Our Common Agenda - Policy Brief 4: Framework to Progress Beyond Gross Domestic Product

In a rapidly evolving world fraught with global challenges that range from climate change and biodiversity loss to intensifying conflicts and social inequalities, it is essential to seek out robust multilateral solutions to secure a better future for us all. The United Nations, poised to facilitate such cooperation, is preparing for the upcoming Summit of the Future in 2024. The Summit presents an opportune platform to endorse and accelerate shared, action-oriented strategies for a sustainable tomorrow. As part of these efforts, the present policy brief—titled "Our Common Agenda Policy Brief 4: Valuing What Counts: Framework to Progress Beyond Gross Domestic Product"— has been compiled, building upon recommendations made in the Secretary-General's report, "Our Common Agenda" (A/75/982). This brief comes after extensive intergovernmental consultations, reinforcing the principles outlined in the UN Charter, Universal Declaration of Human Rights, and other international instruments.

This policy brief confronts a critical paradox at the heart of contemporary global policymaking. Our traditional economic models and metrics, rooted in the measure of gross domestic product (GDP), neglect many dimensions that underpin life and contribute to human well-being, while unduly emphasizing activities that degrade our planet. This paper does not aim to replace GDP but proposes a course towards the development of supplementary metrics that more fully recognize the values pertinent to people, the planet, and the future. At a time when our world is besieged by interconnected crises and the Sustainable Development Goals are lagging behind schedule, the notion of GDP as the standard for value, wealth creation, and development progress calls for urgent revision. As currently structured, GDP fails to account for human well-being, environmental sustainability, the skewed distribution of economic activity, and unpaid household services, such as care work.

Decades-long discussions have emphasized the need to go beyond GDP, establishing a shared language and community of practice. Numerous initiatives, including the 2030 Agenda for Sustainable Development, the UN Development Programme's human development index, and gender-specific indicators, have emerged, supplementing GDP with measures of well-being, agency, and inequality. The Sustainable Development Goals, in particular, have been designed to address GDP's shortcomings. This policy brief proposes three key recommendations for Member States: a renewed commitment to develop a framework that accurately values what counts for people, the planet, and the future; the establishment of a robust technical and scientific process that leads to a United Nations value dashboard of key indicators that extend beyond GDP; and a major capacity-building initiative to empower Member States to effectively utilize this new framework. You can download the English version of "Our Common Agenda - Policy Brief 4: Framework to Progress Beyond Gross Domestic Product" through the button below this article.