The valuation of externalities in maritime infrastructure projects
Climate change and increasing environmental damage are demonstrating the urgency of transformation to a sustainable global economic model. The implementation of the sustainable development concept tends to narrow to integrating environmental, social, and economic concerns in the decision making. In economics, the definition of such concerns is an externality that represents the divergence between social and private costs. This study investigates the available sustainable asset valuation methods that can include the externalities materialised in maritime infrastructure projects and compares them based on economic, social and environmental criteria.
The responsible project: A view on social licence
In today’s world, expectations for sustainable practices are fast becoming the norm. Countries, the public and communities are requesting transparency, the application of higher environmental standards and involvement in decision-making processes when new developments in a marine environment are proposed. Marine infrastructure projects not only require environmental permits and works licences to be in place, they also need a Social Licence to Operate (SLO). This article describes the social licence in this fast-changing context of information and technology, and explores tools that can be used to develop a ‘responsible project’ and provide a successful and sustainable outcome for society and the environment.
Presentation: ‘Private Financing of Green Solutions’ by Mark van Geest (Boskalis) − Project Finance Manager
Private capital can accelerate the green transition of sustainable infrastructure solutions, so how can we unlock the private capital potential?
Presentation: ‘Hondsbossche and Pettemer Sea Defence an example of sustainable asset valuation’ by Sven Kramer (Van Oord) − Director Sustainability
This presentation shows the practical implications of taking all externalities into consideration as early as possible in a project procedure. It is complex but asset valuation is gradually becoming more and more feasible for large infrastructure projects. The independent International Institute of Sustainable Development carried out a study on the benefits of “Nature Based” coastal Protection compared to traditional “Grey” solutions. Their report is expected to be published mid-November 2021.
Presentation: ‘There is ”more” in maritime infrastructure‘ by Marc Huygens (DEME) − Environmental Manager
There are opportunities to develop and implement new solutions for maritime infrastructure challenges. In addition to technical-economical values there is a big commitment to create both environmental and social values. To take the industry to the next level it is necessary to attract students and young professionals to the industry to ensure all externalities are taken into consideration from the onset of a project. The “Social Benefits Wheel” is a tool that can help track the degree to which a project or programme is attaining its social development targets and goals.
Presentation: ‘Sand as a Resource’ by Jan Fordeyn (Jan De Nul) − Director Project Development & Conceptual Design
In our day to day lives most of us are not aware of how many industries rely on sand as a part of their working process. The amount of sand consumed has dramatically increased over the last few years and this can be largely contributed to the world wide construction boom. How is this going to affect us in the future?
Register now for the Course ‘Dredging for Sustainable Infrastructure’
Following on from the success of previous courses Dredging for Sustainable Infrastructure, CEDA and IADC have decided to schedule another one in December 2021.
Sustainability and the 2021 IADC Annual General Meeting
At IADC’s 2nd digital Annual General Meeting, held on 16 September 2021, 4 members of the Sustainability Committee and the Secretary General gave presentations highlighting a number of their activities.