Term:
Restoration costs
Definition:

The cost for restoring environmental quality. These costs may be “actual” or “hypothetical”. Hypothetical restoration costs are only used in cost-based estimates if they are the “least-cost option”. The hypothetical costs of restoring the environment to defined standards are important outside the national accounting framework. The hypothetical costs include the mitigation / abatement of accumulated damage required to return to this standard.

Domain:
Environment
Source:
OECD Glossary
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