Embedding a Culture and Heritage Capital Approach
This report sets out DCMS' approach to embedding best practice for valuing cultural and heritage assets.
Applies to England
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‘Embedding a Culture and Heritage Capital Approach’ provides an update to ‘Valuing Culture and Heritage Capital: A framework towards informing decision making’, published by DCMS in January 2021.
This updated framework will help the sector make a stronger case for investment in culture and heritage assets.
‘Embedding a Culture and Heritage Capital Approach’ presents a baseline description of stocks and the flow of services and benefits. While the framework can be used to help articulate the impact of culture and heritage interventions, it is still very much in development and will evolve through consultation with the sector and academia.
This paper also summarises the growing evidence base of CHC (Culture and Heritage Capital) research outputs that can be used within appraisal and evaluation, and our long-term ambition of establishing a set of Culture and Heritage Capital Accounts.
The final chapters are aimed at practitioners and researchers who are looking to understand how to implement the latest research, and are looking to address evidence gaps in economic appraisals and evaluation. While this is aimed at people with some existing knowledge or experience in appraisals, evaluations and conducting SCBA (social cost benefit analysis), this chapter will also help anybody who is interested in understanding how to articulate and use these economic-led methods and evidence when making the case for culture and heritage investment and management strategies.