August 12th, 2006
The Green Gross Domestic Product (GGDP) is fast becoming an important index of economic growth. The difference with your regular GDP? The GGDP indexes economic growth in consequence with environmental factors. China for example, has started using the GGDP since 2004 for measuring economic growth.
This development does not come without flaws, according to some experts. Statisticians caution that key methodological problems in calculating the GGDP, such as the monetary value of biodiversity loss and the impacts of climate change and carbon dioxide emissions. Many barometers are currently in use, particularly indices such as Waste Per Capita or Carbon Dioxide Emissions Per Annum.