With growing calls to move beyond GDP as a measure of national progress, the International Institute for Sustainable Development convened a seminar to explore the adoption of an inclusive wealth index.
Fostering fair and sustainable economies is one of the strategic priorities of the International Institute for Sustainable Development (IISD). The seminar explored the adoption of ‘inclusive wealth’ as a means of moving beyond GDP as a measurement of progress.
While agreement is growing that countries must move beyond GDP and adopt new measures of progress, just what those measures should be remains a matter of debate. Among the handful of credible alternatives to GDP is inclusive wealth—a powerful measure of sustainability. Inclusive wealth comprises the assets that underlie human well-being: natural, human, social, produced, and financial capital. Despite this, no government today measures inclusive wealth.
This session was moderated by Pedro Conceição, Director, Human Development Report Office, UN Development Programme. He was joined by:
- Lynn Wagner, Senior Director, International Institute for Sustainable Development (IISD);
- Diane Coyle, Bennett Professor of Public Policy, University of Cambridge;
- Bambang Brodjonegoro, Lead Co-Chair, T20 Indonesia, and Professor, Universitas Indonesia; and
- Pushpam Kumar, Chief Environmental Economist and Senior Economic Advisor, UN Environment Programme.
Speakers described what inclusive wealth was, how it relates to the sustainability of well-being and how government policies would differ if inclusive wealth, rather than GDP, occupied the “center of decision makers’ dashboards.”
The event took place in a virtual format on Monday, 13 June, at 8:00 am EST.
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