BRINGING MONETARISATION INTO ENVIRONMENTAL ASSESSMENT: THE OECD APPROACH

Although OECD member governments have resisted international standardisation of the valuation of environmental impacts, they partly agree on what constitutes good practice. In April 1997, transport ministers considered an ECMT (European Conference of Ministers of Transport) report on strategic environmental appraisal, with recommendations on having strategic appraisal inserted early in the planning process, applying it to policies as well as projects and programmes, and sharing experience in developing methodologies. The Task Force on the Social Costs of Transport was set up in 1995, composed of government and private sector economists from across Europe. Its report will soon be published, and summarise the theoretical and practical dimensions of internalisation, review recent estimates of the external costs of transport, explore the mix of policies that might be used to promote successful internalisation, and estimate the size of incentives needed in monetary terms. This work sheds light on approaches to monetarisation in environmental assessment. This paper discusses the following aspects: (1) good practice; (2) validation and divergence of estimates; (3) marginal cost estimates; (4) data and results; and (5) shadow prices for externalities, noise, local air pollution, and climate change. For the covering abstract, see IRRD E100071.

• Corporate Authors:

  Landor Publishing Limited

  Quadrant House 250 Kennington Lane
  London SE11 5RD,   England 
• Authors:
  • Perkins, S
• Publication Date: 1997

Language

• English

Media Info

• Features: References;
• Pagination: 16 p.
• Serial:
  • DETERMINING MONETARY VALUES OF ENVIRONMENTAL IMPACT. PROCEEDINGS OF THE CONFERENCE HELD LONDON, 8 OCTOBER 1997
  • Publisher: Landor Publishing Limited

Subject/Index Terms

• TRT Terms: Conferences; Costs; Economic factors; Economics; Environmental impact analysis; Expert evidence; Federal government; Incentives; International; Planning; Policy; Standards; Transportation
• Geographic Terms: Europe
• ITRD Terms: 8525: Conference; 224: Cost; 263: Economics of transport; 8034: Europe; 1528: Expert opinion; 183: Government (national); 2436: Impact study (environment); 9034: International; 143: Planning; 173: Policy; 1578: Reward (incentive); 187: Specification (standard)
• Subject Areas: Economics; Planning and Forecasting; Policy; Transportation (General);

Filing Info

• Accession Number: 00759333
• Record Type: Publication
• Source Agency: Transport Research Laboratory
• Files: ITRD
• Created Date: Feb 19 1999 12:00AM