Our current global measurement for progress is GDP (Gross Domestic Product), which measures the value of goods and services within the economy. It has been argued for a long time that GDP is far too narrow a measurement for our increasingly complex system. GDP growth (economic growth) often comes at a considerable cost to the environment and people’s wellbeing.
Many alternatives to GDP have been proposed. Learn about some of these below - including some ways to finance regeneration - and then get involved by advocating and sharing your knowledge!
Here are a few options you can choose from:
Learn about the Genuine Progress Indicator (GPI)
The GPI is a metric that has been suggested to replace or supplement GDP. It has been designed to take a more holistic account of the well-being of a nation by including environmental and social factors which are not measured by GDP.
- Learn about GPI on Investopedia
- The New Economy Journal explores ways to progress the GPI
- Learn about GPI in The Conversation - Beyond GDP series Contacting your MP to engage with them on expansion of renewable energy is one of the most effective ways of making positive change. Before you make contact, make sure you’ve done some research on their position on climate change and energy policy.
Learn about Gross National Happiness (GNH)
The GNH Centre Bhutan (GNHCB) is a non-profit civil society organisation that promotes the concept of GNH values nationally and internationally by facilitating transformational learning to achieve sustainable societal change. The GNHCB is passionate about creating a better world with true happiness and offers sustainable solutions for people and the planet.
- Learn about GNH on the GNH Centre Bhutan website
Learn about Doughnut Economics
Doughnut Economics is a compass for human prosperity in the 21st century with the aim of meeting the needs of all people within the means of the living planet. The Doughnut Economics Action Lab (DEAL) works with changemakers worldwide - in communities, education, cities, businesses and government and more - who are turning the idea of Doughnut Economics into transformative action and aiming to create systemic change.
- Learn about Doughnut Economics
- Join the DEAL community
- For cities and regions - learn how to downscale the Doughnut to reimagine and remake the places you live.
Learn about financing nature
It’s vital that financial investment solutions for environmental initiatives to restore and protect our ecology are shown and shared widely. The Financing Nature report offers the most comprehensive assessment to date on how much the world currently spends to benefit nature, how much more we need to be spending, and how we can close that nature funding gap now.
- Read the report - full report available in English, Executive Summary available in English, Spanish, Portuguese, and Bahasa.
Learn about a financial metric for carbon storage
ASN Bank and Climate Cleanup have created a financial metric for carbon storage in the built environment. The systemic goal is to enable investors to assess the amount of carbon projects stored, so financials can account and invest towards 1500 gigaton of carbon dioxide removed from the atmosphere.
Greening Australia is a national environmental enterprise who aim to restore Australia’s landscapes and protect biodiversity by applying nature-based solutions and carrying out on-ground restoration projects.
- Economy and ecology - read about the necessity of financial investment solutions for environmental initiatives to restore and protect our ecology.
In The Black
In The Black is CPA Australia’s monthly business magazine, offering insight into business, career and economic issues.
- GDP alternatives - learn about eight different ways we can measure economic health.
- Circular economy - read about circular economy and its opportunities and benefits for the environment.
Australian Circular Economy Hub
Australian Circular Economy Hub believe the current economic model is unsustainable and that there is a better way - their aim is to facilitate the transition to a circular economy in Australia.
- Circular economy actions - learn about actions we can take right now towards transition.
- Circular Council webinar - watch a session from Australia’s first Circular Economy Lead in local Government (Lake Macquarie).
Gross National Happiness USA (GNHUSA)
- Explore GNHUSA’s website to learn more and how you can get involved by joining the community, adding your voice or donating.
Know of any other groups or resources? Let us know.
Learning about alternative ways to measure the economy and finance regeneration part of a larger collective response. Learn more and find other actions here.