Open Collections

UBC Faculty Research and Publications

Economic Indicators for Life Cycle Sustainability Assessment : Going beyond Life Cycle Costing Arulnathan, Vivek; Heidari, Mohammad Davoud; Doyon, Maurice; Li, Eric P. H.; Pelletier, Nathan

Abstract

Life Cycle Costing (LCC) is universally accepted as the method of choice for economic assessment in Life Cycle Sustainability Assessment (LCSA) but the singular focus on costs is ineffective in representing the multiple facets of economic sustainability. This review intends to identify other economic indicators to potentially complement the use of LCC in LCSA. Papers for the review were identified in the Web of Science Core Collection database for the years 2010–2021. The shortlisted indicators were analyzed using 18 criteria. The 21 indicators analyzed performed well with respect to the review criteria for indicator methodology and use but most are unsuitable for direct integration into the LCC/LCSA framework due to the inability to aggregate across life cycles and a lack of correspondingly granular data. The indicators were grouped into six economic impact categories—profitability, productivity, innovation, stability, customers, and autonomy—each of which represents a significant aspect of economic sustainability. On this basis, a conceptual framework is proposed that could maintain the utility of LCC while integrating additional indicators to enable more holistic economic assessments in LCSA. Considering additional economic indicators in LCSA ensures that the positive aspects of LCC are preserved while also improving economic assessment in LCSA.

Item Metadata

Title
Economic Indicators for Life Cycle Sustainability Assessment : Going beyond Life Cycle Costing
Creator
Arulnathan, Vivek; Heidari, Mohammad Davoud; Doyon, Maurice; Li, Eric P. H.; Pelletier, Nathan
Publisher
Multidisciplinary Digital Publishing Institute
Date Issued
2022-12-20
Description
Life Cycle Costing (LCC) is universally accepted as the method of choice for economic assessment in Life Cycle Sustainability Assessment (LCSA) but the singular focus on costs is ineffective in representing the multiple facets of economic sustainability. This review intends to identify other economic indicators to potentially complement the use of LCC in LCSA. Papers for the review were identified in the Web of Science Core Collection database for the years 2010–2021. The shortlisted indicators were analyzed using 18 criteria. The 21 indicators analyzed performed well with respect to the review criteria for indicator methodology and use but most are unsuitable for direct integration into the LCC/LCSA framework due to the inability to aggregate across life cycles and a lack of correspondingly granular data. The indicators were grouped into six economic impact categories—profitability, productivity, innovation, stability, customers, and autonomy—each of which represents a significant aspect of economic sustainability. On this basis, a conceptual framework is proposed that could maintain the utility of LCC while integrating additional indicators to enable more holistic economic assessments in LCSA. Considering additional economic indicators in LCSA ensures that the positive aspects of LCC are preserved while also improving economic assessment in LCSA.
Subject
sustainability assessment; life cycle thinking; life cycle costing; economic indicators; economic assessment
Genre
Article
Type
Text
Language
eng
Date Available
2023-09-26
Provider
Vancouver : University of British Columbia Library
Rights
CC BY 4.0
DOI
10.14288/1.0436873
URI
http://hdl.handle.net/2429/86007
Affiliation
Management, Faculty of (Okanagan); Science, Irving K. Barber Faculty of (Okanagan); Other UBC; Non UBC; Biology, Department of (Okanagan)
Citation
Arulnathan, V.; Heidari, M.D.; Doyon, M.; Li, E.P.H.; Pelletier, N. Economic Indicators for Life Cycle Sustainability Assessment: Going beyond Life Cycle Costing. Sustainability 2023, 15, 13.
Publisher DOI
10.3390/su15010013
Peer Review Status
Reviewed
Scholarly Level
Faculty; Researcher; Graduate; Unknown
Rights URI
https://creativecommons.org/licenses/by/4.0/
Aggregated Source Repository
DSpace

Item Media

Item Citations and Data

Rights

CC BY 4.0