ABSTRACT
Focusing on the utility of property market valuation and investment appraisal, the following examines the critique of the discounting principle advanced by environmentalists. In particular, it examines the argument put forward regarding the link between the valuation and appraisal of investments, selection of a discount rate, existence of land use, building obsolescence and depreciation connected with the inter-generational downloading of costs. The link, seen by some, as having an adverse effect on the life cycle of land and buildings and as working against attempts to assess the impact experimental designs, aimed at energy saving, low carbon based emissions, have upon the environments in cities. Having examined the arguments, it goes on to rehabilitate the discounting mechanism by incorporating the market criteria of valuation and investment appraisal into the biophysics and ecology of life cycle analysis and environmental impact assessment.
