From ash pond to Riverside Wetlands: Making the business case for engineered natural technologies

Abstract

The 2015 announcement of The Dow Chemical Company's (Dow) Valuing Nature Goal, which aims to identify $1 billion in business value from projects that are better for nature, gives nature a spot at the project design table. To support this goal, Dow and The Nature Conservancy have extended their long-standing collaboration and are now working to develop a defensible methodology to support the implementation of the goal. This paper reviews the nature valuation methodology framework developed by the Collaboration in support of the goal. The nature valuation methodology is a three-step process that engages Dow project managers at multiple stages in the project design and capital allocation processes. The three-step process identifies projects that may have a large impact on nature and then promotes the use of ecosystem service tools, such as the Ecosystem Services Identification and Inventory Tool, to enhance the project design so that it better supports ecosystem health. After reviewing the nature valuation methodology, we describe the results from a case study of redevelopment plans for a 23-acre site adjacent to Dow's Michigan Operations plant along the Tittabawassee River.