Methodological Convention 3.2 for the Assessment of Environmental Costs

Abstract

The new version of the UBA Handbook on Environmental Value Factors – the „Methodological Convention 3.2” – contains a partial update of the monetized environmental impacts published in the “Methodological Convention 3.1”, based on new value factors for greenhouse gas and air pollutant emissions. A comprehensive update of all value factors – including components such as emission factors and utilization rates – will be published in the Handbook on Environmental Value Factors 4.0, scheduled for 2025.Environmental value factors reflect the benefit of environmental protection for society – and the costs that society incurs if environmental protection is neglected. The value factors can be used in the public sector to assess, e.g., the impacts of regulation and infrastructure investments, and for the design of economic instruments. In the corporate sector, the value factors can be used, i.a., to inform management decisions, monetize the environmental impacts of financial investments, and in sustainability reporting.