The regular market economy does not incorporate information on greenhouse gas (GHG) emissions, non renewable resources, natural capital and inclusiveness. Helpful tools to provide direct insights into the current gaps between market-based outcomes and more sustainable and inclusive target results include regular monitoring and inclusive procedures.
Monitoring at macro level
Monitoring is needed at both macro and micro levels. At the macro level, the measuring of the short and long-run progress of economies should involve analyses of flow measures as wel as of inclusive wealth stocks. National accounting systems have to be adepted to measure not just flows of good and services but also stocks of natural capital.
Monitoring at micro level
At the micro level, monitoring should support benchmarking between firms that stimulates learning behaviour and innovations. There is a need for more accurate quantification and communication about the sustainability of products. The challenge is to work collaboratively (government - supply chain), developing a science-based that promotes better understanding, stadardisation and informed decision-making. Development in ICT will make monitoring easier and cheaper in the coming years.