Methods of Appraisal
Appraisal techniques such Cost Effectiveness Analysis and Cost Benefit Analysis, play central roles in policy processes in Ireland. The practice and application of policy appraisal has undergone significant change globally, driven in large part by sustainability and climate change considerations. Some of the key themes include climate change mitigation and adaptation, non-climate environmental themes such as air pollution and the challenges of valuing of ecosystems.
The project will examine key practice issues including discount rates, co-benefits, carbon pricing, market efficiency, uncertainty and risk and measuring the full social cost in analytical results. It will also address the use of results as tools to aid strategic decision-making under uncertainty, equity considerations and the value of different approaches. The project builds on the previous work of NESC in this area, experiences within Ireland and in specific sectors, and international updates in the field of appraisal including those from the OECD and the IPCC.