Valuation of some environmental damages in Georgia
Vista Analysis has compiled an overview of methods for valuing damage and impacts on biodiversity and soil and water pollution to help the Georgian authorities implement the EU Environmental Liability Directive (ELD). The report presents an overview of the main requirements in ELD regarding valuation and discusses main approaches to monetary valuation of environmental damage based on best international practice. In the report, there is also a review of some cases that are believed to be representative of the situation in Georgia. In December 2018, a 2-day course was held for Georgian environmental regulators in Tbilisi based on this material.
Vista Analysis is now engaged in a follow-up, in which in a workshop in July we will contribute to a review of how the damage in some actual events from Georgia can be valued as the basis for payment of compensation for the damages.
The project is part of a larger commitment to assist the Georgian authorities in adapting to ELD, funded by the Norwegian Ministry of Foreign Affairs via the International Center for Hydropower (ICH).
Read the report here.