A novel approach for evaluating the performance of eco-industrial park pilot projects

This paper presents a novel approach using discounted cash flow (DCF) and multi-attribute global inference of quality (MAGIQ) methods to evaluate the economic, environmental, and social performances of eco-industrial park (EIP) pilot projects. As a test case, we evaluated South Korean EIP pilot projects that primarily focus on the development of industrial symbiosis networks in existing industrial complexes. The results demonstrated that networks with high initial investment or higher value-added products tend to have high economic performance. Additionally, several projects involving energy networks have resulted in high positive environmental performance through greenhouse gas emissions mitigation. Waste acid/alkali solution recycling projects also showed remarkable social outcomes on account of the variety of networks formed and active participation from enterprises. The present approach incorporating the DCF and MAGIQ methods provides a simple and promising decision-making tool for quantitative performance evaluation of EIP pilot projects. Furthermore, valuable lessons from the evaluation considering economic, environmental, and social performances will provide the basis for future EIP establishment.