cultivar_22_Final_EN

Time to focus on what matters: an agenda for measurement and policy 59 and environmental considerations can no longer be dealt with ‘after the event’ but should be integral to economic policy. New economic theories, evidence and techniques need to be developed. Since 2012 the OECD’s New Approaches to Economic Challenges (NAEC) initiative has attempted to bring together much of the new thinking in this field and these reflections need to continue. Some examples of mechanisms for applying a well-being lens to policy-making Several governments have developed formal and concrete mechanisms to embed well-being and sustainability metrics beyond GDP in their policy processes in a structured and integrated way. When it comes to formulating and testing policy options, it is important to think about interdependencies among outcomes and anticipate both positive and negative externalities. These mechanisms can target a spe- cific stage of the policy cycle depicted below. They provide a good entry for a Beyond GDP analysis as they allow to ascertain whether adequate weight and attention is given to various aspect of well-being beyond economic efficiency. Taking the specific case of agricultural policies for instance, such an approach allows to give appro- priate weights to environmental and social impacts, not just economic impacts as would be the case with traditional cost-benefit analysis that would effectively give a negligible weight to environmental impacts several years from now. A well-being lens can be applied to understand specific policy challenges, such as those related to agriculture, from a multidimensional perspec- tive, an approach that has been used in a range of OECD analysis. Examples include the OECD’s work on digitalisation, which uses the OECD well-be- ing framework as a way to understand the various threats and opportunities created by digitalisation; and that on climate mitigation, where the same well-being approach has been used to broaden the assessment of how climate mitigation actions could impact on peo- ple’s lives, beyond their effects on GDP. A well-being approach has also been used in OECD analysis of migration and housing policy in certain countries, and of how government procurement can be used to support well-being and growth objectives. When it comes to formulating and testing policy options, it is important to think about interdependencies among outcomes and anticipate both positive and negative externalities. Well-being metrics support an integrated policy-making process