July 2019 Newsletter

Welcome to our July newsletter:

  • The ISO standard on monetary valuation is out;
  • UK government publishes is Green Finance Strategy;
  • Rob Daniel joins our team. 

ISO 14008 Monetary Valuation

ISOWhen we undertook our first economic valuation study back in 1998, we couldn't imagine there being an International Standards Organisation standard on these methods. Now, after several hundred person days volunteered by many and many discussions about the meaning of what initially seemed to be the simplest of words, we have a standard!

Economic values are context specific so an ISO standard on valuation methods cannot be prescriptive – we can never anticipate all contexts, and methods will evolve before the ink dries on the standard text. Therefore, the standard focuses on what should be reported at the end of a valuation study and puts the responsibility on the practitioner to justify why a reporting element is not available. 

eftec provided two of the UK experts working on this standard – on a voluntary basis, which is often the way with these things. It was great that the expert team reflected the multidisciplinary nature of the teams involved in applied economic valuation. We hope the standard will help practitioners as well as commissioners of such work.

Green Finance Strategy 

Green Finance StrategyWe want to draw your attention to this Strategy as we all need to get familiar with the world of finance….but what’s the use of having evidence on economic value if it cannot generate facilitate finance to sustain that value?! 

Rob Daniel joins eftec 
Rob joined us earlier this month and brings in experience on international climate finance, forestry economic and cost benefit analysis. Previously he was at the UK Department for Business, Energy and Industrial Strategy working on better regulation agenda for several energy policies, quality assurance for carbon appraisal for airport expansion and performance monitoring of the UK aid portfolio for international climate change mitigation. Rob holds a BA Economics from University of Warwick and a MSc in Specialised Economic Analysis: Economics for Public Policy from Barcelona Graduate School of Economics.  Welcome Rob!