At 2023 India of the T20 (Think20), which is positioned as the 'Idea Bank' of the G20 and comprises experts and think tanks from the G20 countries, a policy brief on comprehensive national wealth growth measurement using the new national wealth index, contributed by Shunsuke Managi, President of the company, was adopted.
This policy brief proposes that the assessment of Lifestyle for Environment ("LiFE"), which represents a concept involving changes in individual and societal behaviour with regard to sustainable consumption and production, can be weighted and aggregated based on the principles of the IWI (New Wealth of Nations Index) principles and suggests that it can be disaggregated on a weighted average basis, taking into account the spatial distribution within a country.
This policy brief presents three steps for introducing and implementing LiFE indicators across G20 countries.
● G20 countries need to cooperate with each other to develop a universally acceptable methodology for the LiFE Index.
● G20 countries need to cooperate with each other to build capacity in relation to the LiFE indicators. Capacity building should cover how to read and interpret indicator values, how to improve values, and actions to be taken in the short, medium and long term.
● Along with establishing a methodology for LiFE indicators, the following should be done.
0 Adopt a sustainable lifestyle
0 Reduce carbon dioxide emissions.
0 Improved living standards through increased productivity and income
0 Education and knowledge enhancement
0 Strengthening cooperation between stakeholders
These recommendations will be incorporated into aiESG's future services.
Managi, S., Bhattacharya, A. & Bhattacharya, T., Policy Briefs T20 for
The Presidency of the G20 in 2023, The G20 Insights Platform, Global
Solutions Initiative Foundation, Inclusive Wealth Index: a
Comprehensive Measure of LiFE Towards 'Net
Zero'.
https://t20ind.org/research/inclusive-wealth-index/
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