09/21/2024 | Press release | Distributed by Public on 09/21/2024 19:44
Concern is growing around the use of conventional economic indicators to gauge and guide national development, notably GDP. Conventional indicators like GDP lead decision-makers to favour policies with short-term benefits over those focused on long-term sustainability. While boosting short-term output growth as measured by GDP has long been the focus of economic policy, national and global leaders increasingly recognize the need to secure well-being for both present and future generations.
The UN Secretary-General has identified "complementary measures to GDP" as a key step for accelerating the achievement of the SDGs and leaving no one behind. Furthermore, the co-facilitators of the Summit of the Future released a zero draft of the Pact for the Future that specifically calls for the development of measures of progress on sustainable development that complement GDP to measure what matters to people, the planet and the future (p.18).
With the support of the International Development Research Centre (IDRC), the International Institute for Sustainable Development's (IISD) work shows that the development and application of comprehensive wealth indicators to complement GDP is possible using existing data. The event will especially draw on recent IISD reports measuring changes in comprehensive wealth in Ethiopia, Indonesia, and Trinidad and Tobago.
Opening remarks
Brief presentation on Building Beyond GDP Tools in Indonesia, Ethiopia, and Trinidad and Tobago
Panel discussion
Discussion questions:
Closing remarks and next steps