At the completion of the benefit quantification step, the benefits of the risk management scenario have been quantified in terms of health impacts and as a percentage reduction in the total DALYs at the site.
Pearce and Koundouri (2003; Section 4.2, p. 28,) used the assumptions made by Lvovsky (2001) to estimate that the DALY potentially “targeted” by REACH account for 0.6% to 2.5% of the total DALYs for UK and Europe. Then, they assumed that the implementation of REACH will result in a 10% decrease in the targeted DALYs. In other words, the authors stated that it is reasonable to expect that an investment in reduced chemicals exposure may be expected to result in a decrease in DALYs in the range of 0.06% – 0.25%.
As such, the percentage reduction in the total DALYs at the site can be compared to this 0.06% – 0.25% range. (Values falling below 0.06% are deemed to be economically feasible, those between 0.06% and 0.25% are probably feasible, and those above 0.25% are not feasible).
Other economic benefits, other than reductions in human health risks, may also exist for the risk management scenario. These other benefits are not included in our current analysis, but may play a role in making an risk management scenario economically feasible.
Examples of other benefits include:
- Land value benefits
- Agricultural product benefits
- Forest product benefits
- Benefits to protected sites
- Benefits to cultural sites
- Cultural/historical landmark benefits
- Minority group benefits
- Disadvantaged groups benefits