Cost-Benefit Analysis in Environmental Policy

Cost-Benefit Analysis (CBA) in environmental policy is a method used to evaluate the economic advantages and disadvantages of a proposed project or regulation. It involves comparing the costs of implementing an environmental policy, such as cleanup efforts or emissions reductions, against the expected benefits, like improved public health or ecosystem preservation. By quantifying these aspects, policymakers can make informed decisions about whether a policy is worthwhile, ensuring that resources are allocated efficiently to generate the greatest overall benefit for society and the environment.