Implementing Whole Life Carbon Accounting in Process Selection

Authors: Koodie, A.V.; Chan, T.F.; Reed, R.J.R.

Source: Proceedings of the Water Environment Federation, WEFTEC 2010: Session 71 through Session 80 , pp. 5343-5355(13)

Publisher: Water Environment Federation

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Abstract:

Water companies in the UK must now include carbon accounting in their decision making process when investing in treatment plant. Typically, this will be incorporated as part of a Cost Benefit Analysis (CBA) which will include both the whole life financial cost and the whole life carbon cost. Carbon valuation for appraisal is controversial in that there are a variety of different approaches in deriving a carbon price. Metrics such as the Social Cost of Carbon (SCC), the Marginal Abatement Cost (MAC), the Shadow Price of Carbon (SPC) and traded and non-traded Market Prices have all been utilised in whole life carbon assessment. Historically, the water companies in the UK have utilised the SPC as a key component to value the expected increase or decrease in greenhouse gas emissions. The SPC is the price at which the SCC and MCC converge. In all cases the carbon value is converted into a carbon dioxide equivalent (CO₂e) for ease of comparison. With the increased awareness of climate change and commitments in reducing greenhouse gas emissions it is likely that implementing whole life carbon accounting in process plant selection may become an established protocol globally for the water industry. This paper provides commentary on the main carbon valuation approaches and examines the impact of whole life carbon cost as part of the overall CBA on several upgrade projects.

Keywords: Whole life carbon accounting; carbon valuation; Cost Benefit Analysis

Document Type: Research article

Publication date: 2010-01-01

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Proceedings of the Water Environment Federation is an archive of papers published in the proceedings of the annual Water Environment Federation® Technical Exhibition and Conference (WEFTEC® ) and specialty conferences held since the year 2000. These proceedings are not peer reviewed.

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Implementing Whole Life Carbon Accounting in Process Selection

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