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Sustainability transitions of contaminated sites: a global meta-analysis on economic effects of remediation behavior
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  • Xiaonuo Li,
  • Shiyi Yi,
  • Andrew Cundy,
  • Weiping Chen
Xiaonuo Li
Research Centre for Eco-Environmental Sciences Chinese Academy of Sciences

Corresponding Author:xnli@rcees.ac.cn

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Shiyi Yi
Research Centre for Eco-Environmental Sciences Chinese Academy of Sciences
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Andrew Cundy
University of Southampton
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Weiping Chen
Research Centre for Eco-Environmental Sciences Chinese Academy of Sciences
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Abstract

The worldwide diversity of contaminated sites, coupled with a scarcity of available land in urban spatial planning, has led to an increasing political significance for brownfield conservation and re-use to achieve land resource sustainability. In this study, economic or so-called rebound effects of land regeneration, are studied via a global meta-analysis on value fluctuation of surrounding property. To this end, a total of 91 observations from 28 HPM (Hedonic Pricing Model) studies were synthesized to conduct a meta-analysis following a conditional random-effects procedure. The empirical results indicate that, in line with expectations, the conservation and recycling of land resource indeed generate significant rebound in the implicit price of residential houses, especially for those located within 2 kilometers of contaminated sites. Before land remediation and re-use, dwellings closest in distance to contaminated sites experience the greatest value loss. On average, the depreciation in property values within the first 1km distance from a contaminated site is about 8.18%, significantly at the 1% level, while the corresponding adverse impact from 1 to 2 km distance is a 4.8% price premium significantly at the 5% level. The significance of the stigma or rebound effects depend on 12 attributes, in which, house age, location, FAR (Floor Area Ratio) and CBD (Central Business District) variables have the largest impact, of -37.38%~37.5%. From a practical perspective, the findings of this meta-analysis: 1) help refine contributing parameters in HPM studies to evaluate environmental economics; and 2) provide meaningful decision-making support for cost-effective remediation and benefit maximization.
18 Jan 2022Submitted to Land Degradation & Development
19 Jan 2022Submission Checks Completed
19 Jan 2022Assigned to Editor
04 Feb 2022Reviewer(s) Assigned
10 Feb 2022Review(s) Completed, Editorial Evaluation Pending
13 Feb 2022Editorial Decision: Revise Major
21 Feb 20221st Revision Received
22 Feb 2022Submission Checks Completed
22 Feb 2022Assigned to Editor
17 Mar 2022Review(s) Completed, Editorial Evaluation Pending
19 Mar 2022Editorial Decision: Accept
15 Jul 2022Published in Land Degradation & Development volume 33 issue 11 on pages 1775-1786. 10.1002/ldr.4270