Environmental Sustainability and Cost-Benefit Analysis

  title={Environmental Sustainability and Cost-Benefit Analysis},
  author={Edward B. Barbier and Anil Markandya and David William Pearce},
  journal={Environment and Planning A},
  pages={1259 - 1266}
Efforts to ‘operationalize’ a concept of sustainability into appraisal methods for practical decisionmaking have been few and generally unpersuasive. In this paper it is argued that this need not be the case if a set of environmentally compensating, or ‘shadow’, projects within an overall portfolio are used to ensure a sustainability objective of setting a constraint on the depletion and degradation of the stock of natural capital. This can be achieved through both a ‘weak’ and a ‘strong… Expand

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