green GDP

Syllable breakdown

Dictionary meaning

a modified national accounting measure that adjusts gross domestic product to account for environmental degradation and the depletion of natural resources, subtracting the costs of pollution, habitat loss, soil erosion, and resource exhaustion from conventional GDP to produce an index that reflects genuine economic welfare rather than the mere volume of monetary transactions; green GDP initiatives have been pursued by China, the United Nations Statistical Division through the System of Environmental-Economic Accounting, and various research institutions; despite its theoretical appeal, green GDP has faced resistance from governments because it typically reduces apparent economic performance and involves significant methodological disputes about how to price environmental losses