IISD Measuring the Wealth of Nations: A Review

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Intended Audience

Practitioners and policy workers working to evaluate wealth beyond GDP

L. Bizikova, R. Smith and Z. Zoundi, International Institute for Sustainable Development (IISD)

2021

“There is mounting concern from many perspectives that GDP is not a useful or accurate measure of national well-being. GDP, which measures the income generated by the nation’s economy during a given period, is one of the most frequently cited and influential indicators of our time. Policies designed to boost GDP tend to favour short-term gains over long-term sustainability. Even though growth in GDP is often (and incorrectly) used as a proxy for greater well-being, it is increasingly understood that well-being in the long run is determined not by a nation’s income but by its wealth. If the economy and society rest on a base of declining wealth, development is unsustainable, and well-being will eventually decline. Measuring wealth in its fullest sense is the focus of this review paper.” (p.1)

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SDGs LINKAGES

The resource can support SDG targets related to the measurement and monitoring of sustainable development activity, notably in relation to conservation of natural capital. These include 11.4 (protection and safeguarding of cultural and natural heritage), 12.6 (adopt sustainable practices and sustainability reporting), 14.2 (conservation of marine and coastal habitats), 15.1 (sustainable use of nature), 15.5 (reversing habitat destruction and extinctions) and 15.9 (incorporating biodiversity values into planning processes), and 17.19 (adopt metrics for sustainable development, that go beyond GDP).

The resource also supports SDGs relating to environmental education and awareness, including 4.7 (Education for Sustainable Development), 12.8 (information and awareness for sustainable development and lifestyles in harmony with nature) and 13.3 (education and awareness for climate action).

Click on the SDG Target to discover Our Collections Matter indicators

SDG 4.7: Education for Sustainable Development and Global Citizenship
Our Collections Matter indicators:
Numbers of people in each type of programme drawing on collections from different demographic groups.
Increases in numbers of people in each type of programme from different demographic groups.
Proportion of people involved in such programmes in relation to overall audience size.
Evidence that learners have acquired knowledge and skills to promote sustainable development.
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SDG 11.4: Protect the Worlds Cultural and Natural Heritage
Our Collections Matter indicators:
Total expenditure (public and private) per capita spent on the preservation, protection and conservation of all cultural and natural heritage, by type of heritage.
Plans, policies and procedures in place for the safe use of collections for a variety of purposes, protecting and safeguarding both collections and those who use them.
Plans, policies and procedures in place for the identification, safeguarding and protection of cultural and natural heritage at risk.
Collecting programmes in place to protect, safeguard and make use of cultural and natural heritage, addressing the needs of communities and stakeholders, and ensuring that collections can be an effective resource for sustainable development.
Number and diversity of educational, awareness-raising, research programmes, and partnerships that aim to strengthen protection of cultural and natural heritage.
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SDG 12.6: Encourage Companies to Adopt Sustainable Practices and Sustainability Reporting
Our Collections Matter indicators:
Clear visions, strategies and plans in place for all aspects of sustainability – environmental, social and economic (people, planet, prosperity)- across all areas of activity.
Visions, strategies and plans relating to sustainability to be publicly available and incorporated into planning documents.
Commitments to be in line with local, regional, national and/or international targets and ambitions.
Incorporation of sustainability into reporting for funders and other stakeholders, including the public. Reporting to include commitments and progress towards targets.
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SDG 12.8: Promote Universal Understanding of Sustainable Lifestyles
Our Collections Matter indicators:
Extent to which (i) global citizenship education and (ii) education for sustainable development (including climate change education) are mainstreamed in (a) national education policies; (b) curricula; (c) teacher education; and (d) student assessment.
Extent to which global citizenship education and education for sustainable development (including climate change education) are mainstreamed in formal, informal and non-formal education programmes and activities drawing on and related to collections.
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SDG 13.3: Build Knowledge and Capacity to Meet Climate Change
Our Collections Matter indicators:
Plans in place to enhance positive contributions to addressing climate change through use of collections. Plans in place to ensure collections, collections institutions and broader society can adapt effectively to climate change.
Plans in place for effective education and awareness raising on climate change mitigation, adaptation, impact reduction and early warning.
Plans in place to reduce negative contributions of collections-related functions, e.g. measuring greenhouse emissions with plans and targets in place to reduce them.
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SDG 14.2: Protect and Restore Ecosystems
Our Collections Matter indicators:
Proportion of marine and coastal areas in a good ecological condition.
Numbers of educational and awareness-raising programmes, research activities, and partnerships drawing on collections aiming to support protection of marine and coastal areas.
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SDG 15.1: Conserve and Restore Terrestrial and Freshwater Ecosystems
Our Collections Matter indicators:
Proportion of terrestrial and inland freshwater systems in a good ecological condition.
Information on, educational programmes, collections development, research and partnerships relating to terrestrial and freshwater ecosystems drawing on collections in place.
Policies relating to collections and their use aligned with international agreements for conservation and sustainable use of biodiversity.
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SDG 15.5: Protect Biodiversity and Natural Habitats
Our Collections Matter indicators:
Number and proportion of habitats, notably endangered habitats, and species with favourable conservation status, with special reference to locally, nationally and globally endangered species.
Information on, programmes relating to, collections development, and partnerships relating to habitats and species drawing on collections in place, to support their protection and continued existence.
Measures taken to enhance biodiversity value of green space associated with collections institutions.
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SDG 15.9: Integrate Ecosystem and Biodiversity in Governmental Planning
Our Collections Matter indicators:
Proportion and number of relevant plans, processes and strategies that incorporate ecosystem and biodiversity values, and their relationships with effective collections.
Plans in place to ensure that development of collections facilities contributes to effective conservation and restoration of terrestrial ecosystems.
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SDG 17.19: Further Develop Measurements of Progress
Our Collections Matter indicators:
Identification and implementation of measures for sustainable development incorporating social and environmental considerations.
Identification and implementation of both quantitative and qualitative measures of sustainable development.
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