Executive Summary

1 Introduction

1.1 Background

1.2 Objectives of the Project

1.3 Structure of the Research Note

2 EU Policy Context

2.1 Policy Timeline

2.2 Maastricht Criteria

2.3 The Lisbon Strategy – A Response to Socio-economic Challenges

2.4 Sustainable Development Strategy

2.5 GDP and Beyond: Measuring Progress in a Changing World

3 Evaluation Methodologies

3.1 RACER Analysis

3.2 SWOT Analysis

3.3 SDI Criteria for Indicator Selection

3.4 Correspondence between SDI Criteria and IN-STREAM Evaluation Methodologies

3.5 Final Indicator Set

4 Single Evaluations of the Selected Indicators

4.1 Gross Domestic Product

4.2 SEEA Framework

4.3 Adjusted Net Savings (Genuine Savings)

5 Evaluation of the Indicators as a Group

5.1 RACER Analysis of the Basket of Indicators

6 Unresolved Methodological Issues

6.1 Methodological Challenges

6.2 Communicating Uncertainties

7 Final Summary and Conclusions

8 References

Technical Annex: RACER Criteria and Subcriteria