Tools to better measure the green economy

Hundreds of green economy indicators are not used or developed enough by policymakers, practitioners and researchers. To improve measurement, a better overall understanding of indicators and how they are specifically used and defined is required.

With this in mind, the EU-funded NETGREEN (Network for green growth indicators) project aims to provide support on how to properly utilise green economy indicators and identify those most suitable for the specific needs of users. To achieve its aims, the project will nurture sustainable dialogue on green growth and green economy among various stakeholders via an online database and networking events.

During the first reporting period, project partners carried out a comprehensive literature review, interviewed international experts and held a multi-stakeholder workshop. This work led to a report on how the green economy will be realised, how perspectives differ and what accounts for these differences.

The team has produced an inventory of more than 4 000 indicators for green economy and sustainable development. It gathered and compared the various approaches across economic, social and environmental domains and methodologies such as composite indices, indicator sets and ecosystem assessments.

This extensive indicator catalogue provides a basis for an open access, searchable web database – the project's main outcome. Development of the online repository is underway following user needs' identification. It serves as an online tool to identify and understand the most optimal indicators for measuring the green economy. Users can generate a list of potentially suitable indicators based on relevancy and their specific policy needs.

NETGREEN will enhance the way key actors access and employ indicators for sustainable development and green economy. As a result, they will be in a position to gain further insight into the linkages between economic development and the improvement of society and the environment.