A group of researchers conducted an assessment of the SDGs from an inclusive wealth perspective. The study, published in Nature, recommends that rather than focusing on the synergies and trade-offs among the SDGs, policymakers put a stronger emphasis on improving inclusive wealth to support development that is sustainable and inclusive.

The study titled, ‘Assessing the United Nations Sustainable Development Goals from the Inclusive Wealth Perspective,’ seeks to provide empirical evidence that links the progress towards the SDGs with changes in well-being. Researchers use an SDGs-wealth model covering 147 countries in the period from 2000-2019, which they analyzed using machine learning. Based on the accumulation of total wealth in terms of per capita Inclusive Wealth Index, the Inclusive Wealth framework used in the study accommodates the trade-offs and synergies among the SDGs.

The findings point to a strong correlation between wealth and the SDGs, and identify Goals 12 (responsible consumption and production), 13 (climate action), and 7 (affordable and clean energy) as the most significant predictors of wealth. Researchers conclude that given the positive correlation between SDG 7 and per capita Inclusive Wealth Index, promoting affordable and clean energy is beneficial for wealth accumulation. This is in contrast with supporting responsible consumption and production (SDG 12) and climate action (SDG 13), which, the study finds, “might be detrimental to wealth.”

The study underscores that successful implementation of the 2030 Agenda for Sustainable Development depends on how a country’s progress is monitored and evaluated, which can help policymakers identify interventions offering the greatest potential for achieving all of the SDGs. The researchers call on policymakers to move beyond GDP and adopt the Inclusive Wealth Index as a more comprehensive approach to assessing sustainable development. They argue that the Inclusive Wealth Index “will complement the shortcomings of the SDGs” and safeguard inclusive development along the economic, social, and environmental dimensions in the short and long term.

The article was published online on 28 January 2023. [Publication: Assessing the United Nations Sustainable Development Goals from the Inclusive Wealth Perspective] [SDG Knowledge Hub Story about UN Biodiversity Conference 2022 Side Event on Inclusive Wealth as a Measure of Sustainability]