Archive | 2019
FROM TOOLS TO TOOLBOX: SUSTAINABILITY AND INVESTMENT APPRAISAL FOR WATER PROJECTS
Abstract
Public infrastructure plays a crucial role in transitioning to a more sustainable society. Many water infrastructure providers have adopted commitments to sustainability practice in corporate plans and statements, and the delivery of the organisation’s portfolio of projects is integral to achieving sustainability targets that contribute to global efforts in meeting the commitments of the UN Sustainable Development Goals. Front-end decision making, based on the findings of the business case, has the greatest opportunity to influence sustainability outcomes. This paper asserts that investment appraisal for public infrastructure requires a new framing to support the selection and shaping of projects with sustainability outcomes. Taking account of the unique characteristics of infrastructure and the public good that infrastructure may provide, a toolbox approach is multi-layered and ensures that projects align with broader strategic directions, whilst recognising that underpinning analysis should ensure robust and transparent project appraisal. Benefits assessment for infrastructure investments should align with broader policy directions and include considerations of benefit for the wider community, beyond the boundaries of the infrastructure provider. A deeper understanding of value may be gained through working with a range of stakeholders including the end users of infrastructure. This approach challenges the premise that better analysis should be focused on monetising more impacts within appraisal tools.