Ranking Environmental Projects

Environmental agencies and organisations face the challenge of deciding which of the many possible environmental projects they should support with their limited resources. Projects vary greatly in environmental benefits and costs, so selecting the best projects can make a major difference to the level of environmental benefits that can be generated for a given budget. Key principles for ranking environmental projects are presented and explained. A suitable formula to use as a metric for ranking projects is developed and explained. The formula accounts for environmental values, the effectiveness of management, time lags, behaviour change, various risks and various costs. The suggested formula includes a number of appropriate simplifications. A number of common mistakes to avoid are outlined.


Issue Date:
Sep 05 2013
Publication Type:
Working or Discussion Paper
PURL Identifier:
http://purl.umn.edu/156482
Total Pages:
45
JEL Codes:
D82; Q20; Q28
Note:
Please see revised/updated version of this paper - Working Paper 1507 published April 2015.
Series Statement:
Working Paper
1312




 Record created 2017-04-01, last modified 2017-05-27

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