Youth Moving Beyond GDP: Intergenerational Finance to Measure What We Value

Context

The 4th International Conference on Financing for Development (FfD4) presents a pivotal opportunity to advance financing for sustainable development, aligned with the 2030 Agenda and its Sustainable Development Goals (SDGs), as well as the implementation of the Pact for the Future. Central to the 2030 Agenda is the principle of intergenerational equity, recognizing that implementation must be "for the full benefit of all, for today’s generation and for future generations." However, political, social, and economic decisions often prioritize short-term gains at the expense of long-term sustainability and the full realization of human rights for all, now and in the future.

Young people are not just the leaders of tomorrow—they are active change-makers today. Their perspectives on sustainable development and its financing are, and have always been, essential to promoting environmentally sustainable practices, social innovation, and creative economies. We must redefine financing for development, prioritizing ethical practices and values, community well-being, and intergenerational equity to ensure that today’s financial decisions benefit both current and future generations and contribute to the realization of a human rights economy, one that prioritizes fulfilling people's rights and ensuring their well-being while safeguarding the planet.

A key component for redefining financing for development is the continued reliance on Gross Domestic Product (GDP) as the primary measure of progress, development, and well-being. GDP heavily influences resource allocation and development priorities, as it is the main indicator for determining eligibility for financing for development and debt relief. However, GDP is limited by its short-term economic focus and failure to account for other critical dimensions of sustainable development, namely social and environmental, towards a more comprehensive approach to wellbeing. By emphasizing extractive economic models and short-term growth, the current GDP-centric approach therefore misguides financing for development and debt relief, undermining sustainability and contributing to practices that fail to ensure long-term well-being for people and planet.  

To accelerate progress on the 2030 Agenda and the SDGs, we must transition to a financing for development system that measures what we truly value—including broader indicators of well-being and sustainability grounded in human rights. This shift is particularly urgent in areas such as the recognition of the value of a healthy planet or the care economy.

At the Summit of the Future, young people presented concrete recommendations on financing for development, offering a clear roadmap to FfD4. These include proposals for the establishment of a sovereign debt workout mechanism and the adoption of metrics that go beyond GDP. FfD4 now represents a unique opportunity to reshape the international financial architecture in a way that is intergenerationally equitable and that strengthens international cooperation. For this transformation to be truly effective, the perspectives of young people and the needs of future generations must be central to the development of innovative financial frameworks.

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Overview of the Event

The “Youth Moving Beyond GDP: Intergenerational Equity to Finance What We Value” side-event will contribute to the inclusive and transformative engagement of young people and promote a future generations perspective at FfD4. The event will focus on integrating innovative economic models into development financing strategies, which create real value for people and planet, and advancing intergenerational equity as a key principle in reforming the international financial architecture in alignment with the 2030 Agenda and the SDGs.

The event will showcase initiatives that are youth-led and inter-generationally impactful, and which have successfully influenced financing and development agendas. It will also explore how youth voices and the needs of future generations can shape financial decisions that foster sustainability and inclusion over the long term.  

In alignment with the FfD4 Outcome First Draft and Action 53 of the Pact for the Future, the side-event aims to advance intergenerational equity for long-term sustainability by:

1. Promoting youth-led and future generations-informed policy recommendations on progress beyond GDP;
2. Creating opportunities for youth engagement and elevating the needs and interests of future generations within FfD4 discussions;
3. Bridging grassroots advocacy and high-level policymaking to integrate youth perspectives and intergenerational priorities into new development frameworks aligned with human rights.

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Objectives of the Event

1. Launch the Youth Network for Beyond GDP – A dedicated platform for ongoing collaboration and engagement, ensuring the voices of young people and the needs of future generations are meaningfully reflected in economic policymaking. The Network will also serve as a "sounding board" for Member States and the Secretary-General’s independent high-level expert group developing recommendations for sustainable development indicators that complement and go beyond GDP.
2. First Youth-Expert Interactive Session – A structured dialogue between the Youth Network, high-level experts, and member States on metrics beyond GDP, fostering mutual learning and co-creation of ideas.
3. Provide Real-Time Inputs into Policymaking – Direct youth contributions and future generations’ considerations to the formulation of policy recommendations on sustainable economic and financial progress, ensuring timely and relevant insights that are intergenerationally equitable and grounded in human rights.

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Organizers

The side-event will be hosted by the Beyond Lab, Rethinking Economics International, and UN Trade and Development (UNCTAD) as core partners of the “Youth Moving Beyond GDP” initiative;  

The International Institute for Sustainable Development (IISD), in partnership with the Government of Canada’s International Development Research Centre (IDRC);  

The UN Youth Office;

The Office of the UN High Commissioner for Human Rights (OHCHR);

The Government of Germany, whose Federal Ministry for Economic Cooperation and Development (BMZ) provides generous support to the initiative (all confirmed); and

The Government of Zambia, drawing on their role as Co-Facilitators of the FfD4 Outcome Document (TBC).

The side-event will prominently feature young people and future generations advocates, as well as follow a pluri-disciplinary and multi-stakeholder approach from different regions.

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Format

The 90-minute event will be an interactive and participatory session structured around four key segments:

• “Why Are We Here?” – Setting the Scene: High-level officials will highlight the importance of intergenerational equity in advancing beyond-GDP approaches as a crucial element of financing reforms for sustainable development.
• “What is the Problem?” – Panel Discussion: Experts from diverse sectors—including Member States, academia, and civil society organizations—will examine the limitations of current frameworks for measuring progress and the urgent need for alternative economic indicators that better support development financing.
• “What Are the Solutions?” – Youth-Expert Roundtable: Members of the Youth Network will engage directly with the high-level expert group, acting as a “sounding board” and offering real-time input on the development of new measures beyond GDP.
• “What Do We Do Now?” – Closing and Next Steps: The session will conclude with a collaborative discussion on actionable next steps to ensure continued youth and intergenerational engagement beyond FfD4, promoting long-term participation in shaping sustainable and inclusive development financing strategies.

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Expected Outcomes

1. Launch of the Youth Network: A structured platform for sustained youth engagement and the integration of intergenerational perspectives in economic policymaking.
2. Direct youth and future generations contribution to policy recommendations: Meaningful inclusion of youth and future generations in shaping and supporting the development of sustainable, rights-based measures beyond GDP—helping to break the intergenerational “glass ceiling” in current economic systems
3. Commitment to continued, equal engagement: A clear roadmap for continued, inclusive collaboration between youth and policymakers, ensuring lasting dialogue and co-creation in financing for development.

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