joined by representatives from Wales and Finland – countries which have also committed to moving towards a wellbeing economy – to take questions from young people at the conference.

He said: “The need for a new economic model has never been clearer, and that’s why I think the wellbeing economy approach is gaining so much interest, both here, and around the world.

READ MORE: John Curtice: Scotland's indyref2 choice 'much bigger' than in 2014

“We see that in the growth of Wellbeing Economy Governments - the network of wellbeing economy governments – which began as a coalition of Scotland, Iceland and New Zealand. Since this event was last held in 2020, two more governments – Finland and Wales – have joined, and other countries including Canada are showing a growing interest.

“Creating a wellbeing economy remains a defining mission for the Scottish Government, and it is my firm belief that Scotland could use the powers of independence to achieve that aim more fully.

“Building a wellbeing economy is a huge challenge for any country, at any time. The current crises we are facing make it harder, but they also underline why we need to make this transformation as a matter of urgency.”

It comes as more than 100 organisations wrote to the First Minister calling for an “urgent transition” to a wellbeing economy.

The coalition of trade unions, charities and businesses said that while it applauded the moves taken by the Scottish Government so far, none of it added up to “substantive progress”.

But Jimmy Paul, director of Wellbeing Economy Alliance Scotland, said that the launch of the toolkit was a step in the right direction.

He said: "This practical new toolkit will be an invaluable resource for developing local economic strategies that really work for communities.

“Amidst the cost of living and climate crises, it’s never been more important that economic approaches start with the goal of ensuring we all have what we need to live good lives and protect the health of our natural world, rather than continuing to centre outdated metrics like GDP growth.

“The toolkit could provide a step-change in the way local economic strategies are delivered in Scotland.”