Developing a multicriteria approach for the measurement of sustainable performance
- Publisher:
- Taylor and Francis
- Publication Type:
- Journal Article
- Citation:
- Ding Kam Chun 2005, 'Developing a multicriteria approach for the measurement of sustainable performance', Taylor & Francis, vol. 33, no. 1, pp. 3-16.
- Issue Date:
- 2005
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In Australia, cost-benefit analysis (CBA) is one of the conventional tools used widely by the public and the private
sectors in the appraisal of projects, It measures and compares the total costs and benefits of projects that are
competing for scarce resources in monetary terms, Growing concerns that the values of environmental goods and
services are often ignored or underestimated in the CBA approach have led to the overuse and depletion of
environmental assets, A model of a sustainability index as an evaluation tool that combines economic, social and
environmental criteria into an indexing algorithm is presented and described, The sustainability index uses monetary
and non-monetary approaches to rank projects and facilities on their contribution to sustainability. This process
enables the principle of trade-off to occur in the decision-making process and thereby allows environmental values to
be considered when selecting a development option. This makes it possible to optimize financial return, maximize
resource consumption and minimize detrimental effects to the natural and man-made world, A case study is used to
demonstrate the model.
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