DEVELOPMENT OF FEEM SUSTAINABILITY INDEX: THE FIRST VERSION
Fondazione Eni Enrico Mattei - Venice
Dr. Agne Dobranskyte
(Ecological and Environmental Economics Programme, ICTP, Trieste)
The current study involved the development of the FEEM Sustainability Index that could give rise to a methodology of sustainability impact assessment. This was achieved by linking internationally recognized indicators of sustainable development with variables of a computable general equilibrium model. Starting with approximately 1700 sustainability indicators from major international organizations, 108 "common" indicators are extracted. Translation of these selected indicators and their proxies within the GTAP global equilibrium model were then performed. The methodology of FEEM Sustainability Index follows the aggregation guidelines of currently available sustainable development indices. The 63 variables grouped into 22 indicators and integrated into the three components of sustainable development, namely economic, social and environmental are the composite parts of the first version of FEEM Sustainability Index. This methodology allows the ranking of 87 World regions that are present in the GTAP 6 version, based on 2001 data, as well as to compare the evolution of sustainability index over the future years.
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