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Practical and Theoretical Underpinnings of INFFER (Investment Framework For Environmental Resources)

Author

Listed:
  • Pannell, David J.
  • Roberts, Anna M.
  • Park, Geoff
  • Curatolo, April
  • Marsh, Sally P.

Abstract

INFFER (Investment Framework for Environmental Resources) was developed to help investors of public funds to improve the delivery of outcomes from environmental programs. It assists environmental managers to design projects, to select delivery mechanisms, and to rank competing projects on the basis of benefits and costs. The design of INFFER and the activities of the INFFER projects are based on extensive experience of working with environmental managers and policy makers. This experience has highlighted a number of important practical lessons, that have strongly influenced the design and implementation of INFFER. These lessons include the need for simplicity, training and support of users, trusting relationships with users, transparency, flexibility, compatibility with the needs and contexts of users, and supportive institutional arrangements. In additions, the developers have paid close attention to the need for processes that are theoretically rigorous, resulting in a tool that deals appropriately and consistently with projects for different assets types, of different scales and durations, consistent with Benefit: Cost Analysis. The paper outlines theoretical considerations underpinning the way that INFFER deals with asset valuation, time lags, uncertainty, and the design of the metric used to rank projects.

Suggested Citation

  • Pannell, David J. & Roberts, Anna M. & Park, Geoff & Curatolo, April & Marsh, Sally P., 2010. "Practical and Theoretical Underpinnings of INFFER (Investment Framework For Environmental Resources)," 2010 Conference (54th), February 10-12, 2010, Adelaide, Australia 59148, Australian Agricultural and Resource Economics Society.
  • Handle: RePEc:ags:aare10:59148
    DOI: 10.22004/ag.econ.59148
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    File URL: http://ageconsearch.umn.edu/record/59148/files/Pannell_%20David.pdf
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    Blog mentions

    As found by EconAcademics.org, the blog aggregator for Economics research:
    1. 236 – Ranking environmental projects 2: Divide by costs
      by David Pannell in Pannell Discussions on 2013-05-06 20:02:37
    2. 237 – Ranking environmental projects 3: With vs without
      by David Pannell in Pannell Discussions on 2013-05-13 20:00:17
    3. 238 – Ranking environmental projects 4: Environmental condition and values
      by David Pannell in Pannell Discussions on 2013-05-20 20:00:59
    4. 239 – Ranking environmental projects 5: Estimating and measuring values
      by David Pannell in Pannell Discussions on 2013-05-27 20:00:51
    5. 240 – Ranking environmental projects 6: Adoption and compliance
      by David Pannell in Pannell Discussions on 2013-06-03 20:00:21
    6. 241 – Ranking environmental projects 7: Project risks
      by David Pannell in Pannell Discussions on 2013-06-10 20:00:01
    7. 244 – Ranking environmental projects 10: Private benefits
      by David Pannell in Pannell Discussions on 2013-07-01 20:00:02
    8. 242 – Ranking environmental projects 8: Time
      by David Pannell in Pannell Discussions on 2013-06-17 20:00:21
    9. 243 – Ranking environmental projects 9: Multiple benefits
      by David Pannell in Pannell Discussions on 2013-06-24 20:00:50
    10. 250 – Ranking environmental projects 16: Uncertainty
      by David Pannell in Pannell Discussions on 2013-07-02 23:13:52
    11. 245 – Ranking environmental projects 11: Scoring variables
      by David Pannell in Pannell Discussions on 2013-07-08 20:00:52
    12. 246 – Ranking environmental projects 12: Cash costs
      by David Pannell in Pannell Discussions on 2013-07-15 20:00:42
    13. 247 – Ranking environmental projects 13: In-kind costs
      by David Pannell in Pannell Discussions on 2013-07-22 20:00:43
    14. 248 – Ranking environmental projects 14: Private costs
      by David Pannell in Pannell Discussions on 2013-07-29 20:00:26
    15. 249 – Ranking environmental projects 15: Maintenance costs
      by David Pannell in Pannell Discussions on 2013-08-05 20:00:03
    16. 251 – Ranking environmental projects 17: Uncertainty
      by David Pannell in Pannell Discussions on 2013-08-19 20:00:24
    17. 252 – Ranking environmental projects 18: Simplifications
      by David Pannell in Pannell Discussions on 2013-08-26 20:00:14
    18. 253 – Ranking environmental projects 19: Mistakes to avoid
      by David Pannell in Pannell Discussions on 2013-09-02 20:00:21
    19. 254 – Ranking environmental projects 20: Summary
      by David Pannell in Pannell Discussions on 2013-09-09 20:00:25

    More about this item

    Keywords

    Environmental Economics and Policy;

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