To move beyond GDP, don’t ignore environmental economists
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‘Beyond GDP’ approaches must take natural capital and planetary health into account.Credit: Matjaz Corel/Alamy
The world seems ready to move beyond gross domestic product (GDP), a measure of economic growth, and towards metrics that are more representative of sustainability and people’s well-being. United Nation member states ratified this move in 2024, and the World Bank concurs.
A UN group, tasked last year with recommending how this transition should work, released a draft of its interim report in November last year. A final report is expected on 7 May. The proposed framework has drawn strong reactions from many experts in beyond-GDP metrics, few of whom were part of the group. In short, the report is vastly complicated and untethered from the substantial body of work that has been gathered over many decades in this field.
How to measure a good life — tips for moving beyond GDP