Standard No.:	GB/T 24008-2024
English Name:	Monetary valuation of environmental impacts and related environmental aspects
Chinese Name:	环境影响及相关环境因素的货币价值评估
Chinese Classification:	Z00    Standardization and quality management
Professional Classification:	GB    National Standard
Source Content Issued by:	SAMR, SAC
Issued on:	2024-09-29
Implemented on:	2024-9-29
Status:	valid
Target Language:	English
File Format:	PDF
Word Count:	17000 words
Translation Price(USD):	510.0
Delivery:	via email in 1~3 business day

GB/T 24008-2024 Monetary valuation of environmental impacts and related environmental aspects 1 Scope This document specifies a methodological framework for the monetary valuation of environmental impacts and related environmental aspects. Environmental impacts include impacts on human health, and on the built and natural environment. Environmental aspects include releases and the use of natural resources. The monetary valuation methods in this document can also be used to better understand organizations’ dependencies on the environment. During the planning of the monetary valuation, the intended use of the results is considered but the use itself is outside the scope of this document. In this document, monetary valuation is a way of expressing value in a common unit, for use in comparisons and trade-offs between different environmental issues and between environmental and other issues. The monetary value to be determined includes some or all values reflected in the concept of total economic value. An anthropocentric perspective is taken, which asserts that natural environment has value in so far as it gives utility (well-being) to humans. The monetary values referred to in this document are economic values applied in trade-offs between alternative resource allocations, and not absolute values. This document does not include costing or accounting, although some valuation methods have the term “cost” in their name. This document does not include the development of models linking environmental aspects to environmental impacts. Note: In this document, what is valued in monetary terms is either environmental impacts or environmental aspects. When valuing environmental impacts of an organization, it is important that links between environmental aspects and environmental impacts are established. 2 Normative references There are no normative references in this document. 3 Terms and definitions For the purposes of this document, the following terms and definitions apply. 3.1 Environmental impacts and environmental aspects 3.1.1 environment surroundings in which an organization operates, including air, water, land, natural resources (3.1.5), flora, fauna, humans and their interrelationships Note 1: Environment includes natural capital, ecosystem services (3.2.11), climate, abiotic services and biodiversity. Note 2: Natural resources include mineral resources. [SOURCE: GB/T 24001-2016, 3.2.1, modified.] 3.1.2 good natural resource (3.1.5), ecosystem service (3.2.11), product or service, marketed or not, that satisfies human wants or needs Note 1: In this document, the term “good” includes human health. Note 2: In GB/T 24040, the term “product” is defined as “any goods or service”. 3.1.3 environmental impact change to the environment (3.1.1), whether adverse or beneficial, wholly or partially resulting from an organization’s environmental aspects (3.1.4) [SOURCE: GB/T 24001-2016, 3.2.4] 3.1.4 environmental aspect element of an organization’s activities or products or services that interacts or can interact with the environment (3.1.1) Note 1: An environmental aspect can cause (an) environmental impact(s) (3.1.3). A significant environmental aspect is one that has or can have one or more significant environmental impact(s). Note 2: Significant environmental aspects are determined by the organization applying one or more criteria. This process can be referred to as a “materiality assessment”. [SOURCE: GB/T 24001-2016, 3.2.2, modified.] 3.1.5 natural resource part of nature that provides benefits to humans or underpins human well-being 3.1.6 ecosystem dynamic complex of plant, animal and micro-organism communities, and their non-living environment (3.1.1) interacting as a functional entity Example: Deserts, coral reefs, wetlands, rain forests, boreal forests, grasslands, urban parks, cultivated farmlands. Note: Ecosystems can be influenced by human activity. 3.1.7 release emission to air or discharge to water or soil [SOURCE: GB/T 24040:2006, 3.30, modified.] 3.1.8 reference unit of monetary value unit of environmental change for which the monetary value (3.2.3) is determined 3.1.9 environmental impact pathway series of consecutive, causal relationships, ultimately starting at an environmental aspect (3.1.4) and ending at an environmental impact (3.1.3) Note: A synonym for environmental impact pathway is “cause-effect chain”. Note: It can be considered a system of interlinked environmental mechanisms. 3.1.10 environmental impact factor quantity of environmental impact (3.1.3) per quantity of environmental aspect (3.1.4) 3.1.11 environmental baseline state of environment (3.1.1) without the change(s) that is valued 3.2 Environmental economics 3.2.1 willingness to pay; WTP maximum amount of money an individual is prepared to give up to secure an environmental improvement or to avoid an environmental loss Note: In practice, WTP and willingness to accept compensation (WTA) (3.2.2) appear to diverge, often substantially, and with WTA > WTP. Hence, the choice of WTP or WTA can be of importance. 3.2.2 willingness to accept compensation; WTA minimum amount of money an individual is prepared to accept as compensation to forgo an environmental improvement or to tolerate an environmental loss Note: In practice, willingness to pay (WTP) (3.2.1) and WTA appear to diverge, often substantially, and with WTA > WTP. Hence, the choice of WTP or WTA can be of importance. 3.2.3 monetary value amount of money representing willingness to pay (WTP) (3.2.1) or willingness to accept compensation (WTA) (3.2.2) Note 1: What is valued in monetary terms by default is marginal changes in quality or quantity of goods (3.1.2). It is not the absolute value of any given good or service that is valued. The size of change depends on the context. Note 2: Commonly, the WTP distribution in a given population is skewed. While mean WTP is the theoretically correct measure to use, for example, in cost-benefit analyses, median WTP can be argued to be the better predictor of what the majority of people would actually be willing to pay if the WTP distribution is skewed. This equally applies to WTA. 3.2.4 monetary valuation procedure for determining monetary value (3.2.3) 3.2.5 use value monetary value (3.2.3) of a good (3.1.2) in relation to its actual, planned or possible use 3.2.6 non-use value monetary value (3.2.3) of a good (3.1.2) independent of its actual, planned or possible use 3.2.7 revealed preference monetary value (3.2.3) placed by an individual on a market good (3.1.2) from which the individual’s valuation of a non-market good is inferred Note: The market of the market good is termed “surrogate market”. 3.2.8 stated preference monetary value (3.2.3) expressed by an individual through survey-based response for a good (3.1.2) in a constructed or hypothetical market Note: The market of the good to be valued does not exist or exists but the change valued is not experienced. It is therefore termed “constructed” or “hypothetical”. 3.2.9 value transfer transfer of a monetary value (3.2.3) estimate from a primary monetary valuation (3.2.4) study to another context 3.2.10 affected human population group of people whose well-being, utility or values are influenced directly or indirectly by the environmental impact (3.1.3) 3.2.11 ecosystem service benefit people obtain from ecosystems (3.1.6) Note 1: These are generally distinguished into provisioning, regulating, supporting and cultural services. Ecosystem services include the provisioning of goods (3.1.2) (e.g. food, fuel, raw materials, fibre), regulating services (e.g. climate regulation, disease control), and non-material benefits (cultural services) (e.g. spiritual or aesthetic benefits). The supporting services are necessary for the production of all other ecosystem services (e.g. soil formation, nutrient cycling, water cycling) and are also referred to as “ecosystem functions”. Note 2: Ecosystem services are sometimes called “environmental services” or “ecological services”.