What is cost-benefit analysis in environmental projects?
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What is cost-benefit analysis in environmental projects?
Cost-benefit analysis (CBA) in environmental projects evaluates the economic pros and cons of a project, considering both costs and benefits.
How do you calculate the costs and benefits?
Costs include initial investments, maintenance, and potential environmental impacts. Benefits can be measured in terms of ecosystem services, health improvements, and economic gains.
Can you give an example of a project that used CBA?
Sure! A common example is the assessment of a wetland restoration project, where the benefits of improved water quality and biodiversity were weighed against the costs of restoration.
What are some limitations of CBA in environmental projects?
Limitations include difficulty in quantifying non-market values, potential bias in estimating costs and benefits, and the challenge of long-term predictions.
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