Abstract
Contaminated land is a legacy from the past affecting present and future generations. Remediation removes negative impacts and leads to benefits for society. Potential benefits depend on the type of contamination, but also on the location of the site, and the current and potential use of the land. By establishing the size of potential benefits, remediation resources can be targeted more effectively helping maximise welfare. Benefits may also be expressed and captured in monetary terms which helps resources be allocated efficiently in the overall economy. This research project will develop a methodology for assessing benefits of remediation and allowing different sites to be compared. The design of the methodology needs to address economic impacts such as the impact on neighbouring house prices as well as practical issues such as incomplete knowledge of particular sites. The project will develop three candidate methodologies based on an assessment of international practice, the unique characteristics of the UK, and available sources of information. The methodologies will be tested by applying them to three representative case studies across the country. A final methodology will be recommended for use more widely.
United Kingdom