Uttarakhand has become the first state of India to take into account the Gross Environment Product in calculation of its Gross Domestic Product.
What is Gross Environment Product (GEP)?
According to IUCN, it is defined as the total value of final ecosystem goods and services supplied to human well-being in a region annually. It is measured in terms of biophysical value and monetary value.
Ecosystems that can be measured include both natural ecosystems such as forest, grassland and artificial ecosystems that are based on natural processes like farmland, pastures, urban green land, etc.
Significance of Gross Environment Product
Incorporation of GEP indicates the overall health of the environment by measurement of forest cover, soil erosion, air quality parameters, dissolved oxygen etc.
It helps in measuring the effects of anthropological pressures on the environment and framing policies suitable for sustainable development.
It helps in overcoming the deficiencies in the measurement of GDP which doesnot take into account the values of Ecosystem Goods and Services.
