Abstract
This paper focuses on conflicts between short-term economic development and long-term environmental problems. It starts with a brief historical overview of the role of environmental externalities and related social costs in economic theory. Following the international debate after the publication of the Brundtland report - Our Common Future - the paper will elaborate on the notion of ecologically sustainable development. The main question tackled in this paper is how to use the sustainability concept In project appraisal in addition to the traditional criteria of efficiency and equity. Issues in the triangular relationship between these three key development objectives will be discussed in great detail, with specific reference to developing countries. Definitions of the key criteria of sustainability, efficiency and equity will be proposed, including issues such as risk assessment and intergenerational trade-offs. Identification of sustainability-oriented project profiles and impact matrices are the logical follow-ups of the previous approach. In this context, considerable attention will be paid to problems inherent in measuring scores on the environment and on sustainability. Finally, comparison and integrated evaluation of projects in sustainability-oriented project appraisal will be dealt with.
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van Pelt, M.J.F., Kuyvenhoven, A., Nijkamp, P. (1992). Sustainability, Efficiency and Equity: Project Appraisal in Economic Development Strategies. In: Colombo, A.G. (eds) Environmental Impact Assessment. Eurocourses, vol 1. Springer, Dordrecht. https://doi.org/10.1007/978-94-011-2528-4_16
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DOI: https://doi.org/10.1007/978-94-011-2528-4_16
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