The book provides guidance on the recent developments in Cost Benefit Analysis (CBA) and the application of CBAs to policies or projects that either explicitly aim for environmental improvement or affect, in some way, the natural environment as an indirect consequence. It mainly emphasizes that social benefits must exceed social costs. Next to assessing more recent advances in CBA theory, it is a primary objective of the book to identify how specific developments illustrate key thematic narratives with implications for practical use of environmental CBA in policy formulation and appraisal of investment projects.
Lifecycle Phase(s): PrioritizationAuthorities decide which projects to realize and how to allocate resources., Project PlanningGeneral strategy for a project’s delivery is developed.
Type(s) of Tool: GuidelinesOperationalize sustainability principles, less specific than Benchmarks or Rating Systems., Economic / Financial ValuationsAnalyses the economic/financial value and risks related to projects.