On December 15th, WISE is pleased to host Sankaran Ramalingam, President, Energy and Fuel Users Association of India (ENFUSE) for a public lecture entitled, 'Energy Economics - Towards Sustainable Development & A Green GDP'. Current methods of calculating economic growth fail to account for environmental depletion, degradation and loss of biodiversity. In turn, industrial development and economic growth are reflective of the creation of material wealth but fail to cultivate environmental and social gains.
The growing discourse on sustainability has sparked attempts to recast traditional means of calculating GDP which account for the environmental factor. This new approach, commonly referred to as the ‘Green GDP’, seeks to broaden the scope of this measurement through the addition of social and environmental dimensions to what was once a solely monetary value. Growing evidence suggests that limits to future growth will be defined more by vulnerabilities flowing from social inequities, environmental degradation and climate change than any other factor.
This discussion advocates a paradigm shift ushering in strong market drivers to support corporate action for evolving a Green GDP Economic Model. Deliverables such as policies, regulations, and corporate affairs will all be addressed as an integral part of developing a Green GDP and inclusive growth model.