Defra has recently published the outputs from this eftec project which provide practical guidelines for valuing environmental impacts via ‘value transfer’. The guidelines augment Defra’s An introductory guide to valuing ecosystem services[1], which seeks to ensure that the true value of ecosystems and the services they provide are taken into account in policy decision-making. Value transfer (VT) utilises existing economic valuation evidence in a new appraisal context. Its advantages are that it is typically quicker and lower cost compared to primary valuation studies. The guidelines are intended to assist economists, policy analysts and scientists in all aspects of undertaking value transfer including determining the level of detail in analysis and methods, selecting the most suitable economic value evidence from available studies and presenting results for decision-making.

The guidelines and documents for download can be accessed here:

http://www.defra.gov.uk/environment/policy/natural-environ/using/valuation/index.htm

[1] Defra (2007) An introductory guide to valuing ecosystem services:

http://www.defra.gov.uk/environment/policy/natural-environ/using/