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Comparison of Different Monetization Methods in LCA: A Review

Different LCA methods based on monetization of environmental impacts are available. Therefore, relevant monetization methods, namely Ecovalue12, Stepwise2006, LIME3, Ecotax, EVR, EPS, the Environmental Prices Handbook, Trucost and the MMG-Method were compared quantitatively and qualitatively, yielding results for 18 impact categories. Monetary factors for the same impact category range mostly between two orders of magnitude for the assessed methods, with some exceptions (e.g., mineral resources with five orders of magnitude). Among the qualitative criteria, per capita income, and thus the geographical reference, has the biggest influence on the obtained monetary factors. When the monetization methods were applied to the domestic yearly environmental damages of an average EU citizen, their monetary values ranged between 7941.13 €/capita (Ecotax) and 224.06 €/capita (LIME3). The prioritization of impact categories varies: Stepwise and Ecovalue assign over 50% of the per capita damages to climate change, while EPS and LIME3 assign around 50% to mineral and fossil resource use. Choices regarding the geographical reference, the Areas of Protection included, cost perspectives and the approach to discounting strongly affect the magnitude of the monetary factors. Therefore, practitioners should choose monetization methods with care and potentially apply varying methods to assess the robustness of their results.
monetary valuation, Environmental effects of industries and plants, LCA, environmental valuation, TJ807-830, 620 Ingenieurwissenschaften und zugeordnete Tätigkeiten, TD194-195, Renewable energy sources, Environmental sciences, monetization, GE1-350, weighting, ddc: ddc:620
monetary valuation, Environmental effects of industries and plants, LCA, environmental valuation, TJ807-830, 620 Ingenieurwissenschaften und zugeordnete Tätigkeiten, TD194-195, Renewable energy sources, Environmental sciences, monetization, GE1-350, weighting, ddc: ddc:620
citations This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).63 popularity This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.Top 1% influence This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).Top 10% impulse This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.Top 1%
