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Sustainability 2018, 10(9), 3289; https://doi.org/10.3390/su10093289

Financial Modelling Strategies for Social Life Cycle Assessment: A Project Appraisal of Biodiesel Production and Sustainability in Newfoundland and Labrador, Canada

1
Department of Process Engineering, Faculty of Engineering & Applied Science, Memorial University of Newfoundland, St. John’s, NL A1B 3X5, Canada
2
Department of Geography, Faculty of Humanities & Social Science, Memorial University of Newfoundland, St. John’s, NL A1B 3X5, Canada
*
Author to whom correspondence should be addressed.
Received: 17 July 2018 / Revised: 9 September 2018 / Accepted: 13 September 2018 / Published: 14 September 2018
(This article belongs to the Special Issue Sustainability of Energy Technologies and Life Cycle Assessment)
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Abstract

Social Life Cycle Assessment (S-LCA) is a rapidly evolving social impact assessment tool that allows users to identify the social impacts of products along with their life cycles. In recent years, S-LCA methodologies have been increasingly applied to energy systems and resources with notable success yet with limited reliability and even less flexibility or geographic specificity. In response, this study develops a novel assessment tool, named the GreenZee model, to reflect the social impacts of products and their sustainability using local currency units. The model is developed through evaluating both qualitative and quantitative inputs that capture the perceived monetary value of social impacts. To demonstrate the operationalization of the model, we explore a hypothetical case study of the biodiesel industry in Newfoundland and Labrador (NL), Canada. Results indicate that biodiesel production in NL would have positive socio-cultural impacts, high cultural values, and would create employment opportunities for locals. Overall, the GreenZee model provides users with a relatively simple approach to translate a variety of qualitative and quantitative social impact inputs (as importance levels) into meaningful and understandable financial outputs (as strength levels). We argue that building and testing models such as the GreenZee are crucial to supporting more flexible approaches to life cycle assessments that need to address increasingly complex social categories, cultural values, and geographic specificity. View Full-Text
Keywords: impact assessment; social impacts; biofuel; life cycle assessment; energy impact assessment; social impacts; biofuel; life cycle assessment; energy
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This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. (CC BY 4.0).

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Sajid, Z.; Lynch, N. Financial Modelling Strategies for Social Life Cycle Assessment: A Project Appraisal of Biodiesel Production and Sustainability in Newfoundland and Labrador, Canada. Sustainability 2018, 10, 3289.

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