A streamlined approach to putting dollar values on benefits of water-sensitive cities investments David Pannell, UWA Various benefits Market – Cost savings; e.g. delayed or reduced investment in traditional infrastructure Non-market – – – – – – Health Comfort (temperatures) Aesthetics Recreation Environment Lack of restrictions on water use Information sources for non-market values Tranche 1 CRC studies Other published studies Grey literature Potentially new studies to fill key gaps Using the existing information Need for values to be used in different contexts than the original studies Too expensive and slow to do original studies every time Aim is to transfer or extrapolate existing results to new contexts This is not a new idea “Benefit Transfer” They have developed systematic approaches to transferring values Do it in a way that maximises validity Recognise the reasonable limits to transferring values Elements of our strategy - information Comprehensive database of studies, their results and their specific contexts A system that allows easy searching and interrogation Information in the database that is designed to help with Benefit Transfer Link to the BCA tool Elements of our strategy - guidance Best-practice guidelines on Benefit Transfer, with a focus on water-related benefits Worked examples A training package Elements of our strategy - consultation Work closely with end users – – – – Identify the priority value types Understand the contexts where they are needed Design the tool to suit their needs and capabilities Test the tool’s usability and usefulness with them Use the international experts to review our approach
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