Abstract

Current methods of calculating economic growth fail to account for environmental depletion, degradation and loss of biodiversity. In turn, industrial development and economic growth are reflective of the creation of material wealth but fail to cultivate environmental and social gains. 

The growing discourse on sustainability has sparked attempts to recast traditional means of calculating GDP which account for the environmental factor. This new approach, commonly referred to as the ‘Green GDP’, seeks to broaden the scope of this measurement through the addition of social and environmental dimensions to what was once a solely monetary value. Growing evidence suggests that limits to future growth will be defined more by vulnerabilities flowing from social inequities, environmental degradation and climate change than any other factor. 

This discussion advocates a paradigm shift ushering in strong market drivers to support corporate action for evolving a Green GDP Economic Model. Deliverables such as policies, regulations, and corporate affairs will all be addressed as an integral part of developing a Green GDP and inclusive growth model.

Biography

Sankaran Ramalingam is the President of ENFUSE, the Energy & Fuel User’s Association of India. He studied Electrical and Mechanical Engineering in Guindy Madras and also holds a post graduate diploma in Management. Sankaran is the former Chairman & Managing Director of Chennai Petroleum Corporation and has previously served as Chairman for the National Aromatics and Petrochemicals Corporation.

With over 40 years of experience in the Industry, Sankaran now focuses on the promotion of solar and other renewable energies, in India. He now heads the planning commission on Power and Renewable Energy for the 11th Plan for the State Power and Renewable Energy as appointed by the Tamil Nadu Government in India.