MEASURING SUSTAINABLE DEVELOPMENT: ACHIEVEMENTS AND

Policy context 1. The concept of sustainable development is concerned both with the quality and the quantity of economic growth and encompasses three dimensions of welfare — economic, environmental and social. It refers first to “needs ” in a broad sense, not only economic needs but also needs for a clean environment, for a secure and cohesive society and for ample employment opportunities. Second, explicit in the concept is a focus on “inter-generational” equity, implying that the next generation should be secured opportunities similar to those available to the current one. Third, it puts an emphasis on equity that applies both across and within countries. 2. Progressing towards sustainable development implies that the objectives of increasing economic efficiency and material wealth must take into account social and environmental objectives and must be placed in an inter-temporal framework. It also implies that the capital or asset base of our economies and societies is preserved; this is a key determinant of the potential to satisfy the needs of the present and the next generation. It includes natural assets (natural resources and environmental assets); produced assets and financial assets; and human and social assets (health, education, social institutions, networks and norms). 3. Making the concept of sustainable development operational for public policies raise