Gross Environment Product(GEP)

Uttarakhand government has announced that it will initiate valuation of its natural resources in the form of ‘Gross Environment Product’ (GEP)

 ● About GEP:

- Established back in 1997 by ecological economists like Robert Costanza at the global level.

- It is an assessment system to measure ecological status.

- GEP accounts for the economic value of the ecosystem in providing products and services

-it is one of the components of green GDP.

-Green GDP is an indicator of economic growth with environmental factors taken into consideration along with the standard GDP of a country.

- It factors biodiversity losses and costs attributed to climate change.

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