"CHARTING A GREENER FUTURE: RETHINKING ECONOMIC PROGRESS THROUGH GREEN GDP

Abstract

The convergence of economic development and environmental protection stands as a global imperative, spanning fields as diverse as human welfare, energy consumption, and meteorology. Yet, the conventional Gross Domestic Product (GDP) metric, a primary gauge of national economic health, exhibits notable limitations. Traditional GDP often conveys a skewed economic picture, focusing on material and static conditions while sidelining critical development issues. Moreover, it fails to account for sustainability, ignoring the impact of energy consumption on factors like climate change, thereby jeopardizing long-term resource sustainability and human well-being.

To address these shortcomings, the concept of Green Gross Domestic Product (Green GDP) has emerged. Unlike its predecessor, Green GDP offers a more comprehensive and objective evaluation of economic growth by considering factors such as resource consumption and environmental impact. This holistic perspective underscores the interplay of economics, resources, and the environment, offering a more nuanced view of societal effects.

Despite its promise, the implementation and promotion of Green GDP face multifaceted challenges. Therefore, the development, validation, and universal applicability of a robust accounting model for Green GDP are of paramount importance within the contemporary global context.