Monetisation of social impacts of food production

Sustainability issues cannot be compared with each other (some issues are expressed in CO2- equivalents (climate change) and other is m2 per kg (land use). Monetisation is a way to make these issues more comparable for decision making. To make the problem somewhat less complicated we start with natural capital issues commonly identified and assessed by LCAs.  LCA is a broadly accepted technique to assess the environmental impact of product life cycles. An LCA study can show trade-offs between environmental impacts. For decision making at firm level or national level the different natural capital issues need be made comparable. Monetisation is one of the ways to make the impacts comparable. The objective of the project is to research what the possibilities are to make different sustainability options comparable by monetisation. This will be applied to production and consumption of food. The focus is on the valuation methods and the monetisation of natural capital issue valued by LCAs such as climate change, water quality, soil quality, air quality, biodiversity. But also social and human capital issues will be taken into account.  

WUR developed several frameworks to measure the sustainability of food in agricultural chains. To support decision making of firms, farms, government and consumers it is important to be able to compare the different sustainability issues. Monetisation is one way to express all issues in one unit. The possibilities of expression all issues in one unit will be researched in this project.