Inclusive Wealth Report 2018

Question: Consider the following statements regarding Inclusive Wealth Report 2018:

  1. It evaluates the capacities and performances of the nations around the world to measure sustainability of economy and well-being of their people
  2. It is a biennial report of the UN Environment
    Select the correct statements

    (a) 1 only
    (b) 2 only
    (c) Both 1 and 2
    (d) Neither 1 nor 2
    Answer: (c)
    Related facts:
  • The Inclusive Wealth Report (IWR) is a biennial effort led by the UN Environment to evaluate the capacities and performances of the nations around the world to measure sustainability of economy and well-being of their people.
  • The (IWR) index as a part of Inclusive Wealth Report measures the wealth of nations through a comprehensive analysis of a country’s productive base and the country’s inclusive wealth which is the social value (not dollar price) of all its capital assets, including natural capital, human capital and produced capital.
  • The report finds Republic of Korea, Singapore and Malta as the nations which have had the most economic growth.
  • The Inclusive wealth (IW) in 135 countries was higher in 2014 compared to the level in 1990 and the global growth rate of IW was 44% over the indicated period, which implies an average growth rate of 1.8% per year. However, during the same period the global GDP growth per year was 3.4%, which is close to two-fold of the annual growth rate of growth in IW.
  • While 44 of 140 countries (including India) are seeing their GDP rise, their inclusive wealth index is registering a decline.
  • In India when the average rate of Gross State Domestic Product (GSDP) during 2005-15 for almost all the states was around 7-8%, 11 states registered a decline in their natural capital.
  • UN Environment:
  • The United Nations Environment Programme (UN Environment) is the leading global environmental authority that sets the global environmental agenda, promotes the coherent implementation of the environmental dimension of sustainable development within the United Nations system, and serves as an authoritative advocate for the global environment.

By Ramayan Upadhyay

Links:
https://www.unenvironment.org/resources/report/inclusive-wealth-report-2018
https://www.downtoearth.org.in/news/environment/we-live-in-a-richer-but-environmentally-poorer-world-un-62295
https://www.unenvironment.org/