ABSTRACT
Estimating a monetary value of human life is considered by many to be an abomination, an unethical and immoral act. However, valuation of projected reduction in the risk of premature mortality is an evolving area in the community of economic and public policy analysis, and a considerable body of academic literature has been emerging on the subject. Damage to ecosystems and cultural heritage can be quantified on a relative basis. Other impacts such as reduced visibility from air pollution and the social dimensions of health impacts may not currently be quantifiable in terms of impact or monetary value; they permit only a qualitative analysis. BASF eco-efficiency analysis (EEA) contributes to strategic and informed decision making. It is a comparative analysis–compares sustainability of alternative products or processes, more like cost-effectiveness and not cost-benefit analysis. Cloud-based analytics systems enable the centralization of all of the available sensor data for continuous assessment of the operating performance of energy consuming systems.
