Significance of Societal life-cycle costing
Societal life-cycle costing involves translating environmental effects into monetary values, combining them with financial costs to evaluate the total societal expense of a waste management system. This approach was applied to compare different food waste management strategies, highlighting the importance of methods focused on preventing food waste by discouraging the purchase of food that ultimately goes uneaten.
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The concept of Societal life-cycle costing in scientific sources
Societal life-cycle costing (societal LCC) assesses the total societal cost of a system, like waste management, by converting environmental impacts into monetary terms and combining them with budget costs. It informs decisions, such as prioritizing food waste avoidance.
Significance in Environmental Sciences:(1) Societal life-cycle costing was used to compare food waste management methods, emphasizing the need for food avoidance methods that discourage the purchase of uneaten food. [1] (2) Societal life-cycle costing, abbreviated societal LCC, involves converting environmental impacts into monetary terms and incorporating them with budget costs to assess the overall societal cost of a waste management system. [2]
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