Constructing a quantification tool of the progress towards the green economy: Aggregation perspective
DOI:
https://doi.org/10.24136/eq.3336Keywords:
green transition, green economy, composite index, sustainable development, aggregation methodAbstract
Research background: The transition towards a green economy, seen as a visible alternative to climate change and the need to ensure this opportunity to future generations, is a major challenge for all of the nations of the world, regardless of their status as developed, developing or emergent. In order to highlight the current state or progress towards a green economy, the reports and research of certain institutions, as well as of the academic medium, have focused on identifying the most relevant influencing factors and choosing the quantification methods capable to generate complete and useful interpretations.
Purpose of the article: The purpose of the paper is to construct an instrument that enables to measure the progress of countries in terms of the transition to green economy, where Romania is considered as a case study. In this respect, a composite index (green economy index — GEI) is being proposed, achieved by aggregating some indicators for measuring sustainable development. The method underlying the calculation of the value of the GEI aggregate index allows not only to determine the current state of greening of the economy, but also provides information on the contribution made by each of the three dimensions of sustainable development (economic, social and environmental), as well as by each indicator individually, to this progress.
Methods: Constructing the aggregated index was based on an additive aggregation of three partial indicators: the economic indicator, comprised of 8 individual indicators, the social indicator, comprised of 8 individual indicators, and the social indicator, comprised of 10 individual indicators. The collected data covers the interval of 2010–2021.
Findings & value added: Calculating the Green Economy Index — GEI value for each of the 12 years under analysis has permitted not only the identification of progress regarding the green transition, and the underlying of each indicator’s contribution to this evolution, but has also confirmed the results obtained by similar studies carried out by the GGGI or European Union. We consider, as a result of the selection of certain indicators considered relevant in the economic, social and environmental field, that the newly-formed aggregate index represents an effective tool that can be used to measure progress in terms of achieving the 2030 Agenda for Sustainable Development goals, by easily adapting to the particularities of other states or regions.
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