Flachenecker, F;
Bleischwitz, R;
Rentschler, JE;
(2016)
Investments in material efficiency: the introduction and application of a comprehensive cost–benefit framework.
Journal of Environmental Economics and Policy
, 6
(2)
pp. 107-120.
10.1080/21606544.2016.1211557.
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Abstract
Increasing material efficiency is considered to yield multiple economic and environmental benefits. This paper firstly introduces a comprehensive cost–benefit framework to systematically assess the viability of investments in material efficiency. The framework comprises several components by (1) comparing a business-as-usual scenario with a scenario of scaling up investments in material efficiency, (2) covering economic and environmental dimensions, and (3) considering direct and indirect effects. In a second step, we match the framework to existing evidence from the literature, followed by an application of the framework to a microeconomic investment project financed by a multilateral development bank. Our results suggest that material efficiency investments can yield positive net benefits, which typically increase when non-monetary dimensions are additionally taken into account. Overall, our analysis calls for a more comprehensive approach towards material efficiency investment appraisals, the internalisation of externalities, and further empirical research to better understand the implications of moving towards material efficient economies.
| Type: | Article |
|---|---|
| Title: | Investments in material efficiency: the introduction and application of a comprehensive cost–benefit framework |
| Open access status: | An open access version is available from UCL Discovery |
| DOI: | 10.1080/21606544.2016.1211557 |
| Publisher version: | http://dx.doi.org/10.1080/21606544.2016.1211557 |
| Language: | English |
| Additional information: | This is an Accepted Manuscript of an article published by Taylor & Francis in the Journal of Environmental Economics and Policy on 27 July 2016, available online: http://www.tandfonline.com/10.1080/21606544.2016.1211557. |
| Keywords: | Competitiveness, cost–benefit analysis, investments, material efficiency |
| UCL classification: | UCL UCL > Provost and Vice Provost Offices > UCL BEAMS UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of the Built Environment UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of the Built Environment > Bartlett School Env, Energy and Resources |
| URI: | https://discovery.ucl.ac.uk/id/eprint/1530925 |
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