Monetisation factors are key to true cost accounting and true pricing. They are the monetary values we use for true pricing of CO2 emissions, water use, soil degradation, land use change, underpayment and labour and human rights violations.

True Price has, over the past nine years, developed the principles and methodology to monetise a wide set of social and environmental costs. This document provides the latest open access version of the monetisation factors developed by True Price, with the aim to facilitate the adoption and application of true pricing, fill a gap in the literature and accelerate standardisation. The monetisation factors are the backbone of the true price methodology, powering studies such as the UN Food Systems Summit’s The True Cost and True Price of Food report and the Rockefeller Foundation’s True Cost of Food report. It provides monetisation factors for 10 environmental and 10 social true price impacts and their footprint indicators and sub-indicators, along with an explanation of the interpretation and sources.

True Price strives to make its monetisation database scientifically and normatively sound, comprehensive and applicable. The Principles for True Pricing provide the foundation for our methodology. We also publish Natural Capital and Social Capital Impact Modules for True Price Assessment, which provide detailed justification of the monetisation factors and further explanation on how to use them. Finally the Assessment method provides steps and requirements for calculating true prices.

Monetisation Factors for True Pricing

Version 3.0.0 (2023) – June 2023

This latest revision focused primarily on updating the social monetisation factors. Some changes were made to the method regional factors for air pollution. These changes do not affect the values of the global factors presented in the report, but the accompanying explanation is updated.

You can find additional documentation on our methodology here.

Previous version

Monetisation Factors for True Pricing: Version 2.0.3 – October 2021

Monetisation Factors for True Pricing: Version 2020.1 – March 2020

The current version will be further improved based on expert feedback and True Price openly invites comments on the paper.
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