Focusing on the utility of property market valuation and investment appraisal, this chapter 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 development costs; the link seen by some as having an adverse effect on the life-cycle of land buildings and as working against attempts to implement experimental designs aimed at energy saving and low carbon-based emissions.