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Monetization for integration of LCSA results - state of the art and perspectives

In: Handbook on Life Cycle Sustainability Assessment

Author

Listed:
  • Till M. Bachmann
  • Rosalie Arendt
  • Jonathan van der Kamp

Abstract

Monetization is one way of weighting and aggregating LCSA results. This chapter gives an overview of available standards and the implication of monetization. While monetization is straightforward for Life Cycle Costing (LCC), it is more complex to accomplish for the environmental (LCA) and especially for the social dimension (S-LCA). Following up on recent reviews, this chapter presents nine monetary valuation methods currently available for LCA, including which indicators are monetized in which way and for which geographical scope. A difficulty with S-LCA is that it is largely based on qualitative or semi-quantitative indicators. Attempts to monetize these (e.g., via stated preference techniques) are not known, while social indicators relying on financial data do exist. Ongoing research explores the existence of further economic indicators beyond traditional LCC (e.g., related to material criticality). Potential internal or external uses of monetized LCSA results are discussed, such as Integrated Profit and Loss Accounts, before concluding and giving perspectives.

Suggested Citation

  • Till M. Bachmann & Rosalie Arendt & Jonathan van der Kamp, 2024. "Monetization for integration of LCSA results - state of the art and perspectives," Chapters, in: Sonia Valdivia & Guido Sonnemann (ed.), Handbook on Life Cycle Sustainability Assessment, chapter 16, pages 213-231, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:20336_16
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    File URL: https://www.elgaronline.com/doi/10.4337/9781800378650.00026
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