Integrating environmental impacts into Cost-Benefit Analysis using emergy

This paper explores the lessons learnt from the Optimising Adaptation Investment projects for the Department of Climate Change and Energy Efficiency–it includes coastal settlements, water supply and rail infrastructure case studies. These projects are the first of their kind in Australia and are considered internationally as a leading example of economic cost benefit analysis. They have been used effectively to inform decision making on specific adaptation responses to climate change risks to existing and new infrastructure. The lessons learnt will be explored for offshore platforms, ports, rail, road, drainage, tailings dams, mine facilities, water, and power supply, which includes the following elements: What decision makers require to make informed decisions under the uncertainty of climate change impacts. Reducing the uncertainty through economic modelling and cost benefit analysis. Optimising the right timing and scale of various adaptation options. Benefiting from oil and gas infrastructure adaptation opportunities. To further support the elements above, the applied process for integrating climate adaptation into infrastructure planning, design and operation will be illustrated by AECOM project experiences. AECOM has completed more than 60 significant climate change risk and adaptation projects for mines, ports, water supply and treatment, energy generation, transmission and distribution, rail, road, and coastal settlements in Australia, including the report: Climate Change Impacts to Infrastructure in Australia for the Garnaut Climate Change Review.

The economic cost-benefit analysis method is used to the evaluation on roof greening projects of the urban building, the economic, environmental and social impact roof greening projects may have in the whole building life cycle is analyzed. The spatial extent and time span of the economic benefits and economic costs are determined. The path and method of economic benefit and economic cost calculation is studied. The economic cost-benefit analysis method is used to the evaluation on roof greening projects of the urban building, the economic, environmental and social impact roof greening projects may have in the whole building life cycle is analyzed. The spatial extent and time span of the economic benefits and economic costs are determined. The path and method of economic benefit and economic cost calculation is studied, which provides a reference for value evaluation of urban roof greening projects.

The purpose of the performed and presented financial analyzes, in the case of the two units, does not allow major discrepancies between the estimated and achieved situation. The authors have based the research on the technical-economic and financial analysis of investments, which sets economic efficiency and investments viability and assumes forecast of revenue, expenses, profit and loss account, balance sheet and cash flow: a) static analysis of indicators; b) dynamic analysis of indicators, c) cost-benefit analysis. Analysis of economic efficiency and sustainability of investments aimes at both static indicators of investment analysis and dynamic analysis of economic efficiency. The goal of research was to improve analyzes and economic indicators for assessing the effectiveness and sustainability of investments and the objectives targeted technical and economic analysis, solvency and viability of investments and the impact of the investment on key indicators of economic and financial technical analysis. Case studies, carried out at S.C. NORD INTERMED CONSULTING GROUP S.R.L. Dorneşti, Suceava county and S.C. ANDIMIR TOP S.R.L. Mihălăşeni, Botoşani county, led to a series of measures to improve the financial analysis of economic efficiency and sustainability of investments.

Integration of life cycle assessment software with tools for economic and sustainability analyses and process simulation for sustainable process design

Economic analysis of law is a powerful analytical methodology. However, as a purely consequentialist approach, which determines the desirability of acts and rules solely by assessing the goodness of their outcomes, standard cost-benefit analysis (CBA) is normatively objectionable. Thus, for example, it presumably approves the deliberate killing of one innocent person to save the lives of two, and the breaking of a promise whenever it would produce slightly more net benefit than keeping it. Moderate deontology prioritizes such things as autonomy, basic liberties, truth telling, and promise keeping over the promotion of good outcomes. It holds that there are constraints on promoting the good. Such constraints may be overridden only if enough good (or bad) is at stake. Thus, it may justify killing an innocent person only for the sake of saving many more (perhaps hundreds or thousands) people, and breaking a promise only to avoid considerable losses. Moderate deontology conforms to prevailing moral intuitions. At the same time, it is arguably lacking in methodological rigor and precision. Can the normative flaws of economic analysis be rectified without relinquishing its methodological advantages? Can deontological moral constraints be formalized and modeled so as to make their analysis more rigorous? This Article examines the possibility of combining economic methodology and deontological morality through explicit and direct incorporation of moral constraints into economic models. It discusses various substantive and methodological choices involved in modeling deontological constraints. It proposes to determine the permissibility of any act or rule infringing a deontological constraint by means of mathematical threshold functions. The Article presents the general structure of threshold functions and analyzes their elements. It then illustrates the implementation of constrained CBA in several contexts, including discrimination in the marketplace, legal paternalism, and risking innocent people while fighting terrorism. It then addresses possible objections to our proposal. Deontologically constrained CBA is more complex than standard CBA. Yet, we maintain that it is superior to its alternatives. It rectifies the normative flaws of conventional CBA without significantly compromising its methodological rigor. Concomitantly, it improves deontology by making the analysis of threshold constraints more precise and its policy implications potentially more determinate. Constrained CBA also better explains people's behavior and prevailing legal doctrines.

The subject-matter of the research is economic analysis in public law. This method evaluates both costs and benefits of the regulatory measures. When assessing the alternatives, the judges in public litigation take into account their side effects. If an economically effective alternative is found, it should be ensured that it imposes a minimal burden on the rightholder or the costs to third parties.The purpose of the research is to argue that the cost-benefits analysis should be limited primarily to the economic field. Otherwise, personal, political, and social rights can be conferred with the properties of goods (commodification).The methodology of research is based on approaches of school “law and economics”. Economic analysis of law makes it possible to construct a scale of constitutional values, albeit not uncontroversial, but universal. This scale offers the important advantage of introducing proportionality for seemingly disparate individual freedoms and public interests. The introduction of material and financial scales, including compensation even for irreparable intangible goods, represents a better solution than the available alternatives.The main results of the research and the scope of their application. The above-mentioned method consists of assessing the costs and benefits both for the right-holders and for achieving the common good. It is necessary to analyse the costs and benefits of the challenged legal provision to individuals. Then, the governmental costs incurred in using alternative means should be reviewed. The public authorities should not incur excessive organisational or financial costs from a legal alternative that is humane to the individual. Due to the objective constraint on public resources, judges take into account future budgetary expenditures.In constitutional adjudication and administrative litigation, cost-benefit analysis is most effective in the economic sphere. It is easier to ensure the measurability of judicial review, usually in monetary or other material terms. The preparatory works, including the financial and economic justification of draft laws or regulations, may serve as an informational source in reviewing the legislative provisions and administrative acts which entail material costs. The cost-benefit analysis is applicable to non-material sphere. Although such costs generated by regulators are often difficult to assess in public law. A cost-benefit analysis is possible even in the political sphere. At the same time the judges usually restrain itself from assessing the political expediency of legislative decisions and administrative actions. Conclusions. There is a danger of economic analysis being abused in public law. The disadvantages of using this methodology include the possible devaluation of values which are essential for democracy. The abstract common good and reducing public expenditure will prevail over individual freedoms.

Waste water result from operating activities of Grati Combined Cycled Power Plant (CCPP) is significant amount and has potentially to be reutilized. A recycling unit as the pilot project has been applied in Grati CCPP PT Indonesia Power UP Perak Grati for capacity 4 tons/hour of service water product. Development plant of Grati CCPP up to year 2018 will produce more amounts of waste water, and potentially increase the pollution load in the unit area.Considering the use of alternative development for unit recycled waste water effluent from the Waste Water Treatment Plant (WWTP) has implications to the environmental and cost aspects, therefore a proper assessment to decide the alternative is needed. Proposed method of Life Cycle Assessment (LCA) is to measure the impact to the environment. And the Cost Benefit Analysis (CBA) is to measure the economic criteria. To integrate the results of the two methods, it is used and calculated by using Hierarcy Analytical Process (AHP).The result of the study about the environmental impact and economic analysis, the development of the recycling unit is required to process all waste water produced by power plants. Focus group by experts in power plant operation using AHP is based on the results of SimaPro 7.0 and CBA. The most beneficial result is with a single score of 0.2314 Pt / 1 ton of water service, the payback period of 2.5 years, 37.5% IRR and NPV US$ 88,577.23 and the MMF-RO unit for total capacity of 14 tons/hour has become the most alternative of development.

This paper empirically illustrates the difference between a standard economic impact analysis (EIA) and a cost-benefit analysis (CBA). The EIA was conducted using an existing (input-output) I-O model (STEAM). The benefit side of the CBA included non-local visitor spending, the revenue of the local organizing committee (LOC), the consumer surplus, and public good value of the sport event for the local residents. The cost side of the CBA was estimated based on the opportunity costs related to the construction of the stadium (including labor costs and the cost of borrowing), imports, and ticket sales to locals. The EIA indicated that the 2005 Pan-American Junior Athletic Championships generated a net increase in economic activity in the city of $5.6 million. The CBA showed a negative net benefit of $2.4 million. Both methods presented challenges and limitations, but CBA has the distinct advantage that it identifies the net benefits associated with hosting a sport event.

This work develops a method for the optimal design of a solar-assisted combined heat and power (CHP) system, in which the solar thermal central receiver subsystem and the steam power cycle subsystem are integrated to meet the real-time requirements of steam and power from production process. A mathematical model with the objectives of minimum total annual cost (TAC) and environmental impact (EI) is formulated to optimize the configuration and the size of the major equipment units, and schedule the dynamic operation of entire system. This model accounts for the hourly variability of Direct Normal Irradiance (DNI) and the electricity load in a typical day, as well as the power losses caused by the partial load operation of steam turbines. Based on the presented model, the optimum level of solar capacity is determined through a comprehensive analysis considering the trade-off between TAC and EI of the system. At last, a case study is illustrated and the results are elaborated to demonstrate that the desired system configuration can be obtained by application of the proposed model.

Lany landfill, located in the Czech Republic, generates around 10 m3/d of leachate, heavily polluted with ammoniacal nitrogen, heavy metals and salts, which needs to be treated onsite in order to minimize their effect on the ecosystem and on human health. A sequencing batch reactor (SBR) was designed for ammoniacal nitrogen removal from the leachate and the economic feasibility and environmental impact of the designed SBR was assessed. From the cost-benefit analysis, capital expenditure (CAPEX) of 33,500 €/year and operational expenditure (OPEX) of 13,521 €/year were estimated. A shadow price concept tool was used to calculate the environmental benefit as 21,000 €/year. The net present value of the project was evaluated to be 19,528 € with an internal rate of return of 21.6%. For environmental assessment, triple bottom line (TBL) analysis on the existing practice of discharging the leachate to a nearby wastewater treatment plant and on-site treatment using SBR was performed. The total score for existing practice was calculated to be 55.1% while for on-site treatment it was 59.6%. Based on the results it was concluded that on-site treatment is both economically and environmentally feasible. A mitigation plan was also prepared for the impacts identified in the environmental assessment.

Valuing nature: From environmental impacts to natural capital

Allocation issues in LCA methodology: a case study of corn stover-based fuel ethanol

Emergy analysis to evaluate the sustainability of two oyster aquaculture systems in the Chesapeake Bay

Abstract— The article is dedicated to the problems of justifying public investment in projects aimed at Russian cultural heritage preservation. The case study considered in the article is the project “Preservation and Development of Small Historic Towns and Settlements” (Project). The preparation of this Project involved evaluation of its economic net present value. The results of the evaluation were used to justify the feasibility of public funding of the Project. Performing an economic cost-benefit analysis required conducting surveys of different target groups of potential users of the Project’s results regarding their willingness to pay for the proposed improvements. The surveys were conducted using contingent valuation methods in two historic towns: Rostov and Chistopol. The article discusses the methodological aspects of evaluating the efficiency of public investment in Russia and other countries and presents the results of the conducted surveys and the performed calculations of the Project efficiency indicators. The calculations show that the Project is justified at the federal level from the society’s perspective, as it has a positive economic net present value and an economic internal rate of return that exceeds the social discount rate.

PurposeThe paper aims to present an approach to cost-benefit analysis with stochastic data. Determining the type and the values of alternative’s factors are probably the most important issue in this approach. Therefore, in the proposed approach, a competitive advantage model was built to measure the values of alternative’s factors. Then, a satisfactory cost-benefit analysis model with random data was proposed to evaluate the alternatives. The cost-benefit analysis of each alternative was carried out to obtain the real and satisfactory cost-benefit of the decision-maker.Design/methodology/approachThis paper is orientationally expressed as a mathematical problem in which the optimization problem needs to analyze the approach. This paper is written based on uncertainty linear optimization. Optimization under uncertainty refers to this branch of optimization where there are uncertainties involved in the data or the model and is popularly known as stochastic optimization problems.FindingsAs was seen in the purpose part, in this paper, an approach is presented to cost-benefit analysis by the use of competitive advantage with stochastic data. In this regards, a stochastic optimization problem to assess competitive advantage is proposed. This optimization problem recognizes the values of alternative’s factors which is the most important step in cost-benefit analysis. An optimization problem is proposed to cost benefit analysis, as well.Practical implicationsTo investigate different aspects of the proposed approach, a case study with random data of 21 economic projects was considered.Originality/valueCost–benefit analysis is a systematic approach to estimating the strengths and weaknesses of alternatives used to determine options which provide the best approach to achieving benefits while preserving savings. Cost–benefit analysis is related to cost-effectiveness analysis. Benefits and costs are expressed in monetary terms and are adjusted for the time value of money; all flows of benefits and costs over time are expressed on a common basis in terms of their net present value, regardless of whether they are incurred at different times. As seen the paper using competitive advantage tries to determine the values of alternative’s factor. As competitive advantage model analyze the advantages and disadvantages of alternatives, this paper by the use of this idea tries to determine the costs and benefits. Two stochastic optimization problems in the middle of this approach are proposed, which assess competitive advantage and cost–benefit analysis, respectively.