Monetary Valuation Techniques of the Environmental Impact, in Sustainable Development Projects

摘要

Sustainable development projects, aiming to improve the quality of the environment, are projects with mainly non-monetary results, but with a great need of monetary resources. They are usually implemented by public authorities, that decide if and to what extent such a project is to be financed. The decision relies mainly on the balance of the non-monetary costs and benefits of the project. In order for such costs and benefits to join the financial results of the project in the analysis, several alternative valuation techniques have been developed. The present paper tries to shortly describe the monetary valuation techniques of non-market, environmental goods and services and discusses their relevance in the later implementation of the project.