Beyond GDP Measurement and Investing in Inclusive Wealth: Implications for Decision-making

The T20 Summit 2022 gathered world-leading thinkers, policymakers, and experts to discuss the latest research-based policy recommendations and matters of global importance that can be adopted by the G20 leaders—leading to the official T20 Communiqué. The Summit also served as an interactive platform for peers to advance and share ideas on building a more prosperous, sustainable, and inclusive world.

As part of the T20 Summit, IISD joined with peers for Beyond GDP Measurement and Investing in Inclusive Wealth: Implications for Decision-making on Monday, 5 September 2022. This 90-minute panel discussion (part of Parallel Session 2) explored how moving beyond GDP-biased policymaking toward a wealth-valuing system will improve long-term decision making, including financing for the Sustainable Development Goals, touching on questions such as:

• How might it be easier to secure funding for the SDGs if creating inclusive wealth were a central objective of nations? 
• How might the climate crisis be handled differently if a stable climate were seen as an essential element of national wealth? 
• How might education be viewed if human capital were widely understood to be the more important asset a nation can have?
• How could monetary policy be used to maximize the inclusive wealth portfolio?
• What lessons can be taken from the pandemic response for the maximization of inclusive wealth?
• What can be done to reduce inequality across the inclusive wealth portfolio?

Distinguished panelists leading the beyond GDP conversation at an international level included:

• Prof. Bambang Brodjonegoro, former Minister of Finance, Indonesia
• Dr. Radhika Lal, UNDP
• Dr. Matthew Agarwala, Bennett Institute, University of Cambridge
• Prof. Dennis Snower
• Dr. David Kaczan, Senior Economist, Environment and Natural Resources, World Bank
• Mr. Rob Smith, International Institute for Sustainable Development