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The World Bank’s Genuine Savings Indicator: a Useful Measure of Sustainability?

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World Bank documents and speeches now emphasise the need to assess the links between social and environmental changes and macroeconomic performance. Bank President Wolfensohn’s main current reform proposal is to refine and implement his Comprehensive Development Framework (CDF); an attempt to present an integrated, holistic analysis of the relationship between human, structural and environmental change and its traditional goals of macroeconomic stability and economic growth. 1 In this context the little-known work of the Bank's Environmental Economics and Indicators Unit is becoming more important. The Bank has long included numbers on environmental issues such as land use, deforestation and air.