To compute the ‘Index of Sustainable Economic Welfare’, which of the following corrections is/are made…

The Index of Sustainable Economic Welfare (ISEW), developed by Herman Daly and John Cobb as an environmental and welfare-oriented alternative to GDP, explicitly adjusts national consumption/income by subtracting the costs of environmental degradation (such as air, water, and noise pollution, loss of wetlands and farmland, and depletion of non-renewable natural capital, ). This environmental sustainability deduction is the central defining feature of the ISEW.