Mapping and economic valuation of the wider values of brownfield remediation and restoration: A review

Review article, 2026

Although a growing body of research recognizes the wider values generated by brownfield remediation and restoration (BRR), there is still limited consolidated knowledge on how these values can be systematically assessed and integrated into planning and investment decisions. A semisystematic review of scientific and gray literature was conducted to map the wider values and their economic impacts, as well as the economic valuation methods that have been used to monetize them, while assessing potential biases, knowledge gaps, and future research directions. This study contributes to the literature by providing a structured synthesis that links wider values of BRR with economic valuation methods, uncertainty considerations, and their integration into business case development. The review shows that there is a broad range of wider values linked to BRR and alternative future land uses, many of which can be monetized using various monetary valuation methods, although difficult-to-monetize benefits such as biodiversity and soil health improvements are underrepresented. A simplified framework is proposed to demonstrate how accounting for wider values from an economic perspective can strengthen the economic case for BRR, particularly at vacant or underutilized land with lower financial potential. Value transfer is highlighted as a promising valuation method where resources are limited, but a probabilistic approach is recommended to account for uncertainties by considering representative values for ranges (e.g., mean, mode, or median values) instead of transferring highly variable point estimates. It is also recommended to carefully consider the economic valuation method for the specific project context, as some valuation estimates and methods using direct cost-based methods, such as market pricing and replacement cost, are highly site specific and could be replicated using site-specific information instead of value transfer. Potential risks (e.g., double-counting), limitations in monetization from narrow ethical viewpoints, and other biases and methodological challenges are discussed. Key points This review provides a structured synthesis linking wider values of brownfield remediation and restoration to economic valuation methods and business case development.Wider values include economic, social, and environmental impacts in society, most of which are externalities that are not part of financial analyses but can be theoretically valued in monetary terms.Important methodological biases and evidence gaps are revealed, particularly for soil health, biodiversity, and nonmarket societal benefits, and future research directions are outlined.This article proposes a framework and discusses how wider values can be monetized and internalized using financial mechanisms to strengthen the business case for brownfield remediation and restoration projects.