NESC publishes secretariat paper on Cost-Benefit Analysis, Environment and Climate Change
- 15 November 2018
- Topics: Environment
- Types: News
The practice of cost-benefit analysis (CBA) has undergone substantial change in the last two decades, driven by the inclusion of environmental and climate-change considerations. The objective of this paper is to understand these changes and the implications they have for the implementation of CBA to Irish project appraisal. It sets out briefly what CBA is and how it is applied in Ireland. It then outlines the changes in international practice, in particular changes related to the time horizon, discount rates, valuation of costs and benefits, and the carbon price.
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