Inclusive Wealth Indicator
GDP should be complemented, or replaced by an Inclusive Wealth Indicator that reflects the sustainability of natural and human capital as well as manufactured capital, and, ideally, even the social and ecological constituents of human well-being.
The first Inclusive Wealth Report, to debut in full at a joint UNU-IHDP and United Nations Environment Programme event at June’s UN “Rio+20” summit in Brazil, will describe the “inclusive wealth” of 20 nations: Australia, Brazil, Canada, Chile, China, Colombia, Ecuador, France, Germany, India, Japan, Kenya, Nigeria, Norway, the Russian Federation, Saudi Arabia, South Africa, USA, United Kingdom and Venezuela. The 20 nations featured in the report represent 72% of world GDP and 56% of global population.
Authored by 17 specialists from the UK, USA, Chile, Malaysia, India, Germany and Australia, the Inclusive Wealth Indicator is undertaken by UNU-IHDP with UNEP support and in collaboration with the UN-Water Decade Programme on Capacity Development (UNW-DPC) and the Natural Capital Project of Stanford University – and aims to provide national governments with a bi-annual report to assess transition to the so-called green economy and to create productive and sustainable economic bases for the future.