Managing the risks and consequences of a large polluting accident

Overview

The J-value framework (J for Judgement) is an integrated methodology that generates objective advice on how much should be spent to avert human harm and environmental loss. It estimates the maximum it is reasonable to spend on a safety measure or system by balancing the safety expenditure against the increase life expectancy it brings about.

At its core is the concept of the life-quality index (LQI), which is an increasing function of both life expectancy and annual utility, with risk-aversion used to convert monetary income to utility – the satisfaction that the money brings. The maximum reasonable expenditure will have been reached when the increase in the LQI due to the greater life expectancy the safety measure confers is just matched by the decrease in life quality associated with the fall in income incurred by paying for it.

The presentations will challenge the conventional thinking of how to manage the consequences of both large nuclear accidents and large polluting accidents and will demonstrate how the J-value can aid decision-making by Governments, Regulatory Bodies and other organisations concerned with post-accident response.