ABSTRACT
This chapter argues that the value of a decision to a company is driven by the expectations, perceptions and priorities of the decision's stakeholders. It also argues that the best way to reduce the uncertainties—and hence confidently to justify the final decision to an often intransigent and sceptical audience—is to find out what the priorities and values of the decision's stakeholders are and to incorporate these into the decision process. The Paras model was developed in response to industry's call for a practical methodology to support the holistic financial appraisal of environmental investments, particularly those that aim to employ 'Clean Technology' solutions. The environment, and how governments and companies impact on it through their decisions, is a complex and often controversial and emotional subject. The chapter describes how stakeholder input information is gathered and used within the Toolkit's models.
