Conference Agenda

Sustainable innovations (SIs) in the agri-food sector enhancing environmental and social aspects are vital in addressing global challenges, particularly by accelerating the shift toward more sustainable and socially inclusive agricultural systems. The European Union (EU) provides a comprehensive framework of policies to support SIs in the agri-food sector (the European Green Deal setting the path to climate neutrality in 2050, the Eco-Schemes under the Common Agricultural Policy or the Circular Economy Action Plan). Before investing in SIs, it is essential to perform a cost-benefit analysis (CBA) to help stakeholders identify the potential returns on investment, prioritize resources effectively, and ensure that the proposed SIs align with the Sustainable Development Goals (SDGs). Classical CBA falls short when it excludes non-market values in the environmental and social aspects, such as various public goods. Excluding non-market values can lead to an incomplete assessment of an innovation's true impact, undervaluing critical environmental and social benefits. On the other hand, public goods lack direct monetary values, given the absence of related markets to commercialize these services and monetize their economic benefits. As a result, decisions based solely on classical CBA focusing on private benefits may favour short-term financial gains over long-term sustainability. This session provides three examples of using an extended cost-benefit analysis (ECBA) framework that integrates non-market values with traditional CBA. While the first two presentations are focussed more on the methodological issues applied to specific case studies, the third one explores how this process can be done in a co-constructed way with stakeholders to deliver impact.

This session explores innovative market and policy mechanisms for carbon dioxide removal (CDR) and emissions offsetting, focusing on their integration into existing carbon markets and policy frameworks. The presented papers examine different geographical perspectives and policy approaches, proposing implementable solutions for key issues such as market integration, intertemporal trading of CDR permits, impermanence of removal, substitution with non-CO2 greenhouse gases, and externalities. The discussion will provide insights into the design and implementation of effective CDR policy instruments, offering valuable perspectives for researchers and policymakers.