The green gross domestic product (green GDP) is an index of economic growth with the environmental consequences of that growth factored into a country's conventional GDP. Green GDP monetizes the loss of biodiversity, and accounts for costs caused by climate change. Some environmental experts prefer physical indicators (such as "waste per capita" or "carbon dioxide emissions per year"), which may be aggregated to indices such as the "Sustainable Development Index.”
Relation of green GDP and GDP could be explicated as following: Green GDP = GDP － depreciation of fixed assets － resources and environmental costs = NDP-resources and environmental costs. Of which, NDP refers to net domestic product. The formula shows that green GDP is corresponding to NDP not to GDP. In this project, we adopted the total value concept of green GDP corresponding to GDP instead of net value just because GDP is used more commonly than NDP when considering practical application.
Raman Jeet Singh Suresh Kumar Hamit Can
Thanks for your views on the GEP and it's good to learn from the experts. The state of Uttarakhand in India is in the new to adopt a GEP index so I stumbled upon this discussion.
I assume there shall be a catch 22 situation here. Adding value or monetization may lead to further environmental degradation on the pretext of 'pay and use'. Ecological connections (corridors), hydrologic networks and other environmental features have been often compromised on the basis of 'development, national interests, priority projects' etc. How can the concept of GEP ensure that everything doesn't carry a price tag? your views and opinions shall be helpful.
Ashim Manna
Thanks for your answer. I asked this question 8 years before, fortunately, now policy makers are also realizing the concept of GEP. May be, first we have to calculate the ecosystem service functions of any natural asset of the state or country, then only we can work out GEP.
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