It is now widely recognised that wrong decisions have often been made because environmental services or values were not effectively accounted in decision making processes. Environmental economics is commonly understood to mean the process of placing financial values on non-market social and environmental goods and services, and has become a major area of research over the last three decades.
In practice there are significant practical and theoretical difficulties in making such transformations, and some of the techniques used are unreliable and controversial.
We take a pragmatic approach - identifying all the social, economic and environmental
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