CitiesGoGreen - December 2008 - (Page 28)

Leduc Genuine Well-being Index Flower The Genuine Wealth Assessment The Genuine Wealth Assessment is my answer. It suggests a new model for building a society and an economy based on measuring what matters. It fosters genuine stewardship of the human, natural and social capital of a society. The Genuine Wealth road map begins with getting in touch with what we individually and collectively value. To do that we can ask, “What makes us happy?” “What keeps us from pursuing that happiness?” “What do we love about our communities?” “What is the good life?” If you were the leader of your community (and perhaps you are, formally or informally), what changes would you implement to move your community towards a flourishing society? These questions require getting in touch with one’s gifts, with vocation (the reason one is here on Earth), and dreams. The virtues defined by Plato are often included in the answers, one way or another. They are moderation, courage, wisdom and justice. (Imagine every city council or board meeting beginning with a reflection on how the body is fulfilling the spirit of these virtues, in particular moderation or frugality, which is at the heart of sustainability.) The next step is identifying and measuring the conditions that contribute to genuine, enduring happiness and flourishing households, enterprises and communities. This means measuring what matters, including the condition of what I call the ‘five capitals’: human capital (people), social capital (relationships), natural resources (nature’s wealth), infrastructure, and financial capital or conventional wealth. Communities that have looked at themselves using the Genuine Wealth Assessment include Edmonton, Leduc and Nunavut in Canada, Santa Monica in California and Innsbruck in Austria, as well as several jurisdictions in China. Corporations and other organizations have also requested Genuine Wealth Assessments. The result of this examination is a new balance sheet incorporating a range of statistical and experiential indicators. It reveals the condition of the ‘five capitals,’ as either strengths (assets) or weaknesses (liabilities). It also reveals the distribution of wealth as a measure of social equity. This balance sheet can be displayed as a graph, such as the one illustrated, from the City of Leduc (pop. 16,000). It resembles a flower, with each petal corresponding to one dimension of well-being. In this example, which might be different for another community, over 120 quantitative and qualitative well-being indicators were selected by the community to assess the well-being of Leduc and its “five capitals.” Indicators were organized into 22 themes, seen as flower petals. The more complete or full each petal, the better that dimension of well-being. Smaller petals indicate a need for improvement. The diagram also tells us something about the distribution (equity) of these capital assets within the community. As an accessible yet data-based representation, it can engage both citizens and decision-makers in examining the strengths and weaknesses of their communities. The results can be used to direct the investment of community resources. A new accounting system According to the logic of our current national income accounting system, from which GDP is derived, the more money 28 December 2008 http://www.leduc.ca/Leduc/1024/News_and_Events/initiatives/gwa.asp http://citiesgogreen.com

Table of Contents Feed for the Digital Edition of CitiesGoGreen - December 2008

Citites Go Green Contents In Motion We’re Taking Steps 10,000 Rain Gardens in Kansas City Chicago Center for Green Technology Connecticut’s ‘One Thing’ Green Infrastructure for Stormwater Management Philadelphia The Economics of What Matters New Context: New Possibility

CitiesGoGreen - December 2008

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