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BS EN ISO 14008:2020

BS EN ISO 14008:2020

$167.15

Monetary valuation of environmental impacts and related environmental aspects

Published By Publication Date Number of Pages
BSI 2020 42
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This document specifies a methodological framework for the monetary valuation of environmental impacts and related environmental aspects. Environmental impacts include impacts on human health, and on the built and natural environment. Environmental aspects include releases and the use of natural resources.

The monetary valuation methods in this document can also be used to better understand organizationsā€™ dependencies on the environment.

During the planning of the monetary valuation, the intended use of the results is considered but the use itself is outside the scope of this document.

In this document, monetary valuation is a way of expressing value in a common unit, for use in comparisons and trade-offs between different environmental issues and between environmental and other issues. The monetary value to be determined includes some or all values reflected in the concept of total economic value. An anthropocentric perspective is taken, which asserts that natural environment has value in so far as it gives utility (well-being) to humans. The monetary values referred to in this document are economic values applied in trade-offs between alternative resource allocations, and not absolute values.

This document does not include costing or accounting, although some valuation methods have the term ā€œcostā€ in their name. This document does not include the development of models linking environmental aspects to environmental impacts.

NOTE In this document, what is valued in monetary terms is either environmental impacts or environmental aspects. When valuing environmental impacts of an organization, it is important that links between environmental aspects and environmental impacts are established.

PDF Catalog

PDF Pages PDF Title
2 undefined
4 European foreword
Endorsement notice
7 Foreword
8 Introduction
9 1 Scope
2 Normative references
3 Terms and definitions
3.1 Environmental impacts and environmental aspects
11 3.2 Environmental economics
13 4 Principles
4.1 General
4.2 Description of principles
4.2.1 Accuracy
4.2.2 Completeness
4.2.3 Consistency
4.2.4 Credibility
14 4.2.5 Relevance
4.2.6 Transparency
5 Planning a monetary valuation
5.1 General
15 5.2 Goal of the monetary valuation and its intended audience
5.3 Specification of the environmental impact or aspect
16 5.4 People whose preferences and perspectives are considered
5.5 Elements of the total economic value captured
17 5.6 Monetary valuation method
18 6 Requirements and procedures for monetary valuation
6.1 General
6.2 Market price proxies
6.2.1 Market prices of traded goods and labour
19 6.2.2 Cost-of-illness method
6.3 Revealed preference methods
6.3.1 General
20 6.3.2 Averting cost method
21 6.3.3 Hedonic pricing method
6.3.4 Travel cost method
22 6.3.5 Data derived from public referendums
6.4 Stated preference methods
6.4.1 General
24 6.4.2 Contingent valuation
6.4.3 Choice experiment
25 6.5 Value transfer
6.5.1 General
26 6.5.2 Spatial value transfer
6.5.3 Temporal value transfer
6.6 Currency and base year adjustments
6.6.1 General
6.6.2 Currency adjustments
6.6.3 Base year adjustments
27 6.6.4 Simultaneous adjustments of currency and base year
6.7 Equity weighting
6.8 Discounting
6.8.1 General
28 6.8.2 Discounting at a constant rate
6.8.3 Discounting at varying rates
29 6.9 Analysis of uncertainty and sensitivity
7 Linking monetary values of environmental impacts to related environmental aspects
30 8 Quality check
9 Reporting
33 Annex A (informative) Flowchart on an application of this document
35 Annex B (informative) Assessing similarities in value transfer ā€” Example of non-timber forest ecosystem services
36 Annex C (informative) Monetary valuation in welfare economics
39 Annex D (informative) Example of a database format
40 Bibliography

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BS EN ISO 14008:2020
$167.15