"Generally degrowth challenges the hegemony of growth and calls for a democratically led redistributive downscaling of production and consumption in industrialised countries as a means to achieve environmental sustainability, social justice and well-being. Although integrating bioeconomics and ecological macroeconomics (Victor, 2009; Jackson, 2011), degrowth is a noneconomic concept. On one side, degrowth is the reduction of energy and material throughput, needed in order to face the existing biophysical constraints (in terms of natural resources and ecosystem’s assimilative capacity).
On the other side, degrowth is an attempt to challenge the omnipresence of market-based relations in society and the growth-based roots of the social imaginary replacing them by the idea of frugal abundance. It is also a call for deeper democracy, applied to issues which lie outside the mainstream democratic domain, like technology. Finally, degrowth implies an equitable redistribution of wealth within and across the Global North and South, as well as between present and future generations. Degrowth sees itself as an ally of
the global environmental justice movement with strong roots in the South. It applauds initiatives such as the Yasuni ITT proposal in Ecuador and other similar attempts to ‘leave oil in the soil, coal in the hole’, South or North." (Demaria et al, 2013. Available at: https://www.degrowth.info/wp-content/uploads/2014/07/What_is_Degrowth_FDemaria-2013_Env_Values-libre.pdf) 

More info at: 

http://degrowth.org/

https://www.degrowth.info/en/

 

More to read: 

Giacomo D’Alisa, Federico Demaria, Giorgios Kallis (Editors) Degrowth – A vocabolary for a new era. Routledge
This overview of degrowth covers the main topics and major challenges of degrowth in an accessible manner. It offers and explains a set of keywords important to the ongoing degrowth debates.

Demaria et al. 2013: What is Degrowth? From an activist slogan to a social movement. Environmental Values Vol.22, No.2, 191-215.
In this article the definition, origins, evolution, practices and construction of degrowth is discussed by members of Research & Degrowth. Degrowth’s multiple sources and strategies are explained and its basic definition is improved, not at last with the aim to counter reductionist criticisms and misconceptions.