TAILIEUCHUNG - VALUING THE ENVIRONMENT: PAST PRACTICE, FUTURE PROSPECT

If we do not succeed in putting our message of urgency through to today's parents and decision makers, we risk undermining our children's fundamental right to a healthy, life-enhancing environment. Unless we are able to translate our words into a language that can reach the minds and hearts of people young and old, we shall not be able to undertake the extensive social changes needed to correct the course of development. The Commission has completed its work. We call for a common endeavour and for new norms of behaviour at all levels and in the interests of all. . | VALUING THE ENVIRONMENT PAST PRACTICE FUTURE PROSPECT by DAVID PEARCE CSERGE Working Paper PA 94-02 VALUING THE ENVIRONMENT PAST PRACTICE FUTURE PROSPECT by DAVID PEARCE Centre for Social and Economic Research on the Global Environment University College London and University of East Anglia Acknowledgements The Centre for Social and Economic Research on the Global Environment CSERGE is a designated research centre of the . Economic and Social Research Council ESRC . This paper was prepared for the First Annual International Conference on Environmentally Sustainable Development World Bank Washington DC September 30-October 1 1993. ISSN 0967-8875 Abstract Economists seek to measure the preferences of individuals for environmental improvement or conservation. Valuation is undertaken to allow the trade-oil s involved in economic development decisions to be explicit and thereby take the environment better into account. Examples are given of environmental valuation in developed and developing country settings and of local and global environmental problems. It is concluded that valuation assists in protecting the environmental and the prospects for its use are ever increasing both for decision making and for the estimation of indicators of well .

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