Policy Lab on Redefining Prosperity

The challenge: How to leverage indicators to boost an effective beyond growth policy shift

The discourse on strengthening wellbeing and sustainability metrics in policymaking is gaining momentum. Given the goals set it out in the European Green Deal and the European Pillar of Social Rights, decision-makers require holistic policy tools to mitigate trade-offs and identify synergies. Moreover, the COVID-19 pandemic and Russia's war on Ukraine have highlighted the significance of resilience, indicating the importance of not relying on macroeconomic indicators alone. Successes in this agenda are already visible when it comes to monitoring wellbeing and sustainability, as the Social Scoreboard and Resilience Dashboards exemplify.

Despite current advancements in data quality and statistical frameworks, the institutionalisation of wellbeing and sustainability metrics in governance in a way that shapes political decision-making remains challenging. Most importantly, the long-standing prominence of economic growth as the main socio-political goal has created strong path dependencies, with GDP being enshrined into EU economic governance, policies, and legislation.

The crucial question is thus how wellbeing and sustainability metrics can achieve a similar level of institutionalisation as GDP to effectively steer economic policy decisions towards the goal of socially just EU economies able to operate within planetary boundaries.

REGISTRATION
(CLOSED)

FORMAT:
Innovative co-creative space for political innovation

AIM:
To create a space for participants to jointly reflect on the next steps to better integrate wellbeing and sustainability metrics into governance processes, legislation, and policies in a way that they actively shape political decision-making.

PARTICIPANTS:
Members of the Commission DGs, the Council, and Parliament, as well as selected representatives from statistical institutes, civil society, social partners, and academia.

BENEFITS:
▪ Co-design ideas for the agenda of the next commission
▪ Learn what you can do to advance the wellbeing and sustainability agenda in your role
▪ Make use of a great opportunity to connect with other experts