‍‍Background

Today’s economic system is not systematically addressing the triple planetary crisis and growing inequalities to ensure sustainable futures for all. Instead, it is prioritizing short-term profit and extraction of resources over the long-term wellbeing of people and planet. Young people globally are increasingly calling for a redefinition of progress that is inclusive, comprehensive, and inter-generationally equitable. This requires re-designing economic systems around human and planetary priorities and values, including by moving away from GDP, as the dominant metric of a country’s prosperity, towards a more comprehensive and equitable measurement of wealth.

Despite being disproportionally affected by the impacts of extractive economic systems, young people and their voices continue to be under-represented in the global discourse of shaping the future of our economic systems. Recognizing this gap, on October 2023, the Beyond Lab at UN Geneva convened an inter-generational dialogue on Rethinking Economic Systems as part of its “What’s Next” series. Building on this dialogue, in February 2024, the Beyond Lab, in partnership with Rethinking Economics International and UN Trade and Development (UNCTAD) organized an international Essay Competition, asking young people what values should be counted in a future framework to complement GDP. Over 600 essays were received, and the top five winners were invited to a high-level dialogue last April in Geneva. Efforts are currently underway to integrate insights gained through the Essay Competition into a broader #YouthMovingBeyondGDP initiative.

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About the event

This official side event of the Summit of the Future Action Days builds on previous insights obtained through the Beyond Lab’s “What’s Next” series and the youth Essay Competition on Going Beyond GDP. By bringing the discussion to the Summit of the Future, the event offers a platform for an interactive exchange between youth and policymakers on rethinking economic systems including by going Beyond GDP as the sole indicator for measuring progress.  

Developing a framework to move Beyond GDP is a highly complex and intricate task. Creating more opportunities for mutual learning and intergenerational exchange in the way we rethink our economic systems is crucial towards developing a comprehensive framework reoriented around what humanity truly values, and that is aligned with our planetary boundaries.

The event is part of the #YouthMovingBeyondGDP initiative. The initiative's key objective is to promote meaningful youth engagement and help break the inter-generational “glass ceiling” when re-thinking our economic system for long-term sustainable development.  

The event will contribute to:  

Systematically leveraging and integrating perspectives of young people, including from the Essay Competition, to inform and inspire future intergovernmental processes at the UN and other fora on Beyond GDP.

Building a community of youth thought leaders, practitioners and changemakers to serve as a sounding board on Beyond GDP – such as to a future independent high-level expert group – in the follow up of the Summit of Future and the lead up Financing for Development Conference in 2025.  

The event will be an opportunity for member states, policy makers and interested stakeholders to understand young people’s motivation and discuss their perspectives in changing the way we measure progress for sustainable development.

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Programme

This event will be happening on the 20th September 2024 at

9:00 am - 10:15 am EST | 3:00 pm - 4:15 pm CEST

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‍Register Here

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