Article

European Union (EU) legislation, such as the Water Framework Directive (WFD), as well as international, national, and regional environmental policies and strategies explicitly acknowledge the importance of environmental costs and benefits and the need to integrate them into the policy-making process. However, the application of valuation studies to policy often involves a trade-off between the accuracy of the required analysis and the necessity to include all costs and benefits associated with the different policy options. Thus, there is no accepted EU-wide approach on how to deal with environmental benefits in the policy process. Read more