The benefits of integrating cost-benefit analysis and risk assessment
- Beak Consultants Ltd., Brampton, Ontario (Canada)
It has increasingly been recognized that knowledge of risks in the absence of benefits and costs cannot dictate appropriate public policy choices. Recent evidence of this recognition includes the proposed EPA Risk Assessment and Cost-Benefit Analysis Act of 1995, a number of legislative changes in Canada and the US, and the increasing demand for field studies combining measures of impacts, risks, costs and benefits. Failure to consider relative environmental and human health risks, benefits, and costs in making public policy decisions has resulted in allocating scarce resources away from areas offering the highest levels of risk reduction and improvements in health and safety. The authors discuss the implications of not taking costs and benefits into account in addressing environmental risks, drawing on examples from both Canada and the US. The authors also present the results of their recent field work demonstrating the advantages of considering costs and benefits in making public policy and site remediation decisions, including a study on the benefits and costs of prevention, remediation and monitoring techniques applied to groundwater contamination; the benefits and costs of banning the use of chlorine; and the benefits and costs of Canada`s concept of disposing of high-level nuclear waste. The authors conclude that a properly conducted Cost-Benefit Analysis can provide critical input to a Risk Assessment and can ensure that risk management decisions are efficient, cost-effective and maximize improvement to environmental and human health.
- OSTI ID:
- 230875
- Report Number(s):
- CONF-9511137-; ISBN 1-880611-03-1; TRN: IM9623%%185
- Resource Relation:
- Conference: 2. Society of Environmental Toxicology and Chemistry (SETAC) world conference, Vancouver (Canada), 5-9 Nov 1995; Other Information: PBD: 1995; Related Information: Is Part Of Second SETAC world congress (16. annual meeting): Abstract book. Global environmental protection: Science, politics, and common sense; PB: 378 p.
- Country of Publication:
- United States
- Language:
- English
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