Economics for the Environment Consultancy (EFTEC)

Environmental Resources Valuation Services

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Environmental and cultural resources contribute to human wellbeing and hence have economic value. Valuation methods entail collecting quantitative evidence in this regard which is essential for efficient decision-making, for example: Proving ‘value for money’ for environmental investments where the benefits are assumed to be intangible such as conservation of biodiversity or informal recreation – where valuation can show that these benefits are in fact tangible; Choosing amongst competing investments with different environmental impacts (for example, between conservation and development options); Prioritising amongst different environmental resources or challenges for environmental policy; Setting the correct level of tax on a pollutant; and Setting prices for environmental resources, such as water pricing or entry to a recreational site.

We offer 20 years of experience in economic valuation covering a wide range of environmental, health and cultural policy issues and contributing to decisions concerning multi-billion £ investments in the UK and the rest of the world.

We have hands on experience of implementing primary research using all economic valuation methods (market prices, avertive behavior, travel cost, hedonic pricing, contingent valuation, choice modeling and value transfer). We have been at the forefront of the practical development of the ecosystem services approach and together with our associates have contributed to The Economics of Ecosystems and Biodiversity (TEEB) and the UK National Ecosystem Assessment.

With all this experience, our team offers statistical and econometrics expertise and an in-depth understanding of economic valuation and how this can help you make more sustainable decisions.

We have conducted valuation studies for public and private sector clients in both developed and developing countries in a wide variety of sectors and environmental media:

  • Water resources and wasterwater management;
  • Recreation and tourism;
  • Energy generation and air quality;
  • Air pollution and human health;
  • Transport and landscape;
  • Road and rail noise and vibration;
  • Urban regeneration;
  • New housing and urban fringe development;
  • Economic value of cultural and historic heritage sites and
  • Environmental and health impacts of pesticide use.

We also develop databases of economic value evidence for our clients to assist with decision-making. Example includes in water quality, recreation management and flood risk management contexts.

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