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Application LCA for eco-efficiency assessment of investments projects

Date added: 2015-07-01
Type: Article
Languages: English

Author / authors

Joanna Kulczycka

Joanna Kulczycka

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Marzena Smol

Marzena Smol

Technology

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Abstract

Eco-efficiency which takes into account the life cycle idea is a relatively new concept described by ISO Interna-tional Standard 14045:2012. It can be used in environmental management by integration environmental considerations with economic analysis to improve products and technologies. Nowadays, eco-efficiency is a strategic tool and it is one of the key factors of it sustainable development. In the investment decision-making process, to assess new technology solutions and to choose the best options, the eco-efficiency account should be introduced. Life Cycle Assessment (LCA) as a method used to assess environmental aspects and quantified impacts of investment project is proposed. Life cycle cost analysis being the combination of Net present value (NPV) with life cycle cost (LCC) was chosen for quantifying their financial effects. The eco-efficiency analysis based on LCA can be recommended not only as a decision support tool for individual inves-tors, but also for ranking of investment projects when applying of financial support from structural or other national funds, as well in sustainable public procurement.

Keywords / Tags

Key words: eco-efficiency, environmental protection, investment project, life cycle assessment, lca

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