Study on the Impact of Green GDP Accounting System on Climate - Based on Integrated Evaluation and Markov Modelling

Abstract

GDP does not consider the impact of economic development on environmental hazards and resource consumption. Therefore, our team developed a reliable model and utilized the GGDP to assess the fiscal health of countries with the hope that governments will adopt policies to mitigate the impact of economic development on the global climate. To measure the financial health of each country's system, we selected raw data on five critical factors for 50 countries from 2010 to 2020. We then validated the data distribution patterns and selected the 80% quartile as the healthy range for each indicator. We used analytic hierarchical process (AHP) to determine the weights of each hand. Finally, we introduced the concept of the Economic Health Index (EHI) concept, which represents an economy's actual health. We also use Markov chains to predict the future global climate impact of flexible government policy measures to promote GGDP growth after GGDP replaces GDP. To measure the effect on global climate, we use the achievement of the GHG emissions and energy consumption targets agreed upon by countries in the Paris Agreement.