Harnessing the potential of social economy to generate an encompassing triple transition: social, green and digital

Social economy (SE) is an economic system that promotes sustainable and inclusive development and makes a relevant contribution with regards to the major challenges facing economies and societies. These are organizations with their triple differentiating characteristics: a) the pursuit of the collective interest of their members, b) the general economic and social welfare interest as they carry out economic and business activities for the market, and c) while meeting the needs of society, generating wealth and opportunities for development at individual and social level. Their primary purpose is social, thus its name, so the social economy enterprises (SEE) requires differential organizational and governance models based on specific values and operating principles. It is precisely this triple dimension and its differential characteristics that produce very positive socio-economic effects, recognized by the different international organizations, the countries and the European Union itself. In fact, the European Union envisages social economy entities as proactive actors in achieving what is known as the triple transition: social, environmental and digital. Recent crises, have led to a profound questioning of conventional growth and development strategies, and a reflection on the role social economy may play due to its double social and economic dimension and the positive impacts it generates, as analyzed in the article. Among others, employment is one of the most decisive mechanisms for a more just and cohesive society, where social economy has a very important role worldwide. So, the European Union Policy and its European Action Plan for Social Economy aim to increase the development of this business model, precisely in order to improve its impact on employment and social cohesion. The article reflects and analyses on these topics focusing on the transformative role of social economy as a key driver of a more just and cohesive society and the triple transition.