Beyond GDP through Inclusive Wealth: Tackling the planetary crisis better

Concern is growing around the use of conventional indicators, notably GDP, to assess the progress of nations. GDP and other short-term indicators lead decision-makers to favor policies with benefits today over those focused on long-term sustainability. While short-term growth as measured by improvements in conventional indicators has long been the focus of governments, leaders increasingly recognize the need to ensure well-being for both the present and future generations. The recent policy brief by the UN Secretary-General invited member states to move beyond GDP by measuring what truly matters for sustainability and prosperity.

This session at the Seventh GEF Assembly will explore the experience of recent applications of expanded wealth framework to complement GDP. Based on the global inclusive wealth frameworks implemented by the UN Environment Programme, the framework complements GDP by measuring the assets that underpin well-being in all its forms: economic, environmental, and social. Partner organizations, IDRC and UNEP, understand the framework's utility and are working with IISD to implement it using country data and expertise. The session will share lessons learned from developing expanded wealth measures and their relevance for policymaking.

Agenda

Opening and context setting

Bhim Adhikari, International Development Research Centre

Expended Wealth measures: national estimates and policy relevance

Rob Smith, International Institute for Sustainable Development

Reflections from Inclusive Wealth Report (IWR) 2023

Doreen Lynn Robinson, United Nations Environment Programme

Questions and comments

Moderation 

Bhim Adhikari