It was just the beginning of London Climate Action Week. I watched people rush from event to event before making their way to P4NE’s Summer Drinks. Some came by bike, some arrived sweaty from the tube on what was recorded as the hottest day in June (23 June 2026).
Slightly after 6 pm, our hideaway venue was full with over 120 participants. Sheltered by a canvas with a breeze drifting in from the canal, cool drinks in hand, we all had a moment to slow down and connect with old and new faces. Philanthropic foundations, policymakers, academics, and grassroots movements came together, all in one place.
Credit: Georgie Gillard / Story Picture Agency
Jo Swinson, our director, opened by telling the story behind this magical space. Camley Street Natural Park, tucked near London’s King’s Cross and St Pancras stations, was once a derelict coal drop yard. A local student, Jacqui Stearn, had the vision to transform it into a community space that could benefit both nature and people.
“This transformation serves as a metaphor for what we need to create out of the rubble of our current economic system that is creaking at the seams, that is showing every day how unfit it is to meet the needs of people and other living beings on this planet.”
“We need to create something new and we need to do it with communities, bit by bit, including at local level, and with the active involvement of democratic structures too.”
Much like Camley Street itself, the mission of P4NE is to cultivate the conditions for economic system change. We have been around for 11 years as an international funder collaborative, and it is wonderful to see our network growing. Half the room were newcomers to a P4NE event, and we were truly grateful to have them with us.
Another highlight was a speech from Prof. Mariana Mazzucato, founding director of the UCL Institute for Innovation and Public Purpose (IIPP), an institution at the vanguard of new economic thinking and practice. As one of our long-standing grant partners, P4NE has supported the institute for years, particularly on their monetary policy work. Wewere all excited to hear her speak about the themes in her new book:
“The reason I actually wrote The Common Good Economy is that I don’t think we’re very good at that (empathy) in economics. When we talk about good, it’s often just a correction to a market failure. Public good sounds great, global public goods even better. But it’s just correcting for something the private sector doesn’t do. That’s why we have so many philanthropists in the room.”
The Common Good Economy concept advocates for building on-the-ground capacity and capabilities that truly deliver for people. Drawing from political philosophy, it emphasises the importance of both the telos (goal) and the polis(community and polity), meaning the relational value and how people work together are just as crucial as the ultimate objective.
Rather than merely correcting market or government failures, the framework calls for proactively building the common good through integrated relationships across public, private, capital, and labour sectors.
The urgent global challenges we face demand a shift away from dysfunctional, parasitic partnerships towards truly symbiotic, reciprocal, and transparent collaborations that build capability on the ground.
Mariana also highlighted the need for greater transparency and accountability within the philanthropic sector itself:“How can we make sure that you yourselves are not part of the problem, that you’re part of the solution? I really welcome even just the concept of partners, partners for a new economy, and making sure that we start actually building more symbiotic ecosystems.”
“That would be one of the most revolutionary things you can do, to build both the capability and the confidence to strike much better deals for those outcomes that all of us care about.”
The sun was still strong past 7 pm. We invited everyone to explore the nature reserve with a question to sit with:“What’s the thing you’re working on right now that you haven’t quite found the right words for yet?”
Some quietly walked together through the wild. And we were not alone. Birds and foxes surprised us more than once, making us realise this was really their home and we were simply guests. Others stayed, enjoying good conversation and music from our DJ.
Did I forget to mention the pizza? A vegetarian pizza van kept baking right through the evening, serving everyone without pause. Towards the end of the night, a few leftover pizza boxes were happily claimed, and herb plants from our decorations were adopted by guests on their way home.
This is the spirit of our new economy partners and friends, the thing that fills our hearts every time. This is why peer exchange matters so much in an unravelling and uncertain world. And at the same time, the challenges keep us alive and wanting to fight back even harder.
Photo Credit: Georgie Gillard | Story Picture Agency
Mai Colamorea
Communications Manager