Efforts to improve the Genuine Savings, a widely accepted index to assess the weak sustainability of an economy's development, have led to the creation of a broad body of literature that aims to produce more robust macroeconomic indicators for policy decision making. However, the various approaches to natural capital welfare accounting results in conflicting indicators of change. It is also the case that the inclusion of natural and social capital components is still scant. This paper addresses this gap by extending the traditional Genuine Savings methodology by including some natural capital components (e.g. flood protection, water purification) and the poverty dimension through a deontological approach. Although not offering a silver bullet solution, our approach proposes a pluralist and pragmatic improvement from ‘weak’ towards ‘stronger’ sustainability indicators. Results highlight the availability of data and information produced by different initiatives including the United Nations System of Environmental-Economic Accounting guidelines. The empirical application provides Genuine Savings estimates for Italy from 2006 to 2012 and from 2012 to 2015, shedding the light on the importance of natural capital and social considerations at national and regional level.

中文翻译：

---

在意大利的区域和国家层面扩展自然资本和贫困的真实储蓄估计


真实储蓄是一个被广泛接受的评估经济发展可持续性较弱的指数，人们努力改进真实储蓄，这导致了大量文献的产生，旨在为政策决策提供更稳健的宏观经济指标。然而，自然资本福利核算的各种方法导致了相互矛盾的变化指标。同样的情况是，自然资本和社会资本成分的包容性仍然很少。本文通过道义论方法扩展传统的真实储蓄方法（例如防洪、水净化）和贫困维度来填补这一差距。虽然没有提供灵丹妙药解决方案，但我们的方法提出了从“弱”到“强”可持续性指标的多元化和务实的改进。结果突出了包括联合国环境经济核算系统准则在内的不同倡议产生的数据和信息的可用性。实证应用提供了 2006 年至 2012 年和 2012 年至 2015 年意大利的真实储蓄估计，阐明了自然资本和社会考虑在国家和地区层面的重要性。