UN Secretary-General calls for abandoning GDP as the main indicator of economic development
Kyiv • UNN
UN Secretary-General António Guterres stated that the global economic model needs transformation. He emphasized the need to move beyond GDP as the main indicator of progress.
The global economic model needs a radical transformation, as an exclusive focus on gross domestic product growth encourages environmental pollution and depletion of natural resources. UN Secretary-General António Guterres stated this in a comment to The Guardian, UNN reports.
Details
According to Guterres, current economic accounting systems are effectively pushing humanity towards an ecological catastrophe, as they do not take into account the true value of nature. He emphasized that the world must move beyond GDP as the main indicator of progress and well-being.
The UN Secretary-General stressed that deforestation or overfishing formally increase GDP, although in reality they cause serious damage to the environment and the future of humanity. In his opinion, GDP shows the cost of everything, but does not reflect true value for society.
In January, an international conference Beyond GDP, organized under the auspices of the UN, took place in Geneva, attended by leading economists from around the world. They are working on creating a new set of indicators of economic success that will take into account human well-being, sustainable development, and social justice.
Experts note that endless economic growth on a planet with limited resources exacerbates the climate crisis, biodiversity loss, and social inequality. At the same time, there is a growing demand for alternative economic models that combine development with environmental protection and improved quality of life.
The UN emphasizes that the goal of the initiative is not to abandon GDP entirely, but to supplement it with other indicators that will allow assessing whether economic development truly improves people's lives and preserves the planet for future generations.