Prime Minister Narendra Modi has proposed the creation of a “green gross domestic product (Green GDP).”

In a free-wheeling conversation with philanthropist and Microsoft co-founder Bill Gates, the PM stressed the need to change the global terminology to address climate change, during the conversation. He said that climate action has gained momentum since the G20 Summit in India in September last year.

The prime minister asserted that the world needs to adopt a two-pronged strategy: first, nature- and climate-friendly innovation; and second, environmentally friendly lifestyles, in response to Gates’ question about how the green approach could be made more affordable for easier adoption.

Gates also reiterated the need for a “Green GDP” to be added to the GDP as a whole. He also praised Modi’s “Mission Innovation” initiative, which is working with the European Commission and 23 other nations to accelerate the clean energy revolution and move closer to the Paris Agreement’s objectives and net-zero pathways. The initiative includes India among its founding members.

“Our current challenge is how we perceive progress,” the PM said. “For instance, the amount of steel and energy used in a nation are frequently used to measure its level of development. If we stick to these guidelines, we will use more steel and electricity, which will raise our carbon emissions. This implies that we must adopt a new perspective. Climate-friendly lifestyle decisions and progress measurements are required. At the moment, all of our progress metrics are harmful to the climate.”

It must be noted that Gates, who visited India earlier this month, had spent an hour with the Prime Minister and his cabinet ministers, discussing how the Foundation can help India achieve its objectives in digital technology, women’s development, and climate change.