, Volume 16, Issue 4, pp 327–330 | Cite as

An objective and practical model for economic evaluation of environmental investment projects

  • Graham Earl
  • Tuula Moilanen


The problems faced by business as a result of the growth of the environmental agenda are described. The consequence this has on investment decisions is outlined and the trend, largely induced by present day investment appraisal techniques, for adopting ‘end-of-pipe’ rather than ‘Clean’ technology solutions is explained. A solution to this reactive investment approach is described by way of the Paras model. This adopts a holistic and practical approach and considers the special nature of environmental investments throughout all stages of the analysis. By objectively incorporating a measure for uncertainty within the analysis it adds considerable value and rationality to the decision-making process. The collaborative research project between the University of Surrey and Paras Ltd is described. This is run under the Engineering Doctorate programme and aims to develop a multicriteria decision tool to support the parallel quantification of the environmental and financial performance of investment projects.


Economic Evaluation Financial Performance Investment Decision Doctorate Programme Technology Solution 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.


Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.


  1. Pruett, M.C. (1990) Environmental cleaning costs and insurance: seeking a solution.Georgia Law Review 24, 705–32Google Scholar
  2. Gordon, T.A. and Westendorf, R. (1989) Liability coverage for toxic tort, hazardous waste disposal and other pollution exposures.Idaho Law Review 25, 567–618.Google Scholar

Copyright information

© Chapman & Hall 1996

Authors and Affiliations

  • Graham Earl
    • 1
  • Tuula Moilanen
    • 1
  1. 1.Centre for Environmental StrategyUniversity of SurreyGuildfordUK

Personalised recommendations