Institute for Economic and Social Research, Faculty of Economics and Business, University of Indonesia (LPEM FEB UI) and Sustainable Development Goals Hub UI (SDGs Hub UI) in collaboration with International Institute for Sustainable Development Canada (IISD Canada) to conduct related studies comprehensive wealth in Indonesia. This study aims to prioritize calculations of inclusive and sustainable economic growth by looking at growth indicators other than the Gross Domestic Product (GDP) indicator.

To support the study above, on July 14 2022 activities were carried out Focus Group Discussions (FGD) took place at the Directorate General of State Assets (DJKN), Ministry of Finance, which was attended by Robert Smith (IISD Canada), David Kazcan (World Bank), Arik Haryono (Director of Assessment, DJKN), Rustanto (Head of HR Secretariat, DJKN) , and Dr. Alin Halimatussadiah and the LPEM FEB UI team. This FGD activity is an effort to introduce the concept of inclusive growth, one of which is in terms of preparation Natural Capital Accounting, and initiate discussions and open opportunities for collaboration with the government regarding steps that must be taken in the future to map inclusive and sustainable economic growth.

As a series of this study, LPEM FEB UI also held a workshop entitled Promoting Beyond GDP Indicators for Green and Inclusive Growth in one of the sessions at the 18th Indonesian Regional Science Association (IRSA) Conference in Bogor, 17 July 2023. The event was opened by Dr. Alin Halimatussadiah and continued with a panel discussion with resource persons from Bappenas (Ir. Medrilzam, M.Prof. Econ, Ph.D, Director of Environment), IISD Canada (Robert Smith, Senior Associate), Central Statistics Agency (Puji Kurniawan, Director at the Directorate of Production Balance), and Australia National University (Prof. Budy Resosudarmo).

Some of the things explained in this activity include the following:

• GDP is often used as the main indicator of national success. By referring only to GDP as a measure of success, the government often prioritizes policies that can see immediate economic benefits in the short term compared to policies that can provide economic benefits and prosperity in the long term.
• To overcome this, it is important that the government looks at the country's growth and development through the lens comprehensive wealth. Calculation comprehensive wealth includes all assets of the country: Produced Capital (infrastructure assets, buildings and machinery), Financial capital (financial assets, such as stocks and bonds), Natural Capital (natural resource assets, such as minerals and forests), Human Capital (the quality of a country's society), and Social Capital (values ​​in society, such as cooperation and trust in the community). Calculation comprehensive wealth considered crucial because it can accommodate various assets produced by a country, taking into account economic, environmental and social indicators, to support the implementation of sustainable development.
• IISD Canada has published a Report Comprehensive Wealth for Canada in 2016 and 2018. LPEM FEB UI and SDGs UI together with IISD Canada are in the process of completing a similar report to encourage discussion comprehensive wealth in Indonesia.

Through the discussions and activities above, LPEM FEB UI is committed to continuing to encourage the development of inclusive and sustainable economic growth indicators in Indonesia.