| Appraisal | ex ante analysis of projected impacts/outcomes/results in relation to stated objectives |
| Appropriateness principle | |
| Capital | Stocks or assets providing a flow of goods and services which contribute to human well-being |
| Cost-benefit analysis | |
| Critical threshold | |
| Deliberative methods | |
| Evaluation | Ex post analysis of impacts/outcomes/results in relation to stated objectives |
| Four Capitals model |
The Four Capitals Model considers development (and the meeting of needs and aspirations) to take place through the services provided by economic, human, social and environmental assets. Development is then considered to be sustainable if and only if the stock of ALL assets or capital (wealth) per capita remains constant or rises over time. Sustainable development is defined as the provision of services and benefits that increase human well-being without causing a decline in capital stocks per captia. Manufactured Capital (or human-made) captial is what is traditionally considered as capital: produced assets that are used to produce other goods and services. Some examples are machines, tools, buildings and infrastructure. Natural Capital In addition to traditional resources, such as timber, water and energy and mineral reserves, natural capital includes natural assets that are not easily valued monetarily, such as biodiversity, endangered species, and the ecosystems which perform ecological services (eg. air and water filtration). Natural capital can be considered as the components of nature that can be linked directly or indirectly with human welfare. Social Capital Social capital, like human capital, is related to human well-being, but on a societal rather than individual level. It consists of the social networks that support an efficient, cohesive society, and facilitate social and intellectual interactions among its members. Social capital refers to those stocks of social trust, norms and networks that people can draw upon to solve common problems and creat social cohesion. Examples of social capital include neighbourhood associations, civic organisations, and co-operatives. The political and legal structures which promote political stability, democracy, government efficiency, and social justice (all of which are good for productivity as well as being desirable in themselves) are also part of social capital. Human Capital Human capital generally refers to the health, well-being, and productive potential of individual people. Types of human capital include mental and physical health, education, motivation and work skills. These elements not only contribute to a happy, healthy society, but also improve the opportunities for economic development through a productive workforce. |
| Justice principle | |
| Multicriteria analysis | |
| Precautionary principle | |
| Strong sustainability | The maintenance of total captials stocks where below certain stock levels (critical thresholds), particular components of capital are non-substitutable, ie. they contribute to welfare in a unique way that cannot be replicated by another capital component, thus preventing unlimited substitution. |
| Sustainable development | Development that meets the needs of the present without compromising the ability of future generations to meet their own needs and that increases the quality of life in the present and the future
At its simplest, it means "development that lasts" -that is, a path along which the maximisation of human well-being for today's generations does not lead to a decline in future well-being. Meeting human needs and increasing quality of life may be regarded as the 'development' part of sustaianble development. Being able to main this into the future may be regarded as the 'sustainable' part. |
| Sustainable principle | |
| Weak sustainability | The maintenance of total capital stocks with substitution allowed between the various forms of capital |
SRDTOOLS is funded through the Sixth Framework Programme of DG Research, under Priority 8: Research for Policy Support Area 3.1: Underpinning European Integration, Sustainable Development, Competitiveness, and Trade Policy
