Ecosystem services in the appraisal of the economic performance of urbanregeneration projects exemplified by the JESSICA initiative

Piotr Idczak , Ida Musiałkowska , Karol Mrozik

Abstract

The purpose of this paper is to indicate the valuation importance of externalities derived from the urban ecosystem services (UES) in terms of their applicability in the appraisal process of urban regeneration projects co-financed from European funds. Specifically, it examines the impact of UES on the project’s economic performance, and thereby on human quality of life. Using the discounted cash flow method, this paper estimates the project’s economic performance indicators including the identified UES upon their prior valuation. The valuation was carried out on the basis of the benefit analysis, contingent valuation method – “willingness to pay” and benefit transfer method, as recommended by Bernaciak, Wojcieszak (2014) and Zawojska et al. (2016). Results show that urban projects including UES are characterised by the higher values of the economic performance indicators and they should be assessed higher than projects with little or no UES because of their stronger contribution to the sustainable development of urban areas. In spite of the fact that there are limitations due to the UES valuation techniques used in the study, the presented approach could be an important tool for the project’s appraisal.
Author Piotr Idczak (WGM / KE)
Piotr Idczak,,
- Department of European Studies
, Ida Musiałkowska (WGM / KE)
Ida Musiałkowska,,
- Department of European Studies
, Karol Mrozik - Uniwersytet Przyrodniczy w Poznaniu
Karol Mrozik,,
-
Journal seriesEkonomia i Środowisko, [Ekonomia i Środowisko], ISSN 0867-8898, e-ISSN 2300-6420, (N/A 20 pkt)
Issue year2019
No3 (70)
Pages114-129
Publication size in sheets0.75
Keywords in Polishusługi ekosystemowe w miastach, efeky środowiskowe, rezultaty gospodarcze, rewitalizacja, JESSICA
Keywords in Englishurban ecosystem services, environmental externalities, economic performance, urban regeneration, JESSICA initiative
DOIDOI:10.34659/2019/3/38
URL http://yadda.icm.edu.pl/yadda/element/bwmeta1.element.baztech-22c29c27-c932-48e7-9c10-72ace1b4bad5
Languageen angielski
Score (nominal)20
Score sourcejournalList
ScoreMinisterial score = 20.0, 07-04-2020, ArticleFromJournal
Publication indicators WoS Citations = 0
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